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.

MAXHEALTH

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.

Max Healthcare Ins Ltd

1032.9 +1.80 (0.17%)

L: 1026 H: 1036.1

Put-Call Ratio - MAXHEALTH

18 Dec 2025 09:23 AM IST

Live

Expiry

Put OI

6,850

Call OI

13,186

PCR

0.52

Put OI Chg

13

Call OI Chg

-101

COI PCR

-0.13

COI Strength

1.00

Interval

On 9:24 MAXHEALTH was trading at 1032.3 with pcr value 0.52

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	2,150	3,506	0.61	8	76	0.11
ABB	5,161	6,668	0.77	-9	20	-0.45
ABCAPITAL	4,908	8,115	0.60	-27	23	-1.17
ADANIENSOL	3,344	5,835	0.57	1	13	0.08
ADANIENT	26,176	43,993	0.60	11	33	0.33
ADANIGREEN	10,162	19,356	0.53	1	11	0.09
ADANIPORTS	9,159	18,874	0.49	21	53	0.40
ALKEM	1,235	1,916	0.64	30	3	10.00
AMBER	7,024	11,197	0.63	-10	68	-0.15
AMBUJACEM	8,466	10,899	0.78	-5	19	-0.26
ANGELONE	7,507	19,317	0.39	-3	-53	0.06
APLAPOLLO	2,380	2,961	0.80	2	-77	-0.03
APOLLOHOSP	6,857	18,701	0.37	42	53	0.79
ASHOKLEY	12,308	12,595	0.98	15	33	0.45
ASIANPAINT	16,939	34,013	0.50	-3	5	-0.60
ASTRAL	4,105	8,086	0.51	17	3	5.67
AUBANK	6,490	8,014	0.81	-15	-18	0.83
AUROPHARMA	4,490	10,601	0.42	9	62	0.15
AXISBANK	23,635	53,994	0.44	-22	7	-3.14
BAJAJ-AUTO	14,552	28,593	0.51	-69	265	-0.26
BAJAJFINSV	14,052	21,484	0.65	15	-15	-1.00
BAJFINANCE	23,899	40,993	0.58	-1	69	-0.01
BANDHANBNK	7,630	11,378	0.67	0	0	0.00
BANKBARODA	12,283	15,228	0.81	80	-39	-2.05
BANKINDIA	3,535	5,047	0.70	0	-7	0.00
BDL	8,484	21,898	0.39	-57	-68	0.84
BEL	26,592	61,158	0.43	4	325	0.01
BHARATFORG	4,296	7,028	0.61	3	53	0.06
BHARTIARTL	19,150	39,067	0.49	36	55	0.65
BHEL	8,858	18,778	0.47	14	13	1.08
BIOCON	6,340	12,578	0.50	12	8	1.50
BLUESTARCO	1,578	2,264	0.70	0	-6	0.00
BOSCHLTD	1,632	3,492	0.47	6	2	3.00
BPCL	5,494	9,451	0.58	9	-6	-1.50
BRITANNIA	6,354	10,061	0.63	64	228	0.28
BSE	17,809	37,036	0.48	-2	-48	0.04
CAMS	4,895	7,568	0.65	86	-65	-1.32
CANBK	12,358	15,291	0.81	19	7	2.71
CDSL	9,767	23,587	0.41	10	-42	-0.24
CGPOWER	4,757	10,934	0.44	-3	-22	0.14
CHOLAFIN	6,620	9,102	0.73	22	13	1.69
CIPLA	9,984	15,573	0.64	-5	29	-0.17
COALINDIA	12,976	13,183	0.98	8	-29	-0.28
COFORGE	8,847	19,823	0.45	16	-35	-0.46
COLPAL	7,950	13,258	0.60	13	112	0.12
CONCOR	7,828	10,426	0.75	0	2	0.00
CROMPTON	6,178	11,829	0.52	-9	-210	0.04
CUMMINSIND	3,828	5,303	0.72	-7	43	-0.16
CYIENT	2,367	3,495	0.68	-3	23	-0.13
DABUR	6,258	11,713	0.53	-1	22	-0.05
DALBHARAT	2,894	3,936	0.74	21	-3	-7.00
DELHIVERY	4,016	6,469	0.62	-1	9	-0.11
DIVISLAB	6,622	9,434	0.70	-4	-2	2.00
DIXON	35,424	68,320	0.52	89	473	0.19
DLF	16,718	26,156	0.64	57	-94	-0.61
DMART	6,987	15,369	0.45	-1	-29	0.03
DRREDDY	5,135	10,615	0.48	12	-1	-12.00
EICHERMOT	10,994	15,695	0.70	-155	281	-0.55
ETERNAL	19,061	37,333	0.51	44	155	0.28
EXIDEIND	4,198	6,029	0.70	14	8	1.75
FEDERALBNK	8,230	8,282	0.99	-8	1	-8.00
FORTIS	3,620	8,409	0.43	0	-8	0.00
GAIL	13,465	20,254	0.66	13	-18	-0.72
GLENMARK	7,849	10,967	0.72	-1	49	-0.02
GMRAIRPORT	10,933	20,045	0.55	4	-10	-0.40
GODREJCP	3,700	5,842	0.63	4	14	0.29
GODREJPROP	7,003	11,874	0.59	-24	-1	24.00
GRASIM	9,472	8,715	1.09	0	100	0.00
HAL	28,102	57,365	0.49	-6	45	-0.13
HAVELLS	3,693	5,060	0.73	1	10	0.10
HCLTECH	11,319	20,366	0.56	-22	-19	1.16
HDFCAMC	6,001	7,878	0.76	417	755	0.55
HDFCBANK	42,534	74,058	0.57	-18	162	-0.11
HDFCLIFE	7,175	17,381	0.41	6	48	0.13
HEROMOTOCO	12,759	24,434	0.52	125	1,690	0.07
HFCL	4,920	11,870	0.41	-4	2	-2.00
HINDALCO	15,316	20,952	0.73	73	3	24.33
HINDPETRO	4,005	7,045	0.57	8	33	0.24
HINDUNILVR	9,963	20,618	0.48	7	-65	-0.11
HINDZINC	25,761	38,142	0.68	214	96	2.23
HUDCO	6,264	14,564	0.43	0	7	0.00
ICICIBANK	32,746	54,047	0.61	105	-31	-3.39
ICICIGI	3,098	6,025	0.51	-1	0	0.00
ICICIPRULI	2,181	4,895	0.45	-2	-5	0.40
IDEA	15,083	24,861	0.61	10	-4	-2.50
IDFCFIRSTB	9,679	12,581	0.77	-1	-4	0.25
IEX	8,397	11,495	0.73	16	19	0.84
IIFL	2,703	4,487	0.60	1	11	0.09
INDHOTEL	6,040	10,490	0.58	10	37	0.25
INDIANB	4,844	12,201	0.40	2	10	0.20
INDIGO	49,762	1,05,529	0.47	56	-150	-0.37
INDUSINDBK	12,998	18,919	0.69	-27	101	-0.27
INDUSTOWER	8,727	15,250	0.57	-50	-48	1.04
INFY	40,235	63,870	0.63	894	195	4.58
INOXWIND	6,759	13,886	0.49	-6	0	0.00
IOC	7,990	11,898	0.67	78	-186	-0.42
IRCTC	7,637	11,036	0.69	-10	4	-2.50
IREDA	5,072	10,266	0.49	3	4	0.75
IRFC	4,645	9,551	0.49	0	1	0.00
ITC	21,902	35,191	0.62	160	-28	-5.71
JINDALSTEL	5,512	9,210	0.60	3	-1	-3.00
JIOFIN	17,777	26,427	0.67	36	18	2.00
JSWENERGY	10,083	15,065	0.67	-18	-14	1.29
JSWSTEEL	12,438	29,057	0.43	2	-43	-0.05
JUBLFOOD	5,887	10,815	0.54	-15	-50	0.30
KALYANKJIL	4,660	9,180	0.51	6	-18	-0.33
KAYNES	31,250	77,382	0.40	403	317	1.27
KEI	2,592	3,889	0.67	4	9	0.44
KFINTECH	4,187	6,350	0.66	1	-247	-0.00
KOTAKBANK	17,874	21,476	0.83	-31	144	-0.22
KPITTECH	3,796	6,577	0.58	5	1	5.00
LAURUSLABS	5,211	9,748	0.53	13	68	0.19
LICHSGFIN	7,613	9,699	0.78	3	-3	-1.00
LICI	5,918	12,182	0.49	-25	66	-0.38
LODHA	4,717	12,266	0.38	17	-28	-0.61
LT	18,010	31,775	0.57	31	171	0.18
LTF	5,133	8,050	0.64	11	26	0.42
LTIM	4,524	5,808	0.78	-1	17	-0.06
LUPIN	5,202	6,930	0.75	3	63	0.05
M&M	16,571	32,880	0.50	-118	620	-0.19
MANAPPURAM	3,791	5,600	0.68	0	5	0.00
MANKIND	2,443	5,180	0.47	4	7	0.57
MARICO	3,175	5,232	0.61	5	4	1.25
MARUTI	28,739	31,709	0.91	-587	176	-3.34
MAXHEALTH	6,816	13,253	0.51	-21	-34	0.62
MAZDOCK	9,924	23,225	0.43	44	-11	-4.00
MCX	15,342	24,455	0.63	131	137	0.96
MFSL	2,360	4,488	0.53	-2	17	-0.12
MOTHERSON	7,324	9,268	0.79	-43	-20	2.15
MPHASIS	3,561	4,774	0.75	0	-18	0.00
MUTHOOTFIN	5,757	10,976	0.52	-17	21	-0.81
NATIONALUM	6,617	8,286	0.80	-21	40	-0.53
NAUKRI	6,014	7,236	0.83	4	16	0.25
NBCC	3,260	8,491	0.38	0	33	0.00
NCC	3,687	8,775	0.42	4	1	4.00
NESTLEIND	4,377	14,241	0.31	6	19	0.32
NHPC	3,162	7,046	0.45	0	4	0.00
NMDC	10,102	13,861	0.73	4	6	0.69
NTPC	13,689	22,632	0.60	-325	103	-3.16
NUVAMA	2,487	4,239	0.59	-33	114	-0.29
NYKAA	2,768	6,974	0.40	-11	3	-3.67
OBEROIRLTY	3,577	5,830	0.61	-6	6	-1.00
OFSS	6,457	10,256	0.63	36	51	0.71
OIL	2,563	4,983	0.51	0	-3	0.00
ONGC	10,938	26,795	0.41	-6	2	-3.00
PAGEIND	3,489	8,524	0.41	1	-86	-0.01
PATANJALI	4,231	8,842	0.48	3	-55	-0.05
PAYTM	7,832	14,400	0.54	1	90	0.01
PERSISTENT	6,551	11,466	0.57	62	75	0.83
PETRONET	8,918	8,486	1.05	18	14	1.29
PFC	20,988	34,892	0.60	19	19	1.00
PGEL	7,896	12,450	0.63	7	0	0.00
PHOENIXLTD	1,746	3,648	0.48	0	1	0.00
PIDILITIND	1,900	2,677	0.71	-3	11	-0.27
PIIND	3,538	5,807	0.61	5	4	1.25
PNB	11,607	20,884	0.56	5	26	0.20
PNBHOUSING	7,078	11,407	0.62	4	4	1.00
POLICYBZR	5,851	9,462	0.62	31	-11	-2.82
POLYCAB	5,579	8,576	0.65	-4	55	-0.07
POWERGRID	10,602	17,269	0.61	4	-33	-0.12
POWERINDIA	3,905	10,409	0.38	-1	66	-0.02
PPLPHARMA	3,001	7,098	0.42	-1	-1	1.00
PRESTIGE	2,771	4,347	0.64	2	-2	-1.00
RBLBANK	4,877	8,258	0.59	3	8	0.38
RECLTD	22,106	35,044	0.63	-23	27	-0.85
RELIANCE	50,332	97,040	0.52	-42	99	-0.42
RVNL	6,256	13,172	0.47	7	3	2.33
SAIL	5,861	10,430	0.56	-2	9	-0.22
SAMMAANCAP	8,498	13,999	0.61	-26	20	-1.30
SBICARD	4,948	7,781	0.64	31	-104	-0.30
SBILIFE	5,398	11,366	0.47	5	-7	-0.71
SBIN	41,935	60,646	0.69	208	272	0.76
SHREECEM	2,290	5,394	0.42	5	5	1.00
SHRIRAMFIN	14,266	24,621	0.58	90	12	7.50
SIEMENS	8,923	17,940	0.50	-71	205	-0.35
SOLARINDS	4,155	11,007	0.38	-1	20	-0.05
SONACOMS	2,554	5,881	0.43	-2	21	-0.10
SRF	7,162	9,667	0.74	-3	8	-0.38
SUNPHARMA	6,530	20,270	0.32	-185	-341	0.54
SUPREMEIND	4,235	7,222	0.59	16	19	0.84
SUZLON	10,109	24,999	0.40	19	-24	-0.79
SYNGENE	1,442	3,074	0.47	3	4	0.75
TATACONSUM	5,296	10,009	0.53	7	6	1.17
TATAELXSI	5,553	15,404	0.36	49	5	9.80
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,310	27,113	0.71	59	30	1.97
TATASTEEL	15,652	26,385	0.59	-68	106	-0.64
TATATECH	4,782	7,580	0.63	-19	3	-6.33
TCS	37,659	49,113	0.77	166	-18	-9.22
TECHM	7,767	10,269	0.76	62	-14	-4.43
TIINDIA	4,665	7,807	0.60	0	7	0.00
TITAGARH	2,604	5,362	0.49	14	131	0.11
TITAN	13,026	20,947	0.62	57	23	2.48
TMPV	41,447	87,178	0.48	684	957	0.71
TORNTPHARM	1,161	2,606	0.45	8	12	0.67
TORNTPOWER	1,858	3,292	0.56	0	3	0.00
TRENT	26,777	51,535	0.52	48	-118	-0.41
TVSMOTOR	9,606	9,586	1.00	74	68	1.09
ULTRACEMCO	11,266	19,468	0.58	-20	17	-1.18
UNIONBANK	5,500	8,297	0.66	3	-6	-0.50
UNITDSPR	8,308	9,708	0.86	66	-29	-2.28
UNOMINDA	2,821	5,052	0.56	-3	5	-0.60
UPL	4,826	6,942	0.70	-12	53	-0.23
VBL	9,783	23,286	0.42	-37	32	-1.16
VEDL	39,798	42,955	0.93	75	-53	-1.42
VOLTAS	6,206	7,690	0.81	20	-535	-0.04
WIPRO	11,028	13,805	0.80	92	-137	-0.67
YESBANK	6,437	13,040	0.49	4	12	0.33
ZYDUSLIFE	3,347	4,685	0.71	2	-12	-0.17

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.

Related Pages for MAXHEALTH

MAXHEALTH

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

GMRAIRPORT

GODREJCP

GODREJPROP

GOLD