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.

MCX

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.

Multi Commodity Exchange

10324 +152.00 (1.49%)

L: 10181 H: 10365

Put-Call Ratio - MCX

19 Dec 2025 12:40 PM IST

Live

Expiry

Put OI

16,108

Call OI

22,344

PCR

0.72

Put OI Chg

1,358

Call OI Chg

33

COI PCR

41.15

COI Strength

0.95

Interval

On 9:30 MCX was trading at 10256 with pcr value 0.66

On 9:45 MCX was trading at 10338 with pcr value 0.7

On 10:00 MCX was trading at 10329 with pcr value 0.69

On 10:15 MCX was trading at 10320 with pcr value 0.7

On 10:30 MCX was trading at 10328 with pcr value 0.71

On 10:45 MCX was trading at 10309 with pcr value 0.71

On 11:00 MCX was trading at 10306 with pcr value 0.71

On 11:15 MCX was trading at 10267 with pcr value 0.7

On 11:30 MCX was trading at 10249 with pcr value 0.69

On 11:45 MCX was trading at 10290 with pcr value 0.7

On 12:00 MCX was trading at 10295 with pcr value 0.7

On 12:15 MCX was trading at 10307 with pcr value 0.71

On 12:30 MCX was trading at 10310 with pcr value 0.71

On 12:41 MCX was trading at 10320 with pcr value 0.72

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	2,083	3,588	0.58	-2	12	-0.17
ABB	5,246	7,066	0.74	-92	-41	2.24
ABCAPITAL	4,616	7,993	0.58	-77	-112	0.69
ADANIENSOL	3,277	6,047	0.54	20	62	0.32
ADANIENT	28,504	46,412	0.61	1,922	2,692	0.71
ADANIGREEN	10,037	18,117	0.55	288	-333	-0.86
ADANIPORTS	9,400	19,088	0.49	183	459	0.40
ALKEM	1,329	2,135	0.62	94	66	1.42
AMBER	7,074	11,110	0.64	-194	114	-1.70
AMBUJACEM	8,330	11,417	0.73	19	-48	-0.40
ANGELONE	7,880	20,017	0.39	180	-651	-0.28
APLAPOLLO	2,382	3,009	0.79	151	406	0.37
APOLLOHOSP	9,226	18,225	0.51	361	-69	-5.23
ASHOKLEY	15,183	13,814	1.10	1,740	460	3.78
ASIANPAINT	16,864	33,265	0.51	222	-1,367	-0.16
ASTRAL	4,315	8,322	0.52	47	289	0.16
AUBANK	6,365	7,909	0.80	-77	81	-0.95
AUROPHARMA	5,227	11,951	0.44	483	1,823	0.26
AXISBANK	21,116	45,608	0.46	-620	-1,847	0.34
BAJAJ-AUTO	14,836	27,036	0.55	599	-1,479	-0.41
BAJAJFINSV	14,029	21,128	0.66	-55	-125	0.44
BAJFINANCE	22,616	37,874	0.60	-529	-1,896	0.28
BANDHANBNK	7,478	10,882	0.69	-144	-269	0.54
BANKBARODA	11,974	13,936	0.86	52	-571	-0.09
BANKINDIA	3,627	4,996	0.73	3	-7	-0.43
BDL	8,641	21,938	0.39	125	263	0.48
BEL	26,036	58,028	0.45	10	-1,394	-0.01
BHARATFORG	4,663	7,625	0.61	331	720	0.46
BHARTIARTL	18,957	41,297	0.46	336	2,241	0.15
BHEL	8,713	19,399	0.45	-82	263	-0.31
BIOCON	6,178	11,642	0.53	129	-108	-1.19
BLUESTARCO	2,484	2,892	0.86	725	1,040	0.70
BOSCHLTD	1,615	3,798	0.43	9	2	4.50
BPCL	5,457	9,440	0.58	42	58	0.72
BRITANNIA	6,508	9,682	0.67	332	-786	-0.42
BSE	16,950	33,225	0.51	-58	1,114	-0.05
CAMS	4,749	7,653	0.62	-47	-211	0.22
CANBK	12,197	16,052	0.76	61	954	0.06
CDSL	9,673	22,809	0.42	-35	-68	0.51
CGPOWER	4,440	10,575	0.42	-160	-100	1.60
CHOLAFIN	10,183	10,640	0.96	1,938	1,347	1.44
CIPLA	10,255	14,797	0.69	327	-237	-1.38
COALINDIA	13,347	13,279	1.01	283	232	1.22
COFORGE	9,062	21,028	0.43	245	1,357	0.18
COLPAL	7,708	12,269	0.63	-133	-269	0.49
CONCOR	7,769	10,290	0.76	16	111	0.14
CROMPTON	6,786	14,407	0.47	-77	950	-0.08
CUMMINSIND	3,977	7,769	0.51	134	1,385	0.10
CYIENT	2,353	3,630	0.65	-4	-48	0.08
DABUR	6,488	11,632	0.56	-5	-8	0.63
DALBHARAT	2,834	4,489	0.63	42	110	0.38
DELHIVERY	4,090	6,282	0.65	84	-17	-4.94
DIVISLAB	9,503	18,603	0.51	2,760	8,983	0.31
DIXON	35,326	73,055	0.48	42	6,426	0.01
DLF	16,572	25,718	0.64	-1,005	-277	3.63
DMART	7,219	17,359	0.42	-115	-56	2.05
DRREDDY	5,077	10,754	0.47	-110	372	-0.30
EICHERMOT	11,160	14,714	0.76	604	-298	-2.03
ETERNAL	18,192	35,223	0.52	-453	-1,044	0.43
EXIDEIND	4,349	6,577	0.66	-6	-165	0.04
FEDERALBNK	9,068	7,820	1.16	784	-70	-11.20
FORTIS	3,608	7,952	0.45	83	-75	-1.11
GAIL	12,905	19,305	0.67	-243	-738	0.33
GLENMARK	7,239	11,140	0.65	-547	598	-0.91
GMRAIRPORT	10,477	21,661	0.48	-41	783	-0.05
GODREJCP	3,753	5,581	0.67	-29	118	-0.25
GODREJPROP	6,905	11,654	0.59	-10	-385	0.03
GRASIM	9,401	8,378	1.12	-11	-183	0.06
HAL	28,219	53,672	0.53	-279	-1,145	0.24
HAVELLS	3,957	4,973	0.80	181	79	2.29
HCLTECH	13,117	25,985	0.50	1,346	5,452	0.25
HDFCAMC	8,710	11,531	0.76	-2,747	-87	31.57
HDFCBANK	43,058	75,976	0.57	268	-884	-0.30
HDFCLIFE	7,149	16,067	0.44	63	-269	-0.23
HEROMOTOCO	14,053	31,933	0.44	430	176	2.44
HFCL	4,817	11,491	0.42	-133	-63	2.11
HINDALCO	15,120	20,949	0.72	-514	313	-1.64
HINDPETRO	4,089	7,016	0.58	38	120	0.32
HINDUNILVR	9,677	20,616	0.47	-175	-130	1.35
HINDZINC	26,467	37,320	0.71	-113	1,682	-0.07
HUDCO	6,425	14,785	0.43	15	49	0.31
ICICIBANK	30,968	52,209	0.59	-470	1,900	-0.25
ICICIGI	3,142	6,135	0.51	-48	151	-0.32
ICICIPRULI	2,442	4,891	0.50	82	-8	-10.25
IDEA	14,237	24,952	0.57	154	-309	-0.50
IDFCFIRSTB	9,706	12,243	0.79	-7	92	-0.08
IEX	8,224	11,214	0.73	-80	-76	1.05
IIFL	2,692	4,429	0.61	35	83	0.42
INDHOTEL	6,297	9,765	0.64	17	-188	-0.08
INDIANB	4,801	12,249	0.39	-21	380	-0.06
INDIGO	54,333	96,854	0.56	1,004	151	6.65
INDUSINDBK	13,018	18,598	0.70	224	481	0.47
INDUSTOWER	8,421	14,270	0.59	-122	-264	0.46
INFY	49,345	70,846	0.70	2,066	6,808	0.30
INOXWIND	6,682	13,499	0.49	-36	-300	0.12
IOC	7,386	11,552	0.64	-299	-95	3.15
IRCTC	6,996	10,440	0.67	-77	-142	0.54
IREDA	5,120	10,440	0.49	-7	146	-0.05
IRFC	4,722	9,409	0.50	62	65	0.95
ITC	20,460	33,728	0.61	56	-544	-0.10
JINDALSTEL	5,710	9,328	0.61	59	143	0.41
JIOFIN	18,296	26,290	0.70	42	-407	-0.10
JSWENERGY	9,652	15,133	0.64	62	18	3.44
JSWSTEEL	11,716	27,831	0.42	-96	208	-0.46
JUBLFOOD	5,876	9,841	0.60	-171	-447	0.38
KALYANKJIL	4,806	9,313	0.52	42	-94	-0.45
KAYNES	29,795	72,361	0.41	497	-2,668	-0.19
KEI	2,697	4,067	0.66	125	319	0.39
KFINTECH	4,321	5,781	0.75	90	324	0.28
KOTAKBANK	17,760	20,913	0.85	170	-141	-1.21
KPITTECH	3,859	6,975	0.55	32	173	0.18
LAURUSLABS	6,108	9,754	0.63	853	489	1.74
LICHSGFIN	7,632	9,166	0.83	33	-102	-0.32
LICI	6,113	11,844	0.52	41	-131	-0.31
LODHA	4,947	10,620	0.47	75	-310	-0.24
LT	19,154	30,749	0.62	1,613	-865	-1.86
LTF	5,140	7,867	0.65	47	-117	-0.40
LTIM	5,769	7,821	0.74	1,031	1,590	0.65
LUPIN	5,441	6,697	0.81	167	47	3.55
M&M	17,135	32,289	0.53	32	-391	-0.08
MANAPPURAM	3,715	6,237	0.60	-62	-93	0.67
MANKIND	2,418	4,593	0.53	30	11	2.73
MARICO	3,178	5,040	0.63	12	163	0.07
MARUTI	29,667	31,450	0.94	1,577	333	4.74
MAXHEALTH	6,625	11,484	0.58	249	384	0.65
MAZDOCK	10,212	23,334	0.44	90	790	0.11
MCX	16,108	22,344	0.72	1,358	33	41.15
MFSL	2,400	4,455	0.54	0	81	0.00
MOTHERSON	6,426	8,855	0.73	379	-37	-10.24
MPHASIS	4,027	5,327	0.76	164	50	3.28
MUTHOOTFIN	5,518	10,703	0.52	21	105	0.20
NATIONALUM	6,872	8,569	0.80	8	331	0.02
NAUKRI	5,822	7,837	0.74	26	605	0.04
NBCC	3,422	8,130	0.42	41	-973	-0.04
NCC	3,718	9,075	0.41	-18	79	-0.23
NESTLEIND	4,391	14,304	0.31	75	36	2.08
NHPC	3,229	7,121	0.45	53	-11	-4.82
NMDC	10,175	14,300	0.71	149	523	0.29
NTPC	14,083	23,160	0.61	-54	-76	0.71
NUVAMA	3,125	6,936	0.45	192	1,094	0.18
NYKAA	2,789	7,197	0.39	-21	46	-0.46
OBEROIRLTY	3,768	5,179	0.73	64	26	2.46
OFSS	6,438	11,914	0.54	428	810	0.53
OIL	2,498	4,659	0.54	-77	-123	0.63
ONGC	10,636	26,738	0.40	-108	32	-3.38
PAGEIND	3,581	9,537	0.38	22	978	0.02
PATANJALI	4,782	8,878	0.54	55	443	0.12
PAYTM	8,511	13,977	0.61	496	90	5.51
PERSISTENT	7,263	12,028	0.60	432	1,022	0.42
PETRONET	9,016	8,281	1.09	14	-263	-0.05
PFC	22,496	33,367	0.67	1,087	-1,399	-0.78
PGEL	7,322	11,868	0.62	-407	74	-5.50
PHOENIXLTD	1,766	3,383	0.52	-5	-67	0.07
PIDILITIND	1,934	2,858	0.68	8	104	0.08
PIIND	3,760	5,703	0.66	-8	67	-0.12
PNB	11,551	20,898	0.55	-29	-81	0.35
PNBHOUSING	6,908	11,907	0.58	15	-20	-0.75
POLICYBZR	6,391	8,000	0.80	543	-374	-1.45
POLYCAB	6,041	8,359	0.72	1,316	600	2.19
POWERGRID	10,611	17,036	0.62	-151	-832	0.18
POWERINDIA	4,717	14,034	0.34	619	1,097	0.56
PPLPHARMA	3,009	7,311	0.41	6	140	0.04
PRESTIGE	2,796	4,276	0.65	50	-40	-1.25
RBLBANK	4,858	8,019	0.61	27	-6	-4.50
RECLTD	21,623	33,006	0.66	-90	-246	0.37
RELIANCE	50,723	86,849	0.58	1,472	-7,871	-0.19
RVNL	6,045	12,657	0.48	-62	-304	0.20
SAIL	6,052	11,775	0.51	65	937	0.07
SAMMAANCAP	8,911	13,256	0.67	-371	-313	1.19
SBICARD	4,828	7,020	0.69	39	-7	-5.57
SBILIFE	5,751	11,386	0.51	244	-133	-1.83
SBIN	39,840	58,113	0.69	-1,491	-162	9.20
SHREECEM	2,557	6,752	0.38	295	877	0.34
SHRIRAMFIN	18,939	24,405	0.78	3,462	1,399	2.47
SIEMENS	8,870	19,502	0.45	216	-153	-1.41
SOLARINDS	4,218	11,195	0.38	29	625	0.05
SONACOMS	2,682	5,429	0.49	118	-176	-0.67
SRF	7,428	8,509	0.87	36	-482	-0.07
SUNPHARMA	8,711	24,179	0.36	143	-1,995	-0.07
SUPREMEIND	4,145	7,199	0.58	-43	196	-0.22
SUZLON	10,096	25,080	0.40	-38	114	-0.33
SYNGENE	1,610	3,566	0.45	146	145	1.01
TATACONSUM	5,135	9,750	0.53	-19	-70	0.27
TATAELXSI	13,972	19,696	0.71	8,478	4,836	1.75
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,038	27,436	0.69	-180	-893	0.20
TATASTEEL	14,819	27,847	0.53	-70	799	-0.09
TATATECH	4,769	7,534	0.63	43	-67	-0.64
TCS	35,578	46,109	0.77	-190	-589	0.32
TECHM	8,821	10,393	0.85	139	300	0.46
TIINDIA	4,943	7,567	0.65	22	-114	-0.19
TITAGARH	2,708	5,799	0.47	-9	195	-0.05
TITAN	14,871	22,029	0.68	1,659	1,379	1.20
TMPV	37,603	76,935	0.49	-2,610	-3,056	0.85
TORNTPHARM	1,247	2,605	0.48	65	116	0.56
TORNTPOWER	1,909	3,505	0.54	69	-8	-8.63
TRENT	26,248	50,652	0.52	11	-1,463	-0.01
TVSMOTOR	9,838	9,113	1.08	753	-363	-2.07
ULTRACEMCO	11,709	21,118	0.55	226	-127	-1.78
UNIONBANK	5,317	8,518	0.62	65	584	0.11
UNITDSPR	8,260	10,172	0.81	70	131	0.53
UNOMINDA	2,812	5,402	0.52	22	32	0.69
UPL	4,901	6,984	0.70	26	148	0.18
VBL	9,264	19,079	0.49	-117	423	-0.28
VEDL	42,071	40,776	1.03	-566	976	-0.58
VOLTAS	6,675	11,445	0.58	-74	2,590	-0.03
WIPRO	12,054	14,474	0.83	219	343	0.64
YESBANK	6,341	13,113	0.48	-22	126	-0.17
ZYDUSLIFE	3,540	5,016	0.71	3	223	0.01

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 MCX

MCX

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

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