What is Put-Call Ratio (PCR) and how do I interpret it?

PCR is the ratio of total Put Open Interest to Call Open Interest. High PCR (>1.2) indicates bullish sentiment as more puts provide support. Low PCR (<0.8) indicates bearish sentiment as more calls provide resistance. Neutral PCR (0.8-1.2) shows balanced market sentiment.

What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

How do I use PCR with price action?

Combine PCR with price for better signals. Use divergence trading when price and PCR move opposite. Look for confirmation when price and PCR align. Watch for extreme COI Strength values at support/resistance for reversal signals. Monitor sudden COI Strength shifts as they often precede intraday trend changes.

LUPIN

Q: What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

Q: What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

Q: How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

Q: What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

Lupin Limited

2112.9 -0.20 (-0.01%)

L: 2098 H: 2127.1

Put-Call Ratio - LUPIN

18 Dec 2025 02:51 PM IST

Live

Expiry

Put OI

5,300

Call OI

6,757

PCR

0.78

Put OI Chg

101

Call OI Chg

-110

COI PCR

-0.92

COI Strength

1.00

Interval

On 9:30 LUPIN was trading at 2110.2 with pcr value 0.75

On 9:45 LUPIN was trading at 2101.5 with pcr value 0.74

On 10:00 LUPIN was trading at 2104.2 with pcr value 0.74

On 10:15 LUPIN was trading at 2108.6 with pcr value 0.74

On 10:30 LUPIN was trading at 2109.7 with pcr value 0.75

On 10:45 LUPIN was trading at 2112.3 with pcr value 0.75

On 11:00 LUPIN was trading at 2116.4 with pcr value 0.76

On 11:15 LUPIN was trading at 2115.5 with pcr value 0.77

On 11:30 LUPIN was trading at 2118 with pcr value 0.77

On 11:45 LUPIN was trading at 2124.7 with pcr value 0.78

On 12:00 LUPIN was trading at 2126 with pcr value 0.8

On 12:15 LUPIN was trading at 2121.7 with pcr value 0.8

On 12:30 LUPIN was trading at 2120.8 with pcr value 0.8

On 12:45 LUPIN was trading at 2121.7 with pcr value 0.79

On 13:00 LUPIN was trading at 2121.5 with pcr value 0.79

On 13:15 LUPIN was trading at 2119.3 with pcr value 0.79

On 13:30 LUPIN was trading at 2119.7 with pcr value 0.79

On 13:45 LUPIN was trading at 2115.8 with pcr value 0.79

On 14:00 LUPIN was trading at 2115.8 with pcr value 0.79

On 14:15 LUPIN was trading at 2115 with pcr value 0.79

On 14:30 LUPIN was trading at 2107.9 with pcr value 0.78

On 14:45 LUPIN was trading at 2113.7 with pcr value 0.79

On 14:52 LUPIN was trading at 2115 with pcr value 0.78

Put-Call-Ratio Table

PCR Table Expiry

Note:- click on symbol to see more detailed view

	PCR OI			COI PCR
Symbol	Put	Call	Ratio	Put	Call	Ratio
360ONE	2,100	3,619	0.58	-42	189	-0.22
ABB	5,307	7,220	0.74	137	572	0.24
ABCAPITAL	4,763	8,219	0.58	-172	127	-1.35
ADANIENSOL	3,282	6,014	0.55	-61	192	-0.32
ADANIENT	26,090	44,068	0.59	-75	-367	0.20
ADANIGREEN	9,798	18,817	0.52	-363	-528	0.69
ADANIPORTS	9,164	18,822	0.49	26	1	26.00
ALKEM	1,180	2,112	0.56	-25	199	-0.13
AMBER	7,280	11,127	0.65	246	-2	-123.00
AMBUJACEM	8,259	11,428	0.72	-212	548	-0.39
ANGELONE	7,725	20,891	0.37	215	1,521	0.14
APLAPOLLO	2,226	2,591	0.86	-152	-447	0.34
APOLLOHOSP	9,009	18,499	0.49	190	-149	-1.28
ASHOKLEY	13,394	13,349	1.00	1,101	787	1.40
ASIANPAINT	16,760	34,363	0.49	-182	355	-0.51
ASTRAL	4,341	8,226	0.53	253	143	1.77
AUBANK	6,409	7,944	0.81	-96	-88	1.09
AUROPHARMA	4,732	10,203	0.46	251	-336	-0.75
AXISBANK	21,827	48,072	0.45	-1,830	-5,915	0.31
BAJAJ-AUTO	14,203	28,892	0.49	-418	564	-0.74
BAJAJFINSV	14,025	21,495	0.65	-12	-4	3.00
BAJFINANCE	23,505	40,144	0.59	-395	-780	0.51
BANDHANBNK	7,636	11,253	0.68	6	-125	-0.05
BANKBARODA	12,015	14,652	0.82	-188	-615	0.31
BANKINDIA	3,596	4,979	0.72	61	-75	-0.81
BDL	8,623	21,744	0.40	82	-222	-0.37
BEL	26,063	59,569	0.44	-525	-1,264	0.42
BHARATFORG	4,382	6,993	0.63	89	18	4.94
BHARTIARTL	18,482	39,045	0.47	-632	33	-19.15
BHEL	9,039	19,826	0.46	195	1,061	0.18
BIOCON	6,160	11,907	0.52	-168	-663	0.25
BLUESTARCO	2,064	1,915	1.08	486	-355	-1.37
BOSCHLTD	1,584	3,818	0.41	-42	328	-0.13
BPCL	5,387	9,449	0.57	-98	-8	12.25
BRITANNIA	6,465	11,170	0.58	175	1,337	0.13
BSE	17,226	32,759	0.53	-585	-4,325	0.14
CAMS	4,899	8,476	0.58	90	843	0.11
CANBK	12,218	15,252	0.80	-121	-32	3.78
CDSL	9,678	23,273	0.42	-79	-356	0.22
CGPOWER	4,550	10,764	0.42	-210	-192	1.09
CHOLAFIN	8,059	9,351	0.86	1,461	262	5.58
CIPLA	9,947	15,186	0.66	-42	-358	0.12
COALINDIA	13,087	13,077	1.00	119	-135	-0.88
COFORGE	8,745	20,218	0.43	-86	360	-0.24
COLPAL	7,872	12,842	0.61	-65	-304	0.21
CONCOR	7,700	10,179	0.76	-128	-245	0.52
CROMPTON	7,020	13,445	0.52	833	1,406	0.59
CUMMINSIND	3,890	6,633	0.59	55	1,373	0.04
CYIENT	2,316	3,769	0.61	-54	297	-0.18
DABUR	6,459	11,674	0.55	200	-17	-11.76
DALBHARAT	2,835	4,366	0.65	-38	427	-0.09
DELHIVERY	3,935	6,335	0.62	-82	-125	0.66
DIVISLAB	6,763	9,772	0.69	137	336	0.41
DIXON	35,538	66,866	0.53	203	-981	-0.21
DLF	17,056	25,706	0.66	395	-544	-0.73
DMART	7,293	17,441	0.42	305	2,043	0.15
DRREDDY	5,166	10,453	0.49	43	-163	-0.26
EICHERMOT	10,750	15,298	0.70	-399	-116	3.44
ETERNAL	18,909	37,009	0.51	-108	-169	0.64
EXIDEIND	4,327	6,777	0.64	143	756	0.19
FEDERALBNK	8,344	7,975	1.05	106	-306	-0.35
FORTIS	3,558	8,182	0.43	-62	-235	0.26
GAIL	13,243	20,219	0.65	-209	-53	3.94
GLENMARK	7,933	10,649	0.74	83	-269	-0.31
GMRAIRPORT	10,612	20,924	0.51	-317	869	-0.36
GODREJCP	3,818	5,601	0.68	122	-227	-0.54
GODREJPROP	6,904	12,244	0.56	-123	369	-0.33
GRASIM	9,446	8,606	1.10	-26	-9	2.89
HAL	28,508	55,327	0.52	400	-1,993	-0.20
HAVELLS	3,760	4,906	0.77	68	-144	-0.47
HCLTECH	11,671	21,177	0.55	330	792	0.42
HDFCAMC	11,129	11,715	0.95	5,545	4,592	1.21
HDFCBANK	43,033	76,517	0.56	481	2,621	0.18
HDFCLIFE	7,122	16,667	0.43	-47	-666	0.07
HEROMOTOCO	13,986	31,935	0.44	1,352	9,191	0.15
HFCL	4,965	11,834	0.42	41	-34	-1.21
HINDALCO	15,848	20,882	0.76	605	-67	-9.03
HINDPETRO	4,109	6,948	0.59	112	-64	-1.75
HINDUNILVR	9,830	20,838	0.47	-126	155	-0.81
HINDZINC	27,049	36,699	0.74	1,502	-1,347	-1.12
HUDCO	6,335	14,693	0.43	71	136	0.52
ICICIBANK	32,031	51,010	0.63	-610	-3,068	0.20
ICICIGI	3,229	5,911	0.55	130	-114	-1.14
ICICIPRULI	2,292	4,990	0.46	109	90	1.21
IDEA	14,207	25,199	0.56	-866	334	-2.59
IDFCFIRSTB	9,765	12,173	0.80	85	-412	-0.21
IEX	8,355	11,283	0.74	-26	-193	0.13
IIFL	2,656	4,392	0.60	-46	-84	0.55
INDHOTEL	6,352	10,066	0.63	322	-387	-0.83
INDIANB	4,814	11,996	0.40	-28	-195	0.14
INDIGO	53,233	97,749	0.54	3,527	-7,930	-0.44
INDUSINDBK	12,876	18,255	0.71	-149	-563	0.26
INDUSTOWER	8,561	14,566	0.59	-216	-732	0.30
INFY	45,105	63,933	0.71	5,764	258	22.34
INOXWIND	6,728	13,867	0.49	-37	-19	1.95
IOC	7,636	11,738	0.65	-276	-346	0.80
IRCTC	7,076	10,915	0.65	-571	-117	4.88
IREDA	5,129	10,368	0.49	60	106	0.57
IRFC	4,663	9,289	0.50	18	-261	-0.07
ITC	21,454	35,286	0.61	-288	67	-4.30
JINDALSTEL	5,770	9,342	0.62	261	131	1.99
JIOFIN	18,345	27,009	0.68	604	600	1.01
JSWENERGY	9,648	15,130	0.64	-453	51	-8.88
JSWSTEEL	11,810	27,918	0.42	-626	-1,182	0.53
JUBLFOOD	6,438	10,484	0.61	536	-381	-1.41
KALYANKJIL	4,803	9,605	0.50	149	407	0.37
KAYNES	29,693	75,639	0.39	-1,154	-1,426	0.81
KEI	2,616	3,790	0.69	28	-90	-0.31
KFINTECH	4,049	5,870	0.69	-137	-727	0.19
KOTAKBANK	17,763	21,320	0.83	-142	-12	11.83
KPITTECH	3,837	6,927	0.55	46	351	0.13
LAURUSLABS	5,293	9,408	0.56	95	-272	-0.35
LICHSGFIN	7,583	9,433	0.80	-27	-269	0.10
LICI	6,051	12,193	0.50	108	77	1.40
LODHA	4,893	11,047	0.44	193	-1,247	-0.15
LT	17,482	31,643	0.55	-497	39	-12.74
LTF	5,122	8,144	0.63	0	120	0.00
LTIM	4,666	6,379	0.73	141	588	0.24
LUPIN	5,300	6,757	0.78	101	-110	-0.92
M&M	17,096	33,388	0.51	407	1,128	0.36
MANAPPURAM	3,999	6,340	0.63	208	745	0.28
MANKIND	2,430	4,685	0.52	-9	-488	0.02
MARICO	3,116	4,910	0.63	-54	-318	0.17
MARUTI	28,046	31,252	0.90	-1,280	-281	4.56
MAXHEALTH	6,422	11,011	0.58	-415	-2,276	0.18
MAZDOCK	10,027	22,706	0.44	147	-530	-0.28
MCX	15,264	23,199	0.66	53	-1,119	-0.05
MFSL	2,402	4,403	0.55	40	-68	-0.59
MOTHERSON	6,009	8,841	0.68	-1,358	-447	3.04
MPHASIS	3,723	5,554	0.67	162	762	0.21
MUTHOOTFIN	5,498	10,692	0.51	-276	-263	1.05
NATIONALUM	6,792	8,323	0.82	154	77	2.00
NAUKRI	5,840	7,370	0.79	-170	150	-1.13
NBCC	3,411	9,151	0.37	151	693	0.22
NCC	3,792	9,100	0.42	109	326	0.33
NESTLEIND	4,308	14,313	0.30	-63	91	-0.69
NHPC	3,181	7,137	0.45	19	95	0.20
NMDC	10,033	13,848	0.72	-65	-7	9.17
NTPC	13,903	23,834	0.58	-111	1,305	-0.09
NUVAMA	3,008	6,273	0.48	488	2,148	0.23
NYKAA	2,800	7,267	0.39	21	296	0.07
OBEROIRLTY	3,915	5,206	0.75	332	-618	-0.54
OFSS	6,143	11,226	0.55	-278	1,021	-0.27
OIL	2,517	4,760	0.53	-46	-226	0.20
ONGC	10,803	26,861	0.40	-141	68	-2.07
PAGEIND	3,556	8,611	0.41	68	1	68.00
PATANJALI	4,817	8,537	0.56	589	-360	-1.64
PAYTM	8,078	13,939	0.58	247	-371	-0.67
PERSISTENT	6,775	11,119	0.61	286	-272	-1.05
PETRONET	9,001	8,550	1.05	101	78	1.29
PFC	21,401	34,799	0.61	432	-74	-5.84
PGEL	7,820	11,930	0.66	-69	-520	0.13
PHOENIXLTD	1,815	3,540	0.51	69	-107	-0.64
PIDILITIND	1,913	2,795	0.68	10	129	0.08
PIIND	3,727	5,688	0.66	194	-115	-1.69
PNB	11,596	21,054	0.55	-6	196	-0.03
PNBHOUSING	6,839	11,950	0.57	-235	547	-0.43
POLICYBZR	5,791	8,744	0.66	-29	-729	0.04
POLYCAB	4,799	7,906	0.61	-784	-615	1.27
POWERGRID	10,844	18,246	0.59	246	944	0.26
POWERINDIA	4,034	12,608	0.32	128	2,265	0.06
PPLPHARMA	3,029	7,230	0.42	27	131	0.21
PRESTIGE	2,793	4,423	0.63	24	74	0.32
RBLBANK	4,823	8,062	0.60	-51	-188	0.27
RECLTD	21,544	33,594	0.64	-585	-1,423	0.41
RELIANCE	49,615	95,567	0.52	-759	-1,374	0.55
RVNL	6,094	13,027	0.47	-155	-142	1.09
SAIL	5,900	10,883	0.54	37	462	0.08
SAMMAANCAP	9,201	13,476	0.68	677	-503	-1.35
SBICARD	4,825	7,200	0.67	-92	-685	0.13
SBILIFE	5,529	11,633	0.48	136	260	0.52
SBIN	41,313	59,049	0.70	-414	-1,325	0.31
SHREECEM	2,274	5,993	0.38	-11	604	-0.02
SHRIRAMFIN	15,279	23,404	0.65	1,103	-1,205	-0.92
SIEMENS	9,114	19,949	0.46	120	2,214	0.05
SOLARINDS	4,245	10,745	0.40	89	-242	-0.37
SONACOMS	2,543	5,637	0.45	-13	-223	0.06
SRF	7,603	9,232	0.82	438	-427	-1.03
SUNPHARMA	7,908	25,425	0.31	1,193	4,814	0.25
SUPREMEIND	4,181	6,983	0.60	-38	-220	0.17
SUZLON	10,053	25,066	0.40	-37	43	-0.86
SYNGENE	1,439	3,052	0.47	0	-18	0.00
TATACONSUM	5,191	9,888	0.52	-98	-115	0.85
TATAELXSI	5,513	15,182	0.36	9	-217	-0.04
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,392	27,995	0.69	141	912	0.15
TATASTEEL	14,978	27,143	0.55	-742	864	-0.86
TATATECH	4,745	7,631	0.62	-56	54	-1.04
TCS	35,513	46,220	0.77	-1,980	-2,911	0.68
TECHM	8,507	10,081	0.84	802	-202	-3.97
TIINDIA	4,804	7,732	0.62	139	-68	-2.04
TITAGARH	2,716	5,669	0.48	126	438	0.29
TITAN	13,080	20,876	0.63	111	-48	-2.31
TMPV	40,483	82,054	0.49	-280	-4,167	0.07
TORNTPHARM	1,173	2,574	0.46	20	-20	-1.00
TORNTPOWER	1,832	3,588	0.51	-26	299	-0.09
TRENT	26,343	52,912	0.50	-386	1,259	-0.31
TVSMOTOR	9,337	9,831	0.95	-195	313	-0.62
ULTRACEMCO	11,550	21,844	0.53	264	2,393	0.11
UNIONBANK	5,320	7,983	0.67	-177	-320	0.55
UNITDSPR	10,233	10,309	0.99	1,991	572	3.48
UNOMINDA	2,752	5,292	0.52	-72	245	-0.29
UPL	4,871	6,899	0.71	33	10	3.30
VBL	9,451	19,046	0.50	-369	-4,208	0.09
VEDL	42,943	40,610	1.06	3,220	-2,398	-1.34
VOLTAS	6,844	8,762	0.78	658	537	1.23
WIPRO	11,297	14,303	0.79	361	361	1.00
YESBANK	6,379	13,051	0.49	-54	23	-2.35
ZYDUSLIFE	3,530	4,821	0.73	95	124	0.77

Understanding PCR & COI Metrics

PCR (Put-Call Ratio)

PCR = Put OI / Call OI

> 1.2

Bullish

More puts than calls, potential support

0.8 - 1.2

Neutral

Balanced market sentiment

< 0.8

Bearish

More calls than puts, potential resistance

COI Strength

COI Strength = (PE COI - CE COI) / (|PE| + |CE|)

> 0.3

Bullish

Strong put buildup dominance

-0.3 to 0.3

Neutral

Balanced intraday activity

< -0.3

Bearish

Strong call buildup dominance

Frequently Asked Questions

PCR is the ratio of total Put Open Interest to Call Open Interest. It's a contrarian indicator of market sentiment:

High PCR (>1.2): More traders are holding puts, expecting a decline. However, this often acts as support (bullish) as market makers hedge by buying the underlying.
Low PCR (<0.8): More traders are holding calls, expecting a rise. This often acts as resistance (bearish) as market makers hedge by selling the underlying.
Neutral PCR (0.8-1.2): Balanced sentiment with no strong directional bias.

Remember: PCR is contrarian - extreme readings often signal reversals rather than continuation.

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change, making it more responsive than total OI PCR.

Key Differences:

Regular PCR: Uses total accumulated Open Interest. Shows overall market positioning but changes slowly.
COI PCR: Uses only today's OI changes. Captures fresh positioning and provides timely intraday signals.

Use Case: COI PCR helps identify intraday sentiment shifts before they reflect in total PCR, making it valuable for day traders and short-term positions.

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|)

This normalized indicator measures the directional bias of intraday Open Interest changes on a scale from -1 to +1:

> 0.3 (Bullish): Put side dominance - fresh put writing or buying suggests bullish positioning.
-0.3 to 0.3 (Neutral): Balanced activity on both sides - no clear directional conviction.
< -0.3 (Bearish): Call side dominance - fresh call writing or buying suggests bearish positioning.

Advantages over PCR:

Normalized scale (-1 to +1) makes comparison across symbols easier
Not affected by extreme ratios when one side is very small
Clearly shows which side has stronger intraday momentum

PCR data updates based on the selected interval:

1 Minute Interval: Updates every minute during market hours, providing real-time intraday tracking.
1 Day Interval: Shows end-of-day PCR values for historical analysis and trend identification.

Note: OI data comes from the exchange and may have a slight delay. Premium users get access to faster refresh rates and more granular intervals.

Negative PCR occurs when Call OI Change is negative (unwinding) while Put OI Change is also negative, or vice versa.

Common Scenarios:

PE > 0, CE < 0: Puts building, Calls unwinding → Strong bullish signal
PE < 0, CE > 0: Puts unwinding, Calls building → Strong bearish signal
Both negative: Both sides unwinding → Low conviction, neutral to ranging market

Tip: When PCR becomes negative or very large, use COI Strength instead - it handles these edge cases better and provides clearer directional signals.

Best Practices for Combining PCR with Price:

Divergence Trading: If price is falling but COI PCR shows put buildup (>1.2), it may signal a bounce. If price is rising but COI PCR shows call buildup (<0.8), it may signal resistance.
Confirmation: Use PCR to confirm price trends. Rising prices with increasing calls or falling prices with increasing puts suggests trend continuation.
Extremes: Very high COI Strength (>0.6 or <-0.6) combined with price at support/resistance can signal strong reversals.
Intraday Pivots: Watch for sudden COI Strength shifts (e.g., from +0.5 to -0.3) as they often precede intraday trend changes.

Remember: PCR is a sentiment indicator, not a timing tool. Always combine with technical analysis, support/resistance levels, and risk management.

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