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.

POLICYBZR

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.

Pb Fintech Limited

1818.9 -107.50 (-5.58%)

L: 1811 H: 1926.4

Put-Call Ratio - POLICYBZR

16 Dec 2025 12:24 PM IST

Live

Expiry

Put OI

6,208

Call OI

8,696

PCR

0.71

Put OI Chg

1,198

Call OI Chg

2,127

COI PCR

0.56

COI Strength

-0.28

Interval

On 9:30 POLICYBZR was trading at 1905.9 with pcr value 0.75

On 9:45 POLICYBZR was trading at 1897.2 with pcr value 0.74

On 10:00 POLICYBZR was trading at 1879.2 with pcr value 0.72

On 10:15 POLICYBZR was trading at 1863.1 with pcr value 0.69

On 10:30 POLICYBZR was trading at 1828.1 with pcr value 0.78

On 10:45 POLICYBZR was trading at 1836.9 with pcr value 0.77

On 11:00 POLICYBZR was trading at 1837.4 with pcr value 0.75

On 11:15 POLICYBZR was trading at 1833.1 with pcr value 0.74

On 11:30 POLICYBZR was trading at 1843.5 with pcr value 0.75

On 11:45 POLICYBZR was trading at 1820.7 with pcr value 0.71

On 12:00 POLICYBZR was trading at 1828.5 with pcr value 0.7

On 12:15 POLICYBZR was trading at 1824.5 with pcr value 0.71

On 12:25 POLICYBZR was trading at 1813.2 with pcr value 0.71

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	2,056	3,271	0.63	-19	-9	2.11
ABB	5,408	6,680	0.81	-83	-15	5.53
ABCAPITAL	4,852	7,652	0.63	-64	-105	0.61
ADANIENSOL	3,486	5,542	0.63	-181	205	-0.88
ADANIENT	26,582	44,275	0.60	-612	859	-0.71
ADANIGREEN	11,056	19,652	0.56	8	643	0.01
ADANIPORTS	9,247	17,944	0.52	48	320	0.15
ALKEM	1,238	1,728	0.72	72	10	7.20
AMBER	7,094	10,555	0.67	-31	23	-1.35
AMBUJACEM	8,741	10,703	0.82	-445	204	-2.18
ANGELONE	7,662	17,630	0.43	-66	137	-0.48
APLAPOLLO	2,428	2,854	0.85	-66	17	-3.88
APOLLOHOSP	7,836	15,899	0.49	279	847	0.33
ASHOKLEY	12,298	13,450	0.91	524	993	0.53
ASIANPAINT	17,381	33,650	0.52	32	-1,001	-0.03
ASTRAL	4,671	8,046	0.58	565	306	1.85
AUBANK	6,422	7,562	0.85	-212	-42	5.05
AUROPHARMA	4,462	10,251	0.44	-184	122	-1.51
AXISBANK	19,795	48,011	0.41	5,438	18,739	0.29
BAJAJ-AUTO	14,844	28,646	0.52	465	957	0.49
BAJAJFINSV	13,459	19,638	0.69	100	518	0.19
BAJFINANCE	22,712	39,445	0.58	182	1,344	0.14
BANDHANBNK	7,666	11,442	0.67	-2	-6	0.33
BANKBARODA	12,277	17,064	0.72	160	950	0.17
BANKINDIA	3,349	4,676	0.72	25	53	0.47
BDL	8,926	20,177	0.44	1,388	2,218	0.63
BEL	27,171	61,742	0.44	600	2,033	0.30
BHARATFORG	4,214	6,982	0.60	44	166	0.27
BHARTIARTL	19,899	41,216	0.48	1,034	625	1.65
BHEL	9,078	18,053	0.50	-78	529	-0.15
BIOCON	6,452	12,813	0.50	56	289	0.19
BLUESTARCO	1,324	1,763	0.75	-59	49	-1.20
BOSCHLTD	1,602	3,227	0.50	59	220	0.27
BPCL	5,664	9,155	0.62	34	1,097	0.03
BRITANNIA	6,852	9,405	0.73	1,035	1,769	0.59
BSE	18,269	37,950	0.48	182	4,208	0.04
CAMS	4,348	7,520	0.58	-40	102	-0.39
CANBK	12,169	16,088	0.76	133	460	0.29
CDSL	9,585	21,842	0.44	-36	227	-0.16
CGPOWER	4,717	8,955	0.53	-49	79	-0.62
CHOLAFIN	3,641	5,709	0.64	16	410	0.04
CIPLA	10,084	15,168	0.66	56	410	0.14
COALINDIA	12,553	13,449	0.93	-53	427	-0.12
COFORGE	8,806	21,010	0.42	124	-345	-0.36
COLPAL	6,468	10,588	0.61	42	1,156	0.04
CONCOR	7,732	9,987	0.77	30	145	0.21
CROMPTON	6,412	11,771	0.54	12	57	0.21
CUMMINSIND	3,587	4,508	0.80	63	122	0.52
CYIENT	1,990	2,932	0.68	-1	10	-0.10
DABUR	5,726	11,140	0.51	506	793	0.64
DALBHARAT	2,886	3,845	0.75	-223	-444	0.50
DELHIVERY	3,849	6,157	0.63	15	388	0.04
DIVISLAB	6,521	9,127	0.71	-21	41	-0.51
DIXON	36,569	62,891	0.58	-723	3,553	-0.20
DLF	16,576	26,098	0.64	-87	413	-0.21
DMART	7,809	15,280	0.51	690	2,416	0.29
DRREDDY	5,469	10,823	0.51	-122	-16	7.63
EICHERMOT	11,449	16,125	0.71	329	171	1.92
ETERNAL	18,753	35,667	0.53	1,144	7,320	0.16
EXIDEIND	4,008	5,735	0.70	-1	186	-0.01
FEDERALBNK	8,277	8,090	1.02	-500	231	-2.16
FORTIS	3,662	9,203	0.40	58	-234	-0.25
GAIL	13,403	20,762	0.65	-65	169	-0.38
GLENMARK	8,000	10,729	0.75	149	296	0.50
GMRAIRPORT	10,898	19,238	0.57	-67	802	-0.08
GODREJCP	4,420	6,256	0.71	1,327	2,271	0.58
GODREJPROP	6,724	11,374	0.59	86	411	0.21
GRASIM	9,558	8,438	1.13	3	-120	-0.03
HAL	27,898	56,320	0.50	127	3,498	0.04
HAVELLS	3,604	4,676	0.77	36	-28	-1.29
HCLTECH	11,361	20,158	0.56	-139	870	-0.16
HDFCAMC	4,633	6,232	0.74	312	537	0.58
HDFCBANK	42,676	65,231	0.65	1,337	1,508	0.89
HDFCLIFE	7,822	18,312	0.43	197	835	0.24
HEROMOTOCO	13,153	18,376	0.72	398	126	3.16
HFCL	4,928	12,196	0.40	23	-192	-0.12
HINDALCO	15,679	21,265	0.74	-1,265	-53	23.87
HINDPETRO	3,871	6,609	0.59	-160	210	-0.76
HINDUNILVR	10,240	19,875	0.52	-457	-274	1.67
HINDZINC	24,680	35,518	0.69	-1,038	551	-1.88
HUDCO	6,307	14,303	0.44	42	173	0.24
ICICIBANK	31,917	50,612	0.63	756	716	1.06
ICICIGI	3,132	5,543	0.57	-31	6	-5.17
ICICIPRULI	2,453	4,815	0.51	41	230	0.18
IDEA	15,398	26,524	0.58	294	-366	-0.80
IDFCFIRSTB	9,968	12,543	0.79	-16	-66	0.24
IEX	8,399	11,668	0.72	-45	-240	0.19
IIFL	2,632	4,637	0.57	6	440	0.01
INDHOTEL	5,807	8,989	0.65	92	537	0.17
INDIANB	4,865	12,149	0.40	99	779	0.13
INDIGO	52,747	1,10,426	0.48	-81	-2,350	0.03
INDUSINDBK	12,488	18,443	0.68	111	721	0.15
INDUSTOWER	8,845	15,755	0.56	-73	-61	1.20
INFY	38,606	61,668	0.63	-1,935	598	-3.24
INOXWIND	7,148	13,990	0.51	-85	130	-0.65
IOC	7,415	12,749	0.58	664	1,557	0.43
IRCTC	7,324	11,161	0.66	91	96	0.95
IREDA	4,966	10,155	0.49	52	-157	-0.33
IRFC	4,460	9,416	0.47	-11	260	-0.04
ITC	23,538	34,217	0.69	-1,379	-16	86.19
JINDALSTEL	5,573	8,796	0.63	132	767	0.17
JIOFIN	17,970	25,617	0.70	-180	972	-0.19
JSWENERGY	10,529	15,732	0.67	-505	335	-1.51
JSWSTEEL	14,125	28,200	0.50	-195	1,061	-0.18
JUBLFOOD	6,461	9,067	0.71	477	998	0.48
KALYANKJIL	4,782	8,919	0.54	43	198	0.22
KAYNES	31,202	78,003	0.40	285	756	0.38
KEI	2,160	3,509	0.62	-79	19	-4.16
KFINTECH	4,229	6,774	0.62	166	19	8.74
KOTAKBANK	18,857	21,175	0.89	413	391	1.06
KPITTECH	3,476	6,258	0.56	117	702	0.17
LAURUSLABS	5,222	10,085	0.52	-3	544	-0.01
LICHSGFIN	7,557	10,122	0.75	-42	189	-0.22
LICI	6,525	12,286	0.53	37	526	0.07
LODHA	4,399	10,337	0.43	-211	362	-0.58
LT	18,613	32,611	0.57	-654	227	-2.88
LTF	5,011	7,995	0.63	-15	-86	0.17
LTIM	4,441	5,672	0.78	-26	21	-1.24
LUPIN	5,127	6,835	0.75	14	274	0.05
M&M	17,754	33,003	0.54	329	-676	-0.49
MANAPPURAM	3,792	5,337	0.71	-71	-109	0.65
MANKIND	2,377	4,784	0.50	20	304	0.07
MARICO	3,173	5,016	0.63	454	800	0.57
MARUTI	31,099	31,164	1.00	-548	-446	1.23
MAXHEALTH	5,095	10,121	0.50	18	270	0.07
MAZDOCK	10,194	22,239	0.46	222	920	0.24
MCX	15,269	23,183	0.66	618	1,060	0.58
MFSL	2,493	4,396	0.57	111	308	0.36
MOTHERSON	7,580	9,272	0.82	-15	-106	0.14
MPHASIS	3,525	4,877	0.72	-209	84	-2.49
MUTHOOTFIN	6,379	12,004	0.53	36	12	3.00
NATIONALUM	6,712	7,898	0.85	-214	-84	2.55
NAUKRI	5,957	7,362	0.81	66	240	0.28
NBCC	3,308	6,849	0.48	-147	199	-0.74
NCC	3,853	8,819	0.44	72	127	0.57
NESTLEIND	4,411	13,844	0.32	269	42	6.40
NHPC	3,218	7,063	0.46	20	278	0.07
NMDC	10,039	12,781	0.79	-376	-53	7.08
NTPC	13,922	22,658	0.61	-693	598	-1.16
NUVAMA	2,218	4,132	0.54	120	82	1.46
NYKAA	2,596	6,921	0.38	39	386	0.10
OBEROIRLTY	3,527	5,668	0.62	-57	-31	1.84
OFSS	7,048	9,545	0.74	-767	542	-1.42
OIL	2,441	4,449	0.55	13	118	0.11
ONGC	11,019	26,037	0.42	-533	165	-3.23
PAGEIND	3,479	7,636	0.46	10	170	0.06
PATANJALI	3,908	8,637	0.45	53	11	4.82
PAYTM	7,553	12,451	0.61	-103	607	-0.17
PERSISTENT	6,443	10,664	0.60	-171	230	-0.74
PETRONET	8,622	8,433	1.02	-8	66	-0.12
PFC	20,824	36,591	0.57	233	2,639	0.09
PGEL	7,833	12,444	0.63	-190	515	-0.37
PHOENIXLTD	1,678	3,388	0.50	-132	30	-4.40
PIDILITIND	2,019	2,642	0.76	29	11	2.64
PIIND	3,625	5,914	0.61	-14	-41	0.34
PNB	11,498	22,342	0.51	92	708	0.13
PNBHOUSING	7,290	11,698	0.62	-104	-290	0.36
POLICYBZR	6,208	8,696	0.71	1,198	2,127	0.56
POLYCAB	4,080	6,064	0.67	5	369	0.01
POWERGRID	10,873	17,462	0.62	5	229	0.02
POWERINDIA	4,159	10,773	0.39	-43	54	-0.80
PPLPHARMA	2,826	7,275	0.39	64	358	0.18
PRESTIGE	2,696	4,099	0.66	1	232	0.00
RBLBANK	4,825	7,767	0.62	157	395	0.40
RECLTD	21,895	34,144	0.64	208	989	0.21
RELIANCE	49,137	98,334	0.50	-1,019	3,114	-0.33
RVNL	6,292	12,221	0.51	-57	403	-0.14
SAIL	5,920	10,740	0.55	91	646	0.14
SAMMAANCAP	6,528	12,139	0.54	292	375	0.78
SBICARD	4,732	7,431	0.64	189	701	0.27
SBILIFE	6,707	11,843	0.57	572	153	3.74
SBIN	40,047	66,807	0.60	-229	2,092	-0.11
SHREECEM	2,227	4,511	0.49	291	1,066	0.27
SHRIRAMFIN	12,631	21,147	0.60	104	70	1.49
SIEMENS	9,243	18,069	0.51	-391	280	-1.40
SOLARINDS	3,840	10,225	0.38	-4	567	-0.01
SONACOMS	2,566	5,766	0.45	-28	169	-0.17
SRF	7,140	9,810	0.73	383	972	0.39
SUNPHARMA	6,390	19,387	0.33	-565	-498	1.13
SUPREMEIND	5,304	8,846	0.60	1,498	1,139	1.32
SUZLON	10,548	23,869	0.44	216	420	0.51
SYNGENE	1,513	2,761	0.55	-53	-44	1.20
TATACONSUM	5,202	10,689	0.49	339	982	0.35
TATAELXSI	5,571	14,772	0.38	-28	329	-0.09
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,452	26,743	0.73	-46	611	-0.08
TATASTEEL	15,510	26,512	0.59	-860	504	-1.71
TATATECH	4,657	7,496	0.62	53	71	0.75
TCS	37,454	49,507	0.76	-970	1,437	-0.68
TECHM	7,438	9,595	0.78	32	18	1.78
TIINDIA	4,695	7,884	0.60	-38	366	-0.10
TITAGARH	2,613	5,145	0.51	45	133	0.34
TITAN	12,978	21,087	0.62	941	452	2.08
TMPV	40,626	87,837	0.46	532	400	1.33
TORNTPHARM	1,152	2,627	0.44	25	167	0.15
TORNTPOWER	2,015	2,980	0.68	-60	190	-0.32
TRENT	26,692	50,512	0.53	171	1,436	0.12
TVSMOTOR	9,583	9,640	0.99	195	115	1.70
ULTRACEMCO	11,226	17,975	0.62	-283	765	-0.37
UNIONBANK	5,649	8,307	0.68	-30	61	-0.49
UNITDSPR	6,509	8,517	0.76	-21	-58	0.36
UNOMINDA	2,816	5,352	0.53	144	364	0.40
UPL	4,717	6,723	0.70	-114	88	-1.30
VBL	10,075	23,224	0.43	304	458	0.66
VEDL	29,971	36,438	0.82	1,622	2,708	0.60
VOLTAS	6,414	7,763	0.83	-105	224	-0.47
WIPRO	10,822	13,732	0.79	-162	-185	0.88
YESBANK	6,428	13,394	0.48	12	368	0.03
ZYDUSLIFE	3,344	4,816	0.69	51	359	0.14

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 POLICYBZR

POLICYBZR

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

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BDL

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BPCL

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BSE

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CANBK

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