Nifty PCR (Put-Call Ratio) Today
Open-interest and volume put-call ratios for the Nifty indices and every F&O stock, with their history since July 2024 and an honest check of what PCR has signalled.
Nifty's put-call ratio was 0.87 intraday on the strikes near the money; Bank Nifty's was 0.955.
The put-call ratio for Nifty, Bank Nifty, Fin Nifty, Midcap Nifty and every F&O stock, from NSE's option data: today's open-interest PCR for the current expiry and across all expiries, volume PCR, where it sits against the past year, and a test of whether extreme PCR readings have said anything about the next week.
Download this data as CSV · free to reuse with a link to Strota (how to cite)
The put-call ratio (PCR) divides the open interest in put options by the open interest in calls. For Nifty it is the most quoted single number from the option chain: above 1, more puts are open than calls; below 1, more calls.
Most traders read PCR as a sentiment gauge, and often contrarian: a very high PCR (heavy put writing or put buying) is read as support building under the market, a very low one as complacency. This page shows the numbers from NSE's own data and tests how much those readings have actually meant.
Which PCR is this?
PCR (OI), current expiry is put open interest divided by call open interest across every strike of the nearest expiry; this is the figure NSE's option chain shows. All expiries adds every listed expiry and moves more slowly. Volume PCR uses the day's traded contracts instead of open positions and swings much more.
Values come from NSE's end-of-day F&O file after each session. During market hours the Nifty figure from the live chain covers the strikes near the money, so it can differ from the full-chain close.
Reading PCR, and what the record shows
A high PCR is usually put writing: sellers collecting premium below the market because they expect it to hold up. A low PCR means calls dominate, often call writing above the market. Because the same number can come from buyers or sellers, PCR is a description of positioning, not a forecast.
The test above sorts every session since July 2024 by its all-expiry PCR and compares the Nifty's next five sessions after the highest fifth, the lowest fifth and the rest with the overall average. Check it before treating any PCR level as a signal.
Key takeaways
- PCR = put open interest / call open interest.
- Current-expiry PCR matches NSE's option chain; all-expiry PCR is steadier.
- High PCR usually reflects put writing; it describes positioning, not direction.
- Every F&O stock's PCR is listed and downloads as CSV.
- The record since July 2024 shows how little extremes have predicted.
Frequently asked questions
What is Nifty PCR today?
The table at the top gives Nifty's put-call ratio by open interest for the current expiry and across all expiries, from the latest NSE close, with the intraday figure from the live chain during market hours.
What is a good PCR ratio?
There is no good or bad level. Nifty's PCR has mostly moved between about 0.7 and 1.4; readings near the top of the past year's range mean put open interest is unusually heavy relative to calls, and near the bottom the opposite.
Is a high PCR bullish or bearish?
Traders often read a high PCR as bullish because it usually comes from put writers who expect the market to hold. The record on this page shows the Nifty's next-week returns after high and low readings were close to its average, so treat it as context.
How is PCR calculated?
Total put open interest divided by total call open interest, across all strikes of an expiry. Volume PCR divides the day's put volume by call volume.
Where can I see the PCR of a stock?
The stock table on this page lists the open-interest PCR of every F&O stock for its current expiry, and the CSV has all of them with max pain.