NIFTY 50 · 2026-07-04
Option chain snapshot summary for the 2026-07-04 trading session — 612 data points captured between 09:15 and 15:30 IST.
Avg PCR
1.139
Put-heavy — mild bullish bias
Max Pain Strike
24,250
Strike where max OI expires worthless
Spot Range
24,270.8
–
24,270.8
–
24,270.8
Range 0.0 pts
(0.00%)
Max-Pain PCR
0.915
PCR at the max-pain strike level
Data Points
612
Chain snapshots captured this session
Reading these numbers
- PCR 1.139 — A PCR above 1 means more put OI than call OI exists across the chain. Historically, elevated PCR correlates with market support (put writers are short puts and want the market to stay up).
- Max Pain at 24,250 — 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 24,270.8 – 24,270.8 — The index spent the session above max pain (24,250) — 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 NIFTY 50. Login to the terminal →