Sensex Option Chain (BSE): Live Chart & Analysis

What is Sensex Option Chain?

The Sensex Option Chain is a comprehensive table displaying all available call and put option contracts for the BSE Sensex index across various strike prices. It includes key metrics such as Open Interest (OI), Change in OI, Last Traded Price (LTP), and option buildup (long, short, unwinding, etc.). Traders use this data to analyze market sentiment, identify support and resistance levels, and plan short-term trading strategies.

The BSE Sensex Option Chain is particularly useful for tracking institutional activity and building directional bias. By observing where the highest OI is concentrated and how it's changing, traders can anticipate potential price movement of the Sensex. It also helps during expiry weeks to identify the Max Pain level, which is the strike price where option sellers face the least loss.

On NiftyTrader, you can access the live Sensex Option Chain chart that updates in real time. The chart visually represents the OI buildup at each strike price, making it easier to interpret large data sets. 

Key Terms Used in BSE Sensex Option Chain

Strike Price

The strike price is the predetermined price at which an option can be exercised. In the Sensex option chain, all listed contracts are organized by strike prices, allowing traders to choose levels near the current index price for strategic buying or selling.

Open Interest (OI)

Sensex Open Interest indicates the total number of active contracts at a given strike price that are not yet settled. The Sensex open interest chart visualizes OI data, helping traders spot which levels are attracting the most attention and where support/resistance might form.

Change in Open Interest

This shows how OI has changed during the current trading session. A rise in OI with price movement indicates a strong trend, while a fall may suggest unwinding. It plays a critical role in identifying trending Sensex OI strikes.

Call Options (CE)

Call options give the buyer the right, but not the obligation, to buy the index at a specific strike price before expiry. They are used when the market is expected to go up. High call OI signals resistance areas in the Sensex option chain.

Put Options (PE)

Put options give the buyer the right to sell the index at a specific strike price before expiry. Puts are used in bearish scenarios. A high put OI mostly indicates a support zone in the Sensex option chain.

Option Buildup

Buildup is the kind of trading activity happening at a strike price:

• Long Buildup: OI ↑ and price ↑ (bullish)

• Short Buildup: OI ↑ and price ↓ (bearish)

• Short Covering: OI ↓ and price ↑ (recovery)

• Long Unwinding: OI ↓ and price ↓ (correction)

Sensex PCR Ratio

The Sensex PCR ratio is calculated by dividing total Put OI by Call OI. A high PCR (>1) implies a bullish sentiment, while a low PCR (<1) suggests bearish sentiment. It helps in gauging overall trader positioning and potential reversals.

Sensex Max Pain

Sensex Max Pain is the strike price where option sellers (writers) would incur the least loss. It often acts as a magnet during expiry. Traders use the Sensex Max Pain level to anticipate expiry settling ranges and manage risk.

Last Traded Price (LTP)

LTP represents the most recent price at which a contract was traded. It reflects the real-time market value of an option and helps traders decide whether to enter, hold, or exit a position.

Volume

Volume indicates the total number of contracts traded during the day. High volume at a specific strike shows active interest and liquidity, which is essential for entering or exiting trades efficiently.

IV (Implied Volatility)

Implied Volatility reflects the market’s expectation of future volatility in the Sensex. Higher IV means higher option premiums and uncertainty, while lower IV suggests stable conditions. It affects the pricing of both calls and puts.

BSE Sensex Contributors

BSE Sensex contributors are the top-performing stocks that move the index. Their performance has a direct impact on Sensex options. Traders often track these contributors to understand sectoral momentum and directional bias.

How to Check Sensex Option Chain?

Checking the live Sensex Option Chain on NiftyTrader is quick and effortless:

Select ‘Sensex’ from the Symbol Dropdown

On the BSE Option Chain page, select SENSEX as the underlying index. This will display all live option contracts related to the BSE Sensex option chain.

Choose the Expiry Date

Use the expiry selector to pick the relevant weekly or monthly expiry. This filters the contracts based on the selected date.

View the Option Chain Table

You’ll see the live Sensex Option Chain table showing:

• Call & Put strike prices

• Open Interest (OI)

• Change in OI

• LTP

• Buildup (Long, Short, Unwinding, etc.)

Use the Sensex Option Chain Chart

Scroll down to explore the BSE Sensex Option Chain chart for a visual representation of OI levels. This helps in quickly identifying strong support and resistance zones.

Use Filters and Auto Refresh

Enable auto-refresh for real-time updates or apply filters to focus on specific strike ranges or volume levels.

Sensex Option Chain Lot Size

When trading in the Sensex Option Chain, it's important to understand the lot size and available expiry options to manage your positions effectively.

For example, if the current lot size for Sensex options is 20 units, it means one options contract represents 20 units of the BSE Sensex index. This fixed quantity determines the total contract value and margin requirements. If the premium is ₹100, the total cost for one lot will be ₹100 × 20 = ₹2,000 (excluding brokerage and taxes).

Understanding the Sensex option chain lot size is crucial for calculating risk and reward in your trades.

Expiry Details in Sensex Option Chain

The BSE Sensex Option Chain includes both weekly and monthly expiries:

• Weekly expiry: Occurs every Thursday (or previous trading day in case of a holiday).

• Monthly expiry: Last Thursday of each month.

You can toggle between different expiry dates on the live dashboard at NiftyTrader to analyze OI, volume, and strike data for each period.

Must Browse Feature: Sensex Option Chain Live Chart

The Sensex Option Chain chart provides a visual representation of open interest (OI) and changes in OI across various strike prices. It helps traders quickly identify key support and resistance levels based on where the highest call and put positions are built up. You can access the Sensex option chain chart with real-time updates, offering bar or line graph formats for better interpretation. 

This chart simplifies data analysis by showing trends in a visual manner, making it easier to spot breakout or reversal zones. For precise decision-making, the chart is a must-use tool alongside the live Sensex option chain.

Types of Option Buildups in Sensex Option Chain

1. Long Buildup

• What It Means: Price ↑ and OI ↑

• Interpretation: Traders are entering fresh long positions, expecting the index to move upward.

• Usage: Indicates bullish sentiment. You’ll often see long buildup at lower strike puts or at calls near the money when a breakout is expected.

2. Short Buildup

• What It Means: Price ↓ and OI ↑

• Interpretation: Traders are building new short positions, expecting further downside.

• Usage: Seen as a bearish signal. Typically occurs at higher strike calls during market weakness.

3. Long Unwinding

• What It Means: Price ↓ and OI ↓

• Interpretation: Traders are exiting their earlier long positions, indicating loss of bullish strength.

• Usage: A neutral-to-bearish signal, especially when seen after a failed breakout.

4. Short Covering

• What It Means: Price ↑ and OI ↓

• Interpretation: Traders are closing their short positions, leading to a temporary price rise.

• Usage: Often seen when the market rebounds from support levels or after strong news flow.

Benefits of Tracking BSE Sensex Option Chain

Identify Support and Resistance Levels

By analyzing Open Interest (OI) data in the BSE Sensex Option Chain, traders can easily spot the strike prices with the highest Call and Put buildup. These levels act as short-term support and resistance zones, helping you make more informed entry and exit decisions.

Understand Market Sentiment

Sensex options reveal the market's mood. A surge in Put OI shows bullish sentiment, while a rise in Call OI indicates bearishness. Reading this data regularly helps in gauging whether traders are optimistic or cautious—crucial for both intraday and positional trading.

Anticipate Price Movements

Tracking changes in OI and price action helps identify option buildup patterns like long, short, unwinding, or short covering. These give early signals of upcoming price movements in the Sensex, enabling traders to act before the trend fully develops.

Analyze Expiry Trends

Using tools like Max Pain and PCR, traders can forecast where the Sensex might expire during the week or month. This helps option writers and buyers plan expiry-specific strategies with reduced risk and increased probability of profit.

Improve Risk Management

Monitoring real-time Sensex option chain data helps you understand crowd positioning, avoid traps, and set better stop-loss levels. This makes your trades more calculated and reduces the chances of getting caught on the wrong side of volatility.

NiftyTrader: Most Reliable Platform for Tracking Sensex Option Chain

NiftyTrader is India’s most trusted and feature-rich platform for real-time analysis of the BSE Sensex Option Chain. With advanced tools and a user-friendly interface, it empowers traders to make high-conviction decisions backed by accurate, data-driven insights. Whether you're a professional options trader or a retail investor, NiftyTrader offers unmatched precision in presenting strike-wise data, OI changes, option buildups, and more.

Our live Sensex option chain includes real-time updates with auto-refresh, ensuring you never miss critical movements. From LTP and OI to Max Pain and PCR, everything is visually structured for in-depth analysis. You also get access to the Sensex option chain chart, allowing graphical tracking of call/put OI and trending strikes, aiding in quick support-resistance identification.

With toggle options for weekly/monthly expiries and instant access to trending contracts, NiftyTrader goes beyond standard data feeds—it's a comprehensive trading intelligence hub.

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