Finnifty · 2026-04-20
Option chain snapshot summary for the 2026-04-20 trading session — 5 data points captured between 09:15 and 15:30 IST.
Avg PCR
0.729
Call-heavy — mild bearish bias
Max Pain Strike
26,500
Strike where max OI expires worthless
Spot Range
26,500.3
–
26,618.2
–
26,618.2
Range 117.9 pts
(0.44%)
Signal Bias
LONG
PCR crossover engine dominant signal
Max-Pain PCR
1.353
PCR at the max-pain strike level
Data Points
5
Chain snapshots captured this session
Reading these numbers
- PCR 0.729 — 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 26,500 — 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 26,500.3 – 26,618.2 — The index spent the session above max pain (26,500) — 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 Finnifty. Login to the terminal →