Buying from the open, closes near the highs
Bank Nifty opened with a 450-pt gap down at 55,046. Bank Nifty climbed 854 pts from 55,046 at 09:15 to 55,900 by 15:40 IST. Put writers added the most fresh OI at 55,500 (+2.1 L). Call writers built positions at 54,300–55,600, led by 54,300 (+0.7 L). Max pain moved from 55,500 to 55,600, following price up. PCR rose from 0.90 to 1.07.
Key levels into expiry
Where writers added today
Move vs what options priced
Last 6 sessions
Max pain: strike where option buyers lose most at expiry. Fresh OI: positions opened this session. PCR: put OI ÷ call OI.
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.