Daily digest / Bank Nifty / 2026-09-22 · this week
Bank Nifty · Tuesday 22 Sep 2026 · close
56,540
-82.2 (-0.15%)
Expiry Tue 29 Sep · 5 sessions
Early sell-off, buyers step in
A steady start gave way at 09:30 IST and Bank Nifty slid 463 pts to 56,293. Put writers added the most fresh OI at 55,500 (+1.7 L). Call writers built positions at 56,400–57,500, led by 56,500 (+3.6 L). Max pain held at 57,000 all session. PCR fell from 0.97 to 0.92.
Spot
Max pain
PCR
15-min · IST
Key levels into expiry
58,000
Call wall · 16.1 L OI
resistance
57,500
Fresh calls +1.2 L
cap
57,000
Max pain
magnet
56,540
Close
●
55,500
Fresh puts +1.7 L
support
55,000
Put wall · 9.2 L OI
floor
54,500
Fresh puts +1.4 L
support
Where writers added today
■ calls ■ puts · OI change from the first snapshot to the close, strikes near spot
Move vs what options priced
Monthly ATM straddle at open777
Session range479
The session used 62% of the monthly straddle's priced move.
Last 6 sessions
Reading these numbers
- Max pain is the strike where option buyers collectively lose the most at expiry. It often drifts with price, and the pull tends to strengthen into expiry.
- Fresh OI shows where option writers opened new positions during the session. Heavy put writing below price often marks a level sellers expect to hold; heavy call writing above marks a ceiling.
- PCR is put OI ÷ call OI for the monthly expiry.
- Straddle vs range compares the ATM straddle price at the open (what options priced in) with the distance price actually covered.
Descriptive summaries of recorded option-chain positioning, generated automatically — not trading signals or advice.
Read the disclaimer →
Related reading
PCR explained →
How put-call ratio is calculated and when it misleads.
Max pain theory →
Why max pain matters near expiry.
OI buildup →
Reading the four OI patterns.