Crude Oil Option Chain (MCX): Live Chart, PCR

About Crude Option Chain

The crude option chain provides a detailed snapshot of all available call and put option contracts for crude oil, helping traders analyze market sentiment, volatility, and potential price movements. It includes essential data like strike prices, open interest, volume, and premium fluctuations, allowing for smarter decision-making in the energy derivatives market. 

By tracking crude oil options prices, traders can identify support and resistance levels, manage risk, and strategize effectively for intraday or positional trades. This page brings you real-time crude option chain data, along with explanations, trading insights, and everything you need to navigate crude oil options confidently.

Crude Oil Option Chain Live Chart Today

The live chart above displays the MCX Crude Option Chain, offering real-time insights into call and put options for crude oil traded on the Multi Commodity Exchange (MCX). This dynamic chart provides key data such as strike prices, open interest, volume, implied volatility, and last traded price, helping traders make informed decisions. 

By analyzing the crude oil prices MCX alongside option chain data, you can identify crucial support and resistance levels, monitor market sentiment, and plan effective strategies. Whether you're a beginner or an experienced trader, the MCX crude option chain chart is an essential tool for navigating energy markets.

Key Terms in Crude Oil Option Chain

Strike Price

The fixed price at which the buyer can buy (Call) or sell (Put) crude oil on or before the expiry date.

Call Option (CE)

A contract that gives the buyer the right (not obligation) to buy crude oil at a specific strike price before expiry.

Put Option (PE)

A contract that gives the buyer the right to sell crude oil at a specific strike price before expiry.

LTP (Last Traded Price)

The most recent price at which the option contract was traded. It reflects current market value.

Open Interest (OI)

The total number of outstanding contracts for a particular strike price that haven’t been squared off or settled.

Change in OI

Indicates how the open interest has increased or decreased during the day, helping identify fresh positions or unwinding.

Volume

The total number of contracts traded for a specific option during the trading day. High volume signals strong activity.

IV (Implied Volatility)

A measure of expected volatility in crude oil prices. Higher IV suggests greater price fluctuations and affects premium pricing.

Premium

The price a trader pays to buy a call or put option. It’s influenced by IV, time to expiry, and market movement.

Expiry Date

The date on which the option contract expires. After this, the contract becomes invalid and is settled.

ATM (At The Money)

The strike price closest to the current market price of crude oil. Most traded and watched option.

ITM/OTM

In The Money (ITM) options have intrinsic value. Out of The Money (OTM) options do not but can become profitable.

How to Read Crude Oil Option Chain Data?

Reading the crude oil option chain table is essential for understanding market behavior, identifying key levels, and making informed trading decisions.

1. Understand the Layout

The table is split into two sides:

• Left Side: Call Options (CE)

• Right Side: Put Options (PE)

The Strike Prices are listed in the center column.

2. Identify the ATM (At The Money) Strike

Find the strike price closest to the current crude oil prices on MCX. This is considered the At The Money (ATM) option—usually the most active.

3. Analyze Key Columns

Each side (CE & PE) will have the following columns:

• OI (Open Interest): Indicates the number of active contracts. High OI = Strong interest.

• Change in OI: Shows whether new positions are being added (build-up) or closed (unwinding).

• Volume: Total contracts traded during the day. High volume = High activity.

• LTP (Last Traded Price): The latest traded premium price.

• IV (Implied Volatility): Indicates market expectations of price volatility.

4. Spot Support and Resistance Levels

• High OI in Puts at a strike = Potential support zone.

• High OI in Calls at a strike = Potential resistance zone.

5. Watch for OI & Price Action Combo

• Rising OI + Rising Premium = Strong trend (bullish or bearish).

• Rising OI + Falling Premium = Possible reversal or selling pressure.

6. Use Filters Wisely

Narrow down by expiry date, option type, or strike range for clearer analysis.

Benefits of Analyzing Crude Oil Option Chain

• Understand Market Sentiment: By analyzing call and put positions, especially open interest (OI) data, traders can gauge whether the market sentiment is bullish, bearish, or neutral.

• Identify Support and Resistance Levels: Strike prices with high Put OI indicate strong support, while high Call OI suggests strong resistance. These levels help in setting precise entry/exit points.

• Track Institutional Activity: Unusual build-up in OI or volume can signal the positions of big players or institutions, helping retail traders align with smart money.

• Volatility Forecasting: The Implied Volatility (IV) shown in the crude oil option chain helps forecast how volatile the crude oil market is expected to be, aiding in risk management.

• Better Strategy Planning: Option chain data helps in choosing the right strategy—like buying calls/puts, writing options, or using spreads—based on market behavior and trends.

• Monitor Breakouts and Trend Reversals: Rising OI and volume with price movement can signal breakouts or reversals. Traders can use this to get in early or exit on time.

• Supports Intraday and Positional Trading: Whether you are an intraday scalper or a swing trader, the data from the option chain can guide short- and medium-term trades effectively.

• Combines Well With Technical Analysis: Crude oil option chain analysis complements chart patterns, candlestick formations, and indicators like RSI and MACD for more accurate decisions.

Crude Oil Option Chain Strategies

Analyzing the crude oil option chain effectively can give traders a serious edge in understanding market sentiment, predicting price action, and executing the right strategies. Below are some proven and practical strategies:

Open Interest Build-Up Strategy

• Rising OI + Rising Price → Long Buildup (Bullish)

• Rising OI + Falling Price → Short Buildup (Bearish)

• Falling OI + Rising Price → Short Covering (Bullish)

• Falling OI + Falling Price → Long Unwinding (Bearish) 

Support & Resistance Mapping

• Identify the strike price with highest Put OI → Strong Support

• Identify the strike price with highest Call OI → Strong Resistance 

Put-Call Ratio (PCR) Analysis

• PCR > 1: More puts than calls = Bullish bias

• PCR < 1: More calls than puts = Bearish bias 

Implied Volatility (IV) Strategy

• High IV = Expensive premiums → Good for option sellers (write options)

• Low IV = Cheap premiums → Good for option buyers 

Trend Confirmation with OI Shifts

Confirm breakout or breakdown by checking if OI increases in the direction of the move. For example, if crude oil breaks above ₹7,000 and OI increases at ₹7,100 Calls, the breakout is likely real.

Max Pain Theory

Max Pain is the strike price at which option buyers lose the most money. Prices tend to move toward this level near expiry. Use it for expiry-based directional bets.

Volume Spike Strategy

Sudden surge in volume at a particular strike indicates smart money movement. Combine volume spike with change in OI to confirm breakout zones.

Straddle & Strangle Opportunity Detection

If both CE and PE at the same strike have high OI and IV → Market expecting big move.

MCX Crude Oil Option Chain vs Equity Option Chain

Know more about:

• NSE Option Chain

• BSE Option Chain

• Nifty Option Chain

• Bank Nifty Option Chain

• FinNifty Option Chain

• Gift Nifty

How to Trade Crude Oil Options in India?

1. Open a Commodity Trading Account

Start by opening a trading and demat account with a SEBI-registered broker that offers access to MCX (Multi Commodity Exchange). Ensure that the commodity segment is activated after completing eKYC. Popular brokers include Zerodha, Upstox, Angel One, ICICI Direct, and others.

2. Understand the Crude Oil Option Contract

Crude oil options in India are options on futures, not spot prices. Each MCX crude oil option contract usually covers 100 barrels. These contracts come with monthly expiries and are cash-settled, so there's no physical delivery involved for retail traders.

3. Analyze the Crude Oil Option Chain

Visit your trading platform or MCX website to check the crude oil option chain. Focus on:

• Strike prices

• Premiums (LTP)

• Open Interest (OI) and Change in OI

• Volume and Implied Volatility (IV)

This data helps you determine the market sentiment and build your trading strategy.

4. Choose Your Trading Strategy

Based on your market outlook:

• Bullish View: Buy Call Options

• Bearish View: Buy Put Options

• Volatile Market: Use Straddle or Strangle strategies

• Range-Bound Market: Write (sell) options or consider Iron Condors

Check the best option trading strategies.

5. Place the Trade

Log in to your trading account, select the desired option contract, choose the strike price, expiry date, and quantity, and place a market or limit order as per your plan.

6. Monitor Global Cues and Your Position

Keep track of factors that influence crude oil prices on MCX, such as:

• International crude oil prices (Brent/WTI)

• OPEC+ decisions

• Inventory data (EIA/API reports)

• Geopolitical developments

Adjust your position or stop-loss as needed.

7. Square Off or Hold Till Expiry

You can exit your position anytime before expiry or hold it till the contract ends. All MCX crude oil options are cash-settled, so there’s no physical delivery involved.

Tips for Using Crude Oil Option Chain Data Effectively

Identify Strong Support and Resistance Zones: Look for strike prices with the highest Put OI (support) and Call OI (resistance) to determine key price levels.

Track Change in Open Interest: A sudden spike in Change in OI indicates fresh buying/selling. Rising OI with rising premium suggests strength in that direction.

Watch Implied Volatility (IV): High IV = Expensive options (good for sellers). Low IV = Cheaper options (good for buyers).

Compare Volume with OI: High volume with rising OI means fresh positions are being built. Use it to confirm price action.

Focus on At-The-Money (ATM) Options: ATM options often have the highest liquidity and are useful for short-term trades or quick scalps.

Monitor Global Crude Oil Prices: Use crude oil prices MCX, Brent, and WTI to assess potential price movements before analyzing option chain data.

Combine with Technical Analysis: Use trendlines, RSI, MACD, or moving averages alongside option chain analysis for better timing.

Use Multi-Strike Analysis: Check multiple strike prices to understand where the bulk of market activity is happening.

Follow Expiry Trends: Near expiry, use crude option chain to spot Max Pain levels and where price is likely to gravitate.

Track Unusual Activity: Sudden volume or IV spike at specific strikes could indicate institutional or smart money moves.

Check for OI Shift During News Events: Watch OI shifts during inventory reports (EIA/API), OPEC meetings, or geopolitical news for direction clues.

Don’t Ignore Deep ITM or OTM Options: Sometimes, unusual activity at these levels signals aggressive positioning or hedging.

Use Crude Option Chain to Choose the Right Strategy: Analyze the chain to decide between buying/selling options, or deploying spreads, straddles, or strangles. Consider using the option strategy builder.

Keep Expiry Date in Mind: Data varies across contracts—check the option chain for the right expiry (weekly or monthly) that fits your trade horizon.

Practice with Paper Trades: If you’re new, start by analyzing the option chain and placing paper trades to build confidence.