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.

SENSEX

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.

Sensex

84677.26 -536.10 (-0.63%)

L: 84675.98 H: 85059.96

Put-Call Ratio - SENSEX

16 Dec 2025 02:21 PM IST

Live

Expiry

Put OI

7,32,661

Call OI

10,62,030

PCR

0.69

Put OI Chg

1,14,493

Call OI Chg

4,81,464

COI PCR

0.24

COI Strength

-0.62

Interval

On 9:30 SENSEX was trading at 84854.86 with pcr value 0.85

On 9:45 SENSEX was trading at 84842.97 with pcr value 0.78

On 10:00 SENSEX was trading at 84792.69 with pcr value 0.79

On 10:15 SENSEX was trading at 84751.41 with pcr value 0.67

On 10:30 SENSEX was trading at 84820.23 with pcr value 0.71

On 10:45 SENSEX was trading at 84791.76 with pcr value 0.71

On 11:00 SENSEX was trading at 84771.89 with pcr value 0.7

On 11:15 SENSEX was trading at 84756.73 with pcr value 0.71

On 11:30 SENSEX was trading at 84802.4 with pcr value 0.7

On 11:45 SENSEX was trading at 84707.27 with pcr value 0.67

On 12:00 SENSEX was trading at 84714.92 with pcr value 0.66

On 12:15 SENSEX was trading at 84751.88 with pcr value 0.67

On 12:30 SENSEX was trading at 84817.19 with pcr value 0.69

On 12:45 SENSEX was trading at 84777.1 with pcr value 0.7

On 13:00 SENSEX was trading at 84801.94 with pcr value 0.69

On 13:15 SENSEX was trading at 84765.36 with pcr value 0.69

On 13:30 SENSEX was trading at 84743.28 with pcr value 0.7

On 13:45 SENSEX was trading at 84815.57 with pcr value 0.74

On 14:00 SENSEX was trading at 84810.91 with pcr value 0.77

On 14:15 SENSEX was trading at 84752.07 with pcr value 0.74

On 14:22 SENSEX was trading at 84681.29 with pcr value 0.69

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	2,044	3,257	0.63	-31	-23	1.35
ABB	5,400	6,532	0.83	-91	-163	0.56
ABCAPITAL	4,861	7,709	0.63	-55	-48	1.15
ADANIENSOL	3,484	5,631	0.62	-183	294	-0.62
ADANIENT	26,582	44,298	0.60	-612	882	-0.69
ADANIGREEN	10,593	19,675	0.54	-455	666	-0.68
ADANIPORTS	9,203	17,978	0.51	4	354	0.01
ALKEM	1,237	1,707	0.72	71	-11	-6.45
AMBER	7,185	10,540	0.68	60	8	7.50
AMBUJACEM	8,621	10,474	0.82	-565	-25	22.60
ANGELONE	7,636	17,931	0.43	-92	438	-0.21
APLAPOLLO	2,440	2,837	0.86	-54	0	0.00
APOLLOHOSP	7,880	16,261	0.48	323	1,209	0.27
ASHOKLEY	12,493	13,255	0.94	719	798	0.90
ASIANPAINT	17,337	34,164	0.51	-12	-487	0.02
ASTRAL	4,504	8,015	0.56	398	275	1.45
AUBANK	6,424	7,567	0.85	-210	-37	5.68
AUROPHARMA	4,480	10,333	0.43	-166	204	-0.81
AXISBANK	21,526	53,693	0.40	7,169	24,421	0.29
BAJAJ-AUTO	14,925	27,997	0.53	546	308	1.77
BAJAJFINSV	13,549	20,258	0.67	190	1,138	0.17
BAJFINANCE	23,151	40,489	0.57	621	2,388	0.26
BANDHANBNK	7,659	11,417	0.67	-9	-31	0.29
BANKBARODA	12,300	16,949	0.73	183	835	0.22
BANKINDIA	3,344	4,717	0.71	20	94	0.21
BDL	8,714	20,792	0.42	1,176	2,833	0.42
BEL	27,403	62,041	0.44	832	2,332	0.36
BHARATFORG	4,346	6,919	0.63	176	103	1.71
BHARTIARTL	20,009	41,136	0.49	1,144	545	2.10
BHEL	9,026	18,148	0.50	-130	624	-0.21
BIOCON	6,437	12,968	0.50	41	444	0.09
BLUESTARCO	1,356	1,810	0.75	-27	96	-0.28
BOSCHLTD	1,604	3,213	0.50	61	206	0.30
BPCL	5,497	9,058	0.61	-133	1,000	-0.13
BRITANNIA	6,565	9,587	0.68	748	1,951	0.38
BSE	18,518	38,449	0.48	431	4,707	0.09
CAMS	4,336	7,324	0.59	-52	-94	0.55
CANBK	12,128	16,144	0.75	92	516	0.18
CDSL	9,619	22,000	0.44	-2	385	-0.01
CGPOWER	4,680	9,020	0.52	-86	144	-0.60
CHOLAFIN	3,651	5,710	0.64	26	411	0.06
CIPLA	10,136	15,428	0.66	108	670	0.16
COALINDIA	12,566	13,019	0.97	-40	-3	13.33
COFORGE	8,762	20,657	0.42	80	-698	-0.11
COLPAL	6,519	10,709	0.61	93	1,277	0.07
CONCOR	7,718	10,125	0.76	16	283	0.06
CROMPTON	6,373	11,782	0.54	-27	68	-0.40
CUMMINSIND	3,565	4,553	0.78	41	167	0.25
CYIENT	1,980	2,918	0.68	-11	-4	2.75
DABUR	5,678	11,177	0.51	458	830	0.55
DALBHARAT	2,900	3,811	0.76	-209	-478	0.44
DELHIVERY	3,880	6,408	0.61	46	639	0.07
DIVISLAB	6,583	9,141	0.72	41	55	0.75
DIXON	36,372	62,813	0.58	-920	3,475	-0.26
DLF	16,627	26,149	0.64	-36	464	-0.08
DMART	7,389	15,674	0.47	270	2,810	0.10
DRREDDY	5,406	10,755	0.50	-185	-84	2.20
EICHERMOT	11,451	16,090	0.71	331	136	2.43
ETERNAL	18,936	35,163	0.54	1,327	6,816	0.19
EXIDEIND	4,017	5,714	0.70	8	165	0.05
FEDERALBNK	8,309	8,083	1.03	-468	224	-2.09
FORTIS	3,666	8,867	0.41	62	-570	-0.11
GAIL	13,438	20,817	0.65	-30	224	-0.13
GLENMARK	8,153	11,016	0.74	302	583	0.52
GMRAIRPORT	10,931	19,643	0.56	-34	1,207	-0.03
GODREJCP	4,123	6,762	0.61	1,030	2,777	0.37
GODREJPROP	7,035	11,700	0.60	397	737	0.54
GRASIM	9,625	8,613	1.12	70	55	1.27
HAL	27,735	57,155	0.49	-36	4,333	-0.01
HAVELLS	3,596	4,730	0.76	28	26	1.08
HCLTECH	11,386	20,415	0.56	-114	1,127	-0.10
HDFCAMC	4,628	6,184	0.75	307	489	0.63
HDFCBANK	43,570	63,745	0.68	2,231	22	101.41
HDFCLIFE	7,715	18,831	0.41	90	1,354	0.07
HEROMOTOCO	13,080	18,437	0.71	325	187	1.74
HFCL	4,959	11,973	0.41	54	-415	-0.13
HINDALCO	15,468	21,587	0.72	-1,476	269	-5.49
HINDPETRO	3,901	6,733	0.58	-130	334	-0.39
HINDUNILVR	10,065	19,911	0.51	-632	-238	2.66
HINDZINC	24,673	35,643	0.69	-1,045	676	-1.55
HUDCO	6,276	14,335	0.44	11	205	0.05
ICICIBANK	32,161	50,804	0.63	1,000	908	1.10
ICICIGI	3,070	5,473	0.56	-93	-64	1.45
ICICIPRULI	2,413	4,805	0.50	1	220	0.00
IDEA	15,294	26,744	0.57	190	-146	-1.30
IDFCFIRSTB	9,757	12,528	0.78	-227	-81	2.80
IEX	8,424	11,587	0.73	-20	-321	0.06
IIFL	2,624	4,577	0.57	-2	380	-0.01
INDHOTEL	5,799	9,101	0.64	84	649	0.13
INDIANB	4,838	12,166	0.40	72	796	0.09
INDIGO	52,549	1,09,665	0.48	-279	-3,111	0.09
INDUSINDBK	12,507	18,643	0.67	130	921	0.14
INDUSTOWER	8,876	15,856	0.56	-42	40	-1.05
INFY	38,399	61,871	0.62	-2,142	801	-2.67
INOXWIND	7,167	14,062	0.51	-66	202	-0.33
IOC	7,226	13,042	0.55	475	1,850	0.26
IRCTC	7,325	11,156	0.66	92	91	1.01
IREDA	4,937	10,179	0.49	23	-133	-0.17
IRFC	4,454	9,405	0.47	-17	249	-0.07
ITC	22,516	34,290	0.66	-2,401	57	-42.12
JINDALSTEL	5,541	8,795	0.63	100	766	0.13
JIOFIN	17,914	25,601	0.70	-236	956	-0.25
JSWENERGY	10,321	15,321	0.67	-713	-76	9.38
JSWSTEEL	13,142	28,207	0.47	-1,178	1,068	-1.10
JUBLFOOD	6,628	9,666	0.69	644	1,597	0.40
KALYANKJIL	4,777	8,829	0.54	38	108	0.35
KAYNES	30,965	77,090	0.40	48	-157	-0.31
KEI	2,168	3,509	0.62	-71	19	-3.74
KFINTECH	4,258	6,751	0.63	195	-4	-48.75
KOTAKBANK	18,830	21,611	0.87	386	827	0.47
KPITTECH	3,508	6,233	0.56	149	677	0.22
LAURUSLABS	5,283	10,124	0.52	58	583	0.10
LICHSGFIN	7,574	10,262	0.74	-25	329	-0.08
LICI	6,319	12,280	0.51	-169	520	-0.33
LODHA	4,399	10,507	0.42	-211	532	-0.40
LT	18,521	32,583	0.57	-746	199	-3.75
LTF	5,005	7,946	0.63	-21	-135	0.16
LTIM	4,409	5,670	0.78	-58	19	-3.05
LUPIN	5,126	6,853	0.75	13	292	0.04
M&M	17,615	32,965	0.53	190	-714	-0.27
MANAPPURAM	3,761	5,366	0.70	-102	-80	1.27
MANKIND	2,364	4,836	0.49	7	356	0.02
MARICO	3,084	5,208	0.59	365	992	0.37
MARUTI	30,753	30,997	0.99	-894	-613	1.46
MAXHEALTH	5,112	10,247	0.50	35	396	0.09
MAZDOCK	10,277	22,145	0.46	305	826	0.37
MCX	15,295	23,219	0.66	644	1,096	0.59
MFSL	2,516	4,456	0.56	134	368	0.36
MOTHERSON	7,557	9,272	0.82	-38	-106	0.36
MPHASIS	3,515	4,878	0.72	-219	85	-2.58
MUTHOOTFIN	6,391	11,929	0.54	48	-63	-0.76
NATIONALUM	6,700	7,880	0.85	-226	-102	2.22
NAUKRI	5,996	7,410	0.81	105	288	0.36
NBCC	3,222	7,062	0.46	-233	412	-0.57
NCC	3,816	8,939	0.43	35	247	0.14
NESTLEIND	4,350	13,969	0.31	208	167	1.25
NHPC	3,215	7,201	0.45	17	416	0.04
NMDC	9,949	13,060	0.76	-466	226	-2.06
NTPC	13,604	22,845	0.60	-1,011	785	-1.29
NUVAMA	2,178	4,098	0.53	80	48	1.67
NYKAA	2,603	7,009	0.37	46	474	0.10
OBEROIRLTY	3,530	5,775	0.61	-54	76	-0.71
OFSS	7,122	9,493	0.75	-693	490	-1.41
OIL	2,438	4,530	0.54	10	199	0.05
ONGC	10,852	26,396	0.41	-700	524	-1.34
PAGEIND	3,460	7,826	0.44	-9	360	-0.03
PATANJALI	3,934	8,853	0.44	79	227	0.35
PAYTM	7,667	12,685	0.60	11	841	0.01
PERSISTENT	6,424	10,635	0.60	-190	201	-0.95
PETRONET	8,659	8,560	1.01	29	193	0.15
PFC	21,061	37,348	0.56	470	3,396	0.14
PGEL	7,824	12,198	0.64	-199	269	-0.74
PHOENIXLTD	1,701	3,435	0.50	-109	77	-1.42
PIDILITIND	1,973	2,612	0.76	-17	-19	0.89
PIIND	3,641	6,022	0.60	2	67	0.03
PNB	11,726	22,559	0.52	320	925	0.35
PNBHOUSING	7,246	11,999	0.60	-148	11	-13.45
POLICYBZR	6,273	8,454	0.74	1,263	1,885	0.67
POLYCAB	4,081	6,261	0.65	6	566	0.01
POWERGRID	10,787	17,616	0.61	-81	383	-0.21
POWERINDIA	4,096	10,902	0.38	-106	183	-0.58
PPLPHARMA	2,880	7,332	0.39	118	415	0.28
PRESTIGE	2,771	4,197	0.66	76	330	0.23
RBLBANK	4,753	7,869	0.60	85	497	0.17
RECLTD	22,153	34,573	0.64	466	1,418	0.33
RELIANCE	49,561	97,521	0.51	-595	2,301	-0.26
RVNL	6,439	12,384	0.52	90	566	0.16
SAIL	5,927	10,885	0.54	98	791	0.12
SAMMAANCAP	6,572	12,270	0.54	336	506	0.66
SBICARD	4,757	7,392	0.64	214	662	0.32
SBILIFE	6,816	12,069	0.56	681	379	1.80
SBIN	40,208	67,344	0.60	-68	2,629	-0.03
SHREECEM	2,277	5,579	0.41	341	2,134	0.16
SHRIRAMFIN	12,606	21,151	0.60	79	74	1.07
SIEMENS	9,100	18,035	0.50	-534	246	-2.17
SOLARINDS	3,929	10,582	0.37	85	924	0.09
SONACOMS	2,555	5,563	0.46	-39	-34	1.15
SRF	7,261	9,734	0.75	504	896	0.56
SUNPHARMA	6,481	19,476	0.33	-474	-409	1.15
SUPREMEIND	5,345	8,381	0.64	1,539	674	2.28
SUZLON	10,588	23,782	0.45	256	333	0.77
SYNGENE	1,537	2,789	0.55	-29	-16	1.81
TATACONSUM	5,107	10,523	0.49	244	816	0.30
TATAELXSI	5,536	14,788	0.37	-63	345	-0.18
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,434	27,164	0.72	-64	1,032	-0.06
TATASTEEL	15,544	26,391	0.59	-826	383	-2.16
TATATECH	4,659	7,513	0.62	55	88	0.63
TCS	37,404	49,603	0.75	-1,020	1,533	-0.67
TECHM	7,449	9,612	0.77	43	35	1.23
TIINDIA	4,716	7,837	0.60	-17	319	-0.05
TITAGARH	2,620	5,134	0.51	52	122	0.43
TITAN	13,419	21,139	0.63	1,382	504	2.74
TMPV	40,705	88,424	0.46	611	987	0.62
TORNTPHARM	1,146	2,699	0.42	19	239	0.08
TORNTPOWER	2,306	3,413	0.68	231	623	0.37
TRENT	26,695	50,297	0.53	174	1,221	0.14
TVSMOTOR	9,568	9,694	0.99	180	169	1.07
ULTRACEMCO	11,212	18,286	0.61	-297	1,076	-0.28
UNIONBANK	5,623	8,258	0.68	-56	12	-4.67
UNITDSPR	6,546	8,622	0.76	16	47	0.34
UNOMINDA	2,931	5,060	0.58	259	72	3.60
UPL	4,683	6,837	0.68	-148	202	-0.73
VBL	10,074	23,471	0.43	303	705	0.43
VEDL	30,205	37,224	0.81	1,856	3,494	0.53
VOLTAS	6,487	7,384	0.88	-32	-155	0.21
WIPRO	10,799	13,767	0.78	-185	-150	1.23
YESBANK	6,424	13,388	0.48	8	362	0.02
ZYDUSLIFE	3,360	4,920	0.68	67	463	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.

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