Option Chain Explorer

The option chain is the trader's cockpit. Read open interest to find support/resistance walls, implied volatility per strike to see the smile, and the Greeks at a glance. This is a real recent NSE end-of-day chain.

Spot — Expiry 11 Aug 2026 Calls (CE) Puts (PE)

OIIVDeltaLTP Strike LTPDeltaIVOI

0k — — 2,965.2 21,600 0.2 -0.00 71.0 2,329k

0k — — 2,877.3 21,650 0.2 -0.00 69.8 90k

0k — — 2,828.1 21,700 0.2 -0.00 67.1 218k

0k — — 2,778.9 21,750 0.2 -0.00 67.4 64k

0k — — 2,729.8 21,800 0.3 -0.00 67.5 157k

0k — — 2,680.8 21,850 0.2 -0.00 65.1 37k

0k — — 2,631.8 21,900 0.2 -0.00 64.0 86k

0k — — 2,582.9 21,950 0.2 -0.00 62.8 47k

5k 97.3 0.98 2,602.9 22,000 0.2 -0.00 61.6 664k

0k — — 2,485.5 22,050 0.2 -0.00 60.5 38k

0k — — 2,436.9 22,100 0.2 -0.00 59.3 144k

0k — — 2,388.5 22,150 0.2 -0.00 58.1 83k

0k — — 2,340.2 22,200 0.2 -0.00 57.0 162k

0k — — 2,292.0 22,250 0.3 -0.00 56.9 24k

0k — — 2,244.0 22,300 0.3 -0.00 56.6 180k

0k — — 2,196.2 22,350 0.3 -0.00 54.5 53k

0k — — 2,148.5 22,400 0.3 -0.00 53.4 246k

0k — — 2,101.0 22,450 0.3 -0.00 52.2 65k

2k 95.6 0.95 2,104.2 22,500 0.3 -0.00 51.0 1,015k

0k — — 2,006.8 22,550 0.3 -0.00 49.8 86k

0k — — 1,960.0 22,600 0.4 -0.00 50.1 308k

0k — — 1,913.4 22,650 0.4 -0.00 48.9 94k

0k — — 1,867.2 22,700 0.4 -0.00 48.3 426k

0k — — 1,821.2 22,750 0.4 -0.00 46.5 143k

4k — — 1,690.0 22,800 0.3 -0.00 44.7 499k

0k — — 1,730.1 22,850 0.4 -0.00 44.7 67k

0k 69.5 0.96 1,731.7 22,900 0.4 -0.00 43.5 315k

0k — — 1,640.4 22,950 0.4 -0.00 42.3 112k

32k 62.2 0.97 1,602.0 23,000 0.6 -0.00 42.4 4,307k

0k 60.9 0.97 1,552.3 23,050 0.5 -0.00 40.7 127k

1k 76.7 0.92 1,508.0 23,100 0.5 -0.00 39.1 629k

0k — — 1,415.7 23,150 0.7 -0.00 39.3 144k

4k 72.6 0.92 1,408.2 23,200 0.5 -0.00 36.6 994k

0k — — 1,208.4 23,250 0.7 -0.00 36.8 243k

7k 53.0 0.96 1,303.2 23,300 0.7 -0.00 35.5 1,487k

2k 35.3 0.99 1,232.6 23,350 0.6 -0.00 33.9 271k

6k 44.4 0.97 1,197.8 23,400 0.6 -0.00 32.7 1,179k

0k 31.2 0.99 1,097.4 23,450 0.5 -0.00 30.8 316k

52k 40.7 0.97 1,097.4 23,500 0.6 -0.00 29.9 5,994k

2k 58.2 0.90 1,058.7 23,550 0.6 -0.00 28.6 549k

17k 42.7 0.95 1,003.6 23,600 0.7 -0.01 27.9 3,974k

7k 43.0 0.94 956.8 23,650 0.7 -0.01 26.6 1,266k

39k 35.6 0.96 898.9 23,700 0.7 -0.01 25.5 3,677k

7k 34.9 0.96 850.1 23,750 0.8 -0.01 24.4 1,607k

51k 33.1 0.96 800.0 23,800 0.8 -0.01 23.3 5,365k

15k 31.5 0.95 750.1 23,850 1.0 -0.01 22.6 1,658k

75k 29.9 0.95 700.4 23,900 1.0 -0.01 21.2 4,250k

29k 26.7 0.96 648.4 23,950 1.1 -0.01 20.1 2,482k

449k 24.1 0.96 597.3 24,000 1.3 -0.01 19.1 10,630k

35k 23.4 0.95 548.6 24,050 1.4 -0.01 17.8 2,818k

218k 20.7 0.95 497.4 24,100 1.7 -0.02 16.9 4,472k

62k 20.8 0.94 450.2 24,150 2.2 -0.02 16.0 3,238k

651k 18.3 0.94 399.1 24,200 2.9 -0.03 15.3 8,576k

112k 18.1 0.91 352.6 24,250 3.9 -0.05 14.4 4,369k

469k 19.4 0.86 312.2 24,300 6.3 -0.07 14.1 7,054k

276k 16.0 0.86 258.3 24,350 9.5 -0.10 13.6 4,912k

906k 14.9 0.82 212.7 24,400 15.2 -0.15 13.3 7,915k

716k 14.5 0.76 171.6 24,450 23.9 -0.22 13.1 5,348k

4,043k 14.3 0.68 135.1 24,500 36.5 -0.31 13.0 11,689k

3,870k 13.8 0.59 100.8 24,550 53.1 -0.41 12.7 7,245k

15,316k 13.6 0.49 73.3 24,600 74.7 -0.52 12.5 11,397k

7,354k 13.7 0.38 51.9 24,650 102.7 -0.63 12.3 2,582k

11,093k 13.5 0.29 34.4 24,700 136.7 -0.73 12.3 2,665k

5,573k 13.4 0.21 21.9 24,750 173.4 -0.83 11.7 669k

9,900k 13.4 0.14 13.4 24,800 214.8 -0.91 11.0 816k

6,499k 13.4 0.09 7.9 24,850 257.8 — — 143k

11,842k 13.8 0.06 5.0 24,900 305.9 — — 365k

6,026k 14.5 0.04 3.6 24,950 352.9 — — 69k

12,896k 15.4 0.03 2.8 25,000 405.0 — — 404k

4,012k 16.0 0.02 2.0 25,050 453.9 — — 39k

7,369k 17.0 0.02 1.7 25,100 503.8 — — 51k

2,443k 18.1 0.02 1.5 25,150 551.0 — — 18k

7,475k 19.0 0.01 1.3 25,200 602.9 — — 54k

2,243k 20.0 0.01 1.1 25,250 644.8 — — 12k

4,748k 21.2 0.01 1.1 25,300 702.9 — — 18k

2,273k 22.0 0.01 0.9 25,350 744.7 — — 10k

4,243k 22.9 0.01 0.8 25,400 794.6 — — 12k

1,348k 24.0 0.01 0.8 25,450 843.9 — — 0k

9,533k 24.8 0.01 0.7 25,500 901.0 — — 90k

1,408k 25.7 0.01 0.6 25,550 848.9 — — 2k

4,900k 26.7 0.00 0.6 25,600 995.5 — — 3k

911k 28.1 0.00 0.6 25,650 1,032.6 — — 4k

3,303k 28.3 0.00 0.5 25,700 1,100.8 -0.97 38.2 1k

644k 29.5 0.00 0.5 25,750 1,147.7 — — 0k

3,454k 30.6 0.00 0.5 25,800 1,184.2 — — 2k

713k 32.3 0.00 0.6 25,850 1,239.9 — — 1k

2,535k 32.4 0.00 0.4 25,900 1,363.1 -0.90 61.9 0k

576k 33.1 0.00 0.4 25,950 1,497.8 -0.82 100.4 0k

4,910k 35.0 0.00 0.5 26,000 1,402.3 — — 139k

306k 35.6 0.00 0.4 26,050 1,584.3 -0.83 101.2 0k

681k 35.7 0.00 0.3 26,100 1,628.1 -0.84 101.6 0k

443k 36.2 0.00 0.3 26,150 1,672.3 -0.84 102.0 0k

251k 37.8 0.00 0.3 26,200 1,584.6 — — 5k

168k 38.2 0.00 0.3 26,250 1,761.7 -0.86 102.9 0k

183k 39.9 0.00 0.3 26,300 1,806.8 -0.86 103.4 0k

57k 40.2 0.00 0.3 26,350 1,852.3 -0.87 103.9 0k

170k 41.2 0.00 0.3 26,400 1,898.0 -0.87 104.4 0k

45k 42.2 0.00 0.3 26,450 1,943.9 -0.88 105.0 0k

691k 43.9 0.00 0.3 26,500 1,896.5 — — 0k

55k 44.2 0.00 0.3 26,550 2,036.6 -0.89 106.1 0k

98k 44.3 0.00 0.2 26,600 2,083.3 -0.89 106.7 0k

60k 46.2 0.00 0.3 26,650 2,128.1 -0.91 92.0 0k

120k 47.9 0.00 0.3 26,700 2,177.2 -0.90 108.0 0k

26k 48.1 0.00 0.3 26,750 2,224.5 -0.90 108.6 0k

113k 49.9 0.00 0.3 26,800 2,271.9 -0.91 109.3 0k

24k 50.0 0.00 0.3 26,850 2,319.5 -0.91 110.0 0k

99k 50.1 0.00 0.2 26,900 2,367.3 -0.91 110.8 0k

52k 52.0 0.00 0.3 26,950 2,415.2 -0.92 111.5 0k

266k 52.0 0.00 0.2 27,000 2,501.0 -0.90 111.6 2k

60k 52.9 0.00 0.2 27,050 2,511.4 — — 0k

173k 53.9 0.00 0.2 27,100 2,559.7 -0.93 113.9 0k

143k 54.8 0.00 0.2 27,150 2,608.1 -0.93 114.7 0k

268k 56.8 0.00 0.3 27,200 2,656.6 -0.93 115.5 0k

How to read the chain

Open Interest walls

The strikes with the largest call OI act as resistance (sellers defending), and the largest put OI as support. The longest bars mark where the market has placed its biggest bets.

The volatility smile

Scan IV down the strikes. It usually rises toward OTM puts (crash insurance) and forms a "smile". A single ATM IV hides this — the chain shows it.

Delta as probability

A 0.30-delta call has roughly a 30% chance of finishing in-the-money. Delta is your quick gauge of how aggressive a strike is.

About the Option Chain Explorer

The Option Chain Explorer shows a real NSE end-of-day option chain for NIFTY or BANKNIFTY, laid out call-versus-put around the at-the-money strike. It highlights the open-interest walls (the strikes where the most contracts sit, which often act as support and resistance), the implied-volatility smile across strikes, per-strike Greeks, and the max-pain point — the strike at which option buyers collectively lose the most. It is the single screen professionals scan to read positioning.

What you can do

View calls and puts side by side, centred on the ATM strike.
Spot the open-interest walls — the heaviest strikes that often act as magnets or barriers.
See the IV smile: how implied volatility varies across strikes.
Read max pain and per-strike Greeks on real end-of-day data.

How to read OI walls and max pain

If the NIFTY chain shows a huge call open-interest build-up at 24500 and a large put build-up at 23500, those strikes are the "walls" — sellers have written heavily there and price often gravitates between them into expiry. Max pain is the strike where the largest rupee value of options expires worthless; price frequently drifts toward it as expiry approaches, a tendency the chain makes visible at a glance.

Frequently asked

What is an open-interest (OI) wall?

An OI wall is a strike with an unusually large number of outstanding option contracts. Heavy call OI above the spot can act as resistance and heavy put OI below can act as support, because option writers defend those levels.

What is max pain?

Max pain is the strike price at which the total value of in-the-money options is lowest at expiry — i.e. where option buyers lose the most. Prices sometimes gravitate toward max pain as expiry nears.

What is the IV smile?

The IV smile (or skew) is the pattern of implied volatility across strikes. Out-of-the-money puts often carry higher IV than calls in index options, reflecting demand for downside protection.

Learn the concepts

Educational content only — nothing here is investment advice. Derivatives carry significant risk of loss; SEBI studies show the large majority of individual F&O traders lose money. Tapetide is not a SEBI-registered research analyst or investment adviser.