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Option chain

An option chain is a table that lists the call and put options of a share or an index, strike price by strike price. Traders use it to see where open positions are concentrated.

Open the official NSE option chain

How to read an option chain

Calls sit on the left and puts on the right, with the strike prices in the middle. For each strike you will usually see open interest, the change in open interest, volume, implied volatility and the last traded price.

Terms to know

Open interest (OI) is the number of contracts that are still open. Change in OI shows whether positions were added or closed during the day. Implied volatility (IV) shows how big a move the market expects. Put-call ratio (PCR) is total put open interest divided by total call open interest. Traders read it in different ways, and it does not predict the market on its own.

Risk

Options are high-risk products. SEBI studies have found that most individual traders in equity derivatives lose money. This page is for education and is not advice.