Afternoon sell-off, buyers step in
SENSEX opened with a 224-pt gap down at 73,453. SENSEX slid 521 pts from 73,811 at 12:45 to 73,290 by 14:15 IST. Put writers added the most fresh OI at 71,500 (+6.4 L). Call writers built positions at 75,000–76,000, led by 75,000 (+8.9 L). Max pain moved from 73,700 to 73,600, following price down. PCR fell from 1.51 to 1.15.
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.