Bank Nifty · 2026-04-16
Option chain snapshot summary for the 2026-04-16 trading session — 11 data points captured between 09:15 and 15:30 IST.
Avg PCR
0.919
Balanced — neutral zone
Max Pain Strike
56,400
Strike where max OI expires worthless
Spot Range
56,478.4
–
56,598.3
–
56,598.3
Range 119.9 pts
(0.21%)
Signal Bias
LONG
PCR crossover engine dominant signal
Max-Pain PCR
1.073
PCR at the max-pain strike level
Data Points
11
Chain snapshots captured this session
Reading these numbers
- PCR 0.919 — A PCR below 1 means more call OI than put OI. Call writers dominate, which can act as a resistance cap on rallies near heavily-written call strikes.
- Max Pain at 56,400 — The theoretical price at which the index would cause the most option contracts to expire worthless, minimising the total payout from option writers. Often acts as an intraday or expiry-week magnet, especially in low-volatility sessions.
- Spot ranged 56,478.4 – 56,598.3 — The index spent the session above max pain (56,400) — above-pain positioning can attract selling pressure near expiry.
These are aggregate summaries of market positioning data, not trading signals. PCR and
max pain are widely-watched indicators but are not predictive on their own.
Read full disclaimer →
Related reading
PCR Explained →
How put-call ratio is calculated, what thresholds signal, and when it misleads.
Max Pain Theory →
Why max pain matters near expiry and how option writers influence price.
OI Buildup →
Long buildup, short covering, short buildup — reading the four OI patterns.
See live option chain data and real-time PCR for Bank Nifty. Login to the terminal →