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.

PIIND

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.

Pi Industries Ltd

3374.1 +26.70 (0.80%)

L: 3331 H: 3386

Put-Call Ratio - PIIND

11 Dec 2025 03:01 PM IST

Live

Expiry

Put OI

2,558

Call OI

3,741

PCR

0.68

Put OI Chg

-62

Call OI Chg

-122

COI PCR

0.51

COI Strength

0.33

Interval

On 9:30 PIIND was trading at 3348 with pcr value 0.67

On 9:45 PIIND was trading at 3345 with pcr value 0.67

On 10:00 PIIND was trading at 3341.6 with pcr value 0.67

On 10:15 PIIND was trading at 3338.7 with pcr value 0.67

On 10:30 PIIND was trading at 3341.6 with pcr value 0.67

On 10:45 PIIND was trading at 3361.2 with pcr value 0.67

On 11:00 PIIND was trading at 3354.5 with pcr value 0.66

On 11:15 PIIND was trading at 3358 with pcr value 0.66

On 11:30 PIIND was trading at 3364.6 with pcr value 0.67

On 11:45 PIIND was trading at 3364.4 with pcr value 0.67

On 12:00 PIIND was trading at 3367.4 with pcr value 0.67

On 12:15 PIIND was trading at 3372.8 with pcr value 0.67

On 12:30 PIIND was trading at 3374.7 with pcr value 0.68

On 12:45 PIIND was trading at 3376.3 with pcr value 0.68

On 13:00 PIIND was trading at 3383.3 with pcr value 0.67

On 13:15 PIIND was trading at 3375.2 with pcr value 0.68

On 13:30 PIIND was trading at 3374.7 with pcr value 0.68

On 13:45 PIIND was trading at 3365.2 with pcr value 0.68

On 14:00 PIIND was trading at 3369.6 with pcr value 0.68

On 14:15 PIIND was trading at 3376.1 with pcr value 0.68

On 14:30 PIIND was trading at 3374.9 with pcr value 0.68

On 14:45 PIIND was trading at 3368.1 with pcr value 0.68

On 15:00 PIIND was trading at 3358.3 with pcr value 0.69

On 15:02 PIIND was trading at 3370 with pcr value 0.68

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	1,631	3,063	0.53	-58	-30	1.93
ABB	5,120	6,798	0.75	162	532	0.30
ABCAPITAL	4,934	7,698	0.64	313	305	1.03
ADANIENSOL	3,377	5,414	0.62	22	-173	-0.13
ADANIENT	27,560	42,864	0.64	949	-2,418	-0.39
ADANIGREEN	11,231	20,870	0.54	891	-811	-1.10
ADANIPORTS	9,751	18,375	0.53	39	-855	-0.05
ALKEM	1,139	1,786	0.64	65	34	1.91
AMBER	6,971	11,477	0.61	73	-382	-0.19
AMBUJACEM	9,126	12,179	0.75	-221	262	-0.84
ANGELONE	8,198	17,675	0.46	-221	-1,596	0.14
APLAPOLLO	2,426	2,692	0.90	426	-96	-4.44
APOLLOHOSP	7,416	15,471	0.48	609	966	0.63
ASHOKLEY	9,876	12,465	0.79	233	-195	-1.19
ASIANPAINT	17,284	30,045	0.58	358	1,702	0.21
ASTRAL	4,256	7,865	0.54	185	299	0.62
AUBANK	6,691	7,993	0.84	-411	222	-1.85
AUROPHARMA	4,433	10,462	0.42	40	72	0.56
AXISBANK	14,095	29,600	0.48	-94	-60	1.57
BAJAJ-AUTO	14,513	25,064	0.58	-260	-996	0.26
BAJAJFINSV	13,418	19,323	0.69	-75	-268	0.28
BAJFINANCE	22,492	37,168	0.61	836	2,204	0.38
BANDHANBNK	8,381	12,333	0.68	-80	-129	0.62
BANKBARODA	12,417	14,905	0.83	-137	408	-0.34
BANKINDIA	3,239	4,614	0.70	99	-55	-1.80
BDL	7,417	17,028	0.44	-440	-385	1.14
BEL	26,241	57,423	0.46	173	330	0.52
BHARATFORG	4,023	6,301	0.64	131	-84	-1.56
BHARTIARTL	18,420	40,312	0.46	519	2,015	0.26
BHEL	9,419	18,744	0.50	-18	-258	0.07
BIOCON	6,622	13,405	0.49	136	32	4.25
BLUESTARCO	889	1,314	0.68	96	-74	-1.30
BOSCHLTD	1,502	2,555	0.59	21	-308	-0.07
BPCL	5,113	7,716	0.66	345	511	0.68
BRITANNIA	4,596	7,450	0.62	-48	-3	16.00
BSE	17,539	30,008	0.58	378	-2,344	-0.16
CAMS	4,405	7,837	0.56	-27	-233	0.12
CANBK	12,086	15,666	0.77	125	-332	-0.38
CDSL	10,028	20,368	0.49	-58	-1,516	0.04
CGPOWER	4,769	8,802	0.54	-99	-12	8.25
CHOLAFIN	3,394	5,364	0.63	18	-3	-6.00
CIPLA	10,717	15,133	0.71	-86	-417	0.21
COALINDIA	12,574	11,498	1.09	90	-642	-0.14
COFORGE	8,559	21,976	0.39	-232	966	-0.24
COLPAL	6,607	8,857	0.75	-124	21	-5.90
CONCOR	7,090	9,443	0.75	-128	72	-1.78
CROMPTON	6,453	11,102	0.58	119	36	3.31
CUMMINSIND	3,589	4,314	0.83	173	-84	-2.06
CYIENT	1,875	2,719	0.69	2	-49	-0.04
DABUR	4,720	8,908	0.53	50	365	0.14
DALBHARAT	1,789	2,775	0.64	31	-169	-0.18
DELHIVERY	3,946	5,742	0.69	17	-1	-17.00
DIVISLAB	6,682	8,793	0.76	364	-403	-0.90
DIXON	35,078	71,609	0.49	5,526	1,353	4.08
DLF	16,350	24,207	0.68	10	-528	-0.02
DMART	7,596	13,032	0.58	660	412	1.60
DRREDDY	5,617	10,995	0.51	737	304	2.42
EICHERMOT	11,324	14,029	0.81	736	1,056	0.70
ETERNAL	18,076	31,010	0.58	338	-1,256	-0.27
EXIDEIND	3,889	5,099	0.76	-44	-26	1.69
FEDERALBNK	7,730	8,259	0.94	597	-35	-17.06
FORTIS	3,494	9,152	0.38	58	80	0.72
GAIL	12,892	19,642	0.66	-99	-19	5.21
GLENMARK	8,362	11,538	0.72	-352	146	-2.41
GMRAIRPORT	9,998	18,935	0.53	198	733	0.27
GODREJCP	2,895	4,001	0.72	7	-179	-0.04
GODREJPROP	6,959	12,020	0.58	-136	-135	1.01
GRASIM	8,872	9,274	0.96	383	-407	-0.94
HAL	27,472	53,059	0.52	-671	-919	0.73
HAVELLS	3,874	5,059	0.77	-10	55	-0.18
HCLTECH	11,672	19,131	0.61	-153	491	-0.31
HDFCAMC	4,092	5,189	0.79	-204	-295	0.69
HDFCBANK	41,513	60,490	0.69	-696	-7,394	0.09
HDFCLIFE	7,008	15,124	0.46	220	688	0.32
HEROMOTOCO	11,916	16,340	0.73	99	-928	-0.11
HFCL	4,441	10,118	0.44	1	-436	-0.00
HINDALCO	15,219	20,110	0.76	82	-96	-0.85
HINDPETRO	4,157	6,428	0.65	107	114	0.94
HINDUNILVR	7,141	16,119	0.44	89	159	0.56
HINDZINC	11,886	18,395	0.65	1,266	1,196	1.06
HUDCO	6,267	13,074	0.48	-176	-236	0.75
ICICIBANK	30,799	48,076	0.64	421	1,956	0.22
ICICIGI	3,215	5,003	0.64	70	-17	-4.12
ICICIPRULI	2,326	4,360	0.53	-245	41	-5.98
IDEA	15,428	26,734	0.58	553	-830	-0.67
IDFCFIRSTB	8,828	14,332	0.62	164	713	0.23
IEX	8,550	11,927	0.72	68	-104	-0.65
IIFL	2,490	3,893	0.64	-10	141	-0.07
INDHOTEL	5,718	8,563	0.67	158	-47	-3.31
INDIANB	4,687	10,879	0.43	-57	113	-0.50
INDIGO	56,448	1,18,597	0.48	1,966	6,750	0.29
INDUSINDBK	12,636	18,257	0.69	165	-150	-1.10
INDUSTOWER	8,301	13,462	0.62	-80	179	-0.45
INFY	37,201	58,721	0.63	-842	-409	2.06
INOXWIND	7,054	14,341	0.49	45	-610	-0.07
IOC	6,172	11,450	0.54	151	765	0.20
IRCTC	7,144	11,192	0.64	47	-135	-0.35
IREDA	5,060	10,687	0.47	-103	-149	0.69
IRFC	4,471	8,850	0.51	60	-11	-5.45
ITC	24,647	32,686	0.75	205	250	0.82
JINDALSTEL	5,434	8,038	0.68	8	91	0.09
JIOFIN	18,684	25,184	0.74	-189	-1,896	0.10
JSWENERGY	10,183	18,534	0.55	-352	-476	0.74
JSWSTEEL	14,419	27,779	0.52	-52	-368	0.14
JUBLFOOD	3,892	5,804	0.67	-114	-279	0.41
KALYANKJIL	4,701	8,882	0.53	392	-43	-9.12
KAYNES	30,413	81,315	0.37	1,076	2,931	0.37
KEI	1,632	3,053	0.53	31	-197	-0.16
KFINTECH	4,389	5,983	0.73	269	-180	-1.49
KOTAKBANK	20,782	21,802	0.95	5,935	3,136	1.89
KPITTECH	3,159	4,955	0.64	171	-585	-0.29
LAURUSLABS	5,071	8,985	0.56	211	-35	-6.03
LICHSGFIN	7,461	9,246	0.81	-52	113	-0.46
LICI	6,258	10,324	0.61	33	64	0.52
LODHA	4,625	10,302	0.45	-14	68	-0.21
LT	17,738	31,050	0.57	13	428	0.03
LTF	5,151	7,906	0.65	-11	-22	0.50
LTIM	4,680	6,045	0.77	-192	25	-7.68
LUPIN	4,909	6,377	0.77	184	-399	-0.46
M&M	16,350	27,679	0.59	-63	211	-0.30
MANAPPURAM	3,448	5,561	0.62	21	-68	-0.31
MANKIND	2,196	4,306	0.51	-16	207	-0.08
MARICO	2,664	3,904	0.68	-137	-268	0.51
MARUTI	24,630	30,184	0.82	4,350	425	10.24
MAXHEALTH	5,448	10,143	0.54	0	62	0.00
MAZDOCK	9,746	19,621	0.50	-204	-177	1.15
MCX	15,050	23,412	0.64	72	814	0.09
MFSL	2,454	4,201	0.58	4	-164	-0.02
MOTHERSON	6,427	9,941	0.65	491	534	0.92
MPHASIS	3,667	4,605	0.80	56	-42	-1.33
MUTHOOTFIN	4,842	9,946	0.49	212	249	0.85
NATIONALUM	6,027	8,212	0.73	49	241	0.20
NAUKRI	5,737	8,499	0.68	175	471	0.37
NBCC	3,205	6,675	0.48	67	151	0.44
NCC	3,570	7,086	0.50	96	-21	-4.57
NESTLEIND	4,453	15,249	0.29	-57	-111	0.51
NHPC	3,181	6,796	0.47	12	-582	-0.02
NMDC	9,932	12,715	0.78	-179	-548	0.33
NTPC	14,180	22,686	0.63	22	-343	-0.06
NUVAMA	2,224	4,241	0.52	64	44	1.45
NYKAA	2,718	6,578	0.41	48	184	0.26
OBEROIRLTY	3,923	5,637	0.70	-54	-391	0.14
OFSS	10,113	8,348	1.21	4,334	-393	-11.03
OIL	2,521	4,083	0.62	14	-194	-0.07
ONGC	8,402	19,837	0.42	-4	613	-0.01
PAGEIND	3,352	6,769	0.50	-111	-165	0.67
PATANJALI	3,650	7,987	0.46	197	212	0.93
PAYTM	7,847	12,156	0.65	-273	-465	0.59
PERSISTENT	6,204	9,809	0.63	663	178	3.72
PETRONET	8,488	7,996	1.06	-8	-68	0.12
PFC	20,176	32,374	0.62	267	1,156	0.23
PGEL	8,341	12,830	0.65	-97	-28	3.46
PHOENIXLTD	1,445	2,791	0.52	6	-16	-0.38
PIDILITIND	1,937	2,564	0.76	-13	-24	0.54
PIIND	2,558	3,741	0.68	-62	-122	0.51
PNB	11,513	21,936	0.52	-128	343	-0.37
PNBHOUSING	4,039	5,126	0.79	29	-27	-1.07
POLICYBZR	4,666	5,674	0.82	0	-97	0.00
POLYCAB	4,207	5,875	0.72	216	-113	-1.91
POWERGRID	10,660	15,796	0.67	230	479	0.48
POWERINDIA	4,391	11,885	0.37	-152	280	-0.54
PPLPHARMA	2,523	6,098	0.41	-7	66	-0.11
PRESTIGE	2,951	3,607	0.82	120	-76	-1.58
RBLBANK	4,528	6,940	0.65	316	153	2.07
RECLTD	21,124	31,137	0.68	-63	260	-0.24
RELIANCE	51,114	96,340	0.53	610	2,684	0.23
RVNL	6,527	12,241	0.53	-53	-154	0.34
SAIL	5,757	9,953	0.58	87	38	2.29
SAMMAANCAP	5,936	9,000	0.66	-3	-11	0.27
SBICARD	4,583	7,020	0.65	-21	-260	0.08
SBILIFE	5,298	10,153	0.52	465	1,421	0.33
SBIN	39,360	65,243	0.60	-1,370	-1,045	1.31
SHREECEM	1,506	2,843	0.53	241	-107	-2.25
SHRIRAMFIN	12,120	17,758	0.68	-144	-256	0.56
SIEMENS	5,886	12,581	0.47	433	491	0.88
SOLARINDS	3,521	8,074	0.44	-31	211	-0.15
SONACOMS	2,646	5,504	0.48	286	-192	-1.49
SRF	6,652	10,038	0.66	702	-181	-3.88
SUNPHARMA	6,588	15,215	0.43	-202	-1,186	0.17
SUPREMEIND	3,673	6,998	0.52	378	705	0.54
SUZLON	9,764	22,984	0.42	104	-22	-4.73
SYNGENE	1,641	2,612	0.63	1	60	0.02
TATACONSUM	4,549	8,762	0.52	-37	86	-0.43
TATAELXSI	5,382	14,645	0.37	141	-657	-0.21
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,690	25,756	0.76	-213	-60	3.55
TATASTEEL	15,718	31,585	0.50	270	-2,000	-0.14
TATATECH	4,694	7,446	0.63	29	-247	-0.12
TCS	37,825	48,972	0.77	1,528	2,071	0.74
TECHM	7,166	9,212	0.78	-266	-237	1.12
TIINDIA	4,652	7,454	0.62	105	-85	-1.24
TITAGARH	2,518	5,498	0.46	-10	-113	0.09
TITAN	12,121	20,556	0.59	586	435	1.35
TMPV	39,723	85,974	0.46	327	-2,630	-0.12
TORNTPHARM	1,187	2,333	0.51	-20	118	-0.17
TORNTPOWER	2,093	2,839	0.74	217	-130	-1.67
TRENT	26,771	48,661	0.55	1,468	3,561	0.41
TVSMOTOR	9,333	9,716	0.96	-47	-231	0.20
ULTRACEMCO	10,584	18,780	0.56	220	-42	-5.24
UNIONBANK	5,667	9,282	0.61	48	-5	-9.60
UNITDSPR	6,379	8,428	0.76	39	46	0.85
UNOMINDA	2,734	4,940	0.55	-101	-63	1.60
UPL	4,073	5,521	0.74	103	-161	-0.64
VBL	9,001	22,111	0.41	-6	0	0.00
VEDL	22,069	32,739	0.67	1,068	-502	-2.13
VOLTAS	6,771	7,755	0.87	-161	-197	0.82
WIPRO	11,042	13,800	0.80	92	-298	-0.31
YESBANK	6,269	12,237	0.51	68	-1	-68.00
ZYDUSLIFE	3,279	4,378	0.75	-1	134	-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.

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