F&O INDEX OUTLOOK NSE INDIA
NIFTY 50 & NIFTY BANK — Options positioning & strategy
Option chain via Groww · Cash breadth via NSE · Strategy recommended from OI + IV + breadth heuristics · Interactive P&L plot is at-expiry payoff — not investment advice.
NIFTY 50
NIFTY · 2026-05-05
CHAIN OKBias: upward drift (F&O + breadth)
Spot
24,300.15
Index chg
+1.27%
PCR (OI)
1.314
Max pain
24,250
Δ +0.21%
Breadth A/D
41 / 9
Confidence
Medium
Reasoning
  1. Put–call ratio (OI) = 1.314. Low PCR suggests crowded calls (mean-reversion risk); high PCR indicates hedging/bearish positioning.
  2. Max pain ≈ 24,250 vs spot ≈ 24,300 (+0.21%). Near expiry, price tends to gravitate toward max pain.
  3. Session ΔOI: calls +316,086, puts +1,005,251. Fresh OI in the direction of the move implies trend conviction; against the move implies hedging.
  4. ATM (24,300): CE OI 77,126 vs PE OI 90,755, CE IV 15.2% / PE IV 15.2%.
  5. Cash index breadth: 41 up / 9 down (A/D ≈ 4.56).
Full option chain · 2026-05-05 · Lot 65
CALLS STRIKE PUTS
OIΔOIIVLTPChgDeltaTheta ThetaDeltaChgLTPIVΔOIOI
20-127.91930.60+375.500.9900-1.9022,400-1.90-0.0100-0.603.0027.93,24111,880
2027.41678.75+0.000.9894-1.9722,450-1.97-0.0106-0.953.1527.43,3205,384
242-226.81775.00+284.250.9889-2.0122,500-2.01-0.0111-0.853.2526.818,26966,800
2-126.31655.00+75.900.9883-2.0722,550-2.07-0.0117-1.003.4026.31,1983,292
10025.91421.90-98.050.9874-2.1622,600-2.16-0.0126-1.153.6025.952816,432
4025.41343.85+0.000.9865-2.2722,650-2.27-0.0135-1.403.8525.42,7074,800
79224.91625.00+332.950.9856-2.3522,700-2.35-0.0144-1.454.0524.99,59824,099
23024.51273.45-134.500.9845-2.4522,750-2.45-0.0155-2.054.3024.52,9055,978
140-724.01520.00+313.100.9833-2.5722,800-2.57-0.0167-2.504.5524.022,72944,400
4023.61233.95-17.750.9818-2.7022,850-2.70-0.0182-3.154.9523.630,68333,388
98-223.11289.00+189.750.9805-2.8122,900-2.81-0.0195-3.905.2523.116,25138,701
27222.71325.85+280.100.9787-2.9822,950-2.98-0.0213-4.755.7022.74,9338,062
3,185-19222.21342.00+324.250.9768-3.1423,000-3.14-0.0232-6.056.1522.223,454103,953
14021.9959.25+0.000.9743-3.3723,050-3.37-0.0257-7.506.8021.94,1007,664
168421.51222.45+306.900.9715-3.6023,100-3.60-0.0285-8.907.5521.512,19333,787
63921.11170.55+324.250.9684-3.8623,150-3.86-0.0316-11.258.3021.18,63814,899
2962315.31149.00+329.700.9928-0.7923,200-0.79-0.0072-13.059.0515.322,05748,792
53420.41085.00+318.450.9609-4.4323,250-4.43-0.0391-16.0510.1520.410,88416,417
8511518.61055.55+329.450.9669-3.5323,300-3.53-0.0331-19.0011.2518.69,17835,568
44-1219.6973.80+290.100.9515-5.0823,350-5.08-0.0485-22.9512.6519.67,43313,499
6553915.8952.65+299.000.9747-2.3923,400-2.39-0.0253-26.9014.2015.813,13033,788
26016019.0920.00+327.250.9384-5.9323,450-5.93-0.0616-32.1016.0519.09,85515,198
7,72725217.3860.85+305.500.9444-4.9923,500-4.99-0.0556-37.1018.2017.318,47461,322
40523518.4823.75+313.850.9209-6.9723,550-6.97-0.0791-44.2520.9018.45,87010,011
1,43210117.6769.50+297.350.9157-7.0123,600-7.01-0.0843-48.8523.8017.63,55339,284
73630715.8715.00+281.350.9239-5.8123,650-5.81-0.0761-56.7527.5015.85,45514,349
2,89237016.8680.00+282.500.8941-7.9123,700-7.91-0.1059-66.6031.5016.820,23343,648
1,07344016.9634.20+270.300.8738-9.0223,750-9.02-0.1262-78.2036.4516.98,86416,339
7,7091,26416.6589.25+258.550.8580-9.5723,800-9.57-0.1420-87.3042.0516.633,09259,177
1,56957916.6546.90+245.700.8343-10.6223,850-10.62-0.1657-98.4048.4516.615,88420,132
9,66233116.5504.50+235.450.8098-11.5423,900-11.54-0.1902-111.3055.9516.537,67058,404
2,819-82616.4463.30+221.650.7840-12.3623,950-12.36-0.2160-125.9564.5516.412,75023,197
39,958-17,71716.1423.25+207.900.7574-12.9824,000-12.98-0.2426-136.7574.1016.182,879138,783
12,318-1,29316.0384.45+192.750.7276-13.6324,050-13.63-0.2724-146.3585.6016.029,48138,360
36,135-2,54415.8346.40+177.800.6950-14.2324,100-14.23-0.3050-165.1098.0515.896,108120,410
19,4938,20415.7311.45+164.050.6600-14.7524,150-14.75-0.3400-178.05112.5515.748,03952,046
58,68713,02215.5277.80+149.650.6232-15.1124,200-15.11-0.3768-194.65129.0015.5102,019122,700
30,03821,15715.3246.15+135.150.5841-15.4024,250-15.40-0.4159-208.20147.0515.352,96954,334
77,12649,63115.2215.60+119.900.5438-15.4624,300-15.46-0.4562-223.50167.2015.278,64990,755
25,79015,75415.0188.45+107.550.5021-15.3924,350-15.39-0.4979-234.25189.5015.015,35516,106
48,48820,99014.8163.00+92.900.4595-15.1524,400-15.15-0.5405-251.30214.0514.818,14523,186
16,1869,62614.7139.85+80.000.4170-14.7924,450-14.79-0.5830-258.65240.9514.73,9954,824
91,34524,84314.6118.90+68.100.3748-14.2624,500-14.26-0.6252-277.00270.0014.69,06125,321
21,22014,56714.5100.70+57.600.3336-13.5824,550-13.58-0.6664-290.75302.0514.52,1052,805
41,23611,10314.584.05+48.000.2944-12.8124,600-12.81-0.7056-288.30335.0014.51,7294,552
16,6077,61914.470.20+39.250.2577-11.9824,650-11.98-0.7423-302.50372.3514.4687921
35,0664,46814.457.90+32.200.2230-11.0224,700-11.02-0.7770-310.50409.0014.41,7524,064
16,4343,95714.347.80+25.900.1917-10.0724,750-10.07-0.8083-316.05448.1014.3333465
51,67716,39614.338.90+20.400.1634-9.1024,800-9.10-0.8366-326.90489.0514.31,0444,060
14,8696,81214.431.85+16.250.1386-8.1724,850-8.17-0.8614-311.65537.3514.4120265
34,20214,25714.425.90+12.350.1169-7.2824,900-7.28-0.8831-322.75584.5514.42092,767
19,04511,24014.521.05+9.500.0983-6.4624,950-6.46-0.9017-305.20623.1514.5861
105,39511,46214.617.20+7.100.0824-5.7025,000-5.70-0.9176-329.65667.0014.6-748,623
12,7393,68914.714.05+5.350.0688-5.0025,050-5.00-0.9312-155.15746.5514.72742
45,0622,37114.811.40+2.950.0577-4.4025,100-4.40-0.9423-321.15774.2514.816166
13,5108,83614.99.35+2.650.0479-3.8325,150-3.83-0.9521-203.85837.9014.914
51,466-5,94515.07.60+2.100.0397-3.3225,200-3.32-0.9603-330.30847.6515.0251,143
10,9643,77215.26.30+1.500.0333-2.9125,250-2.91-0.9667-291.75910.6515.2737
32,7553,64715.45.25+0.900.0283-2.5725,300-2.57-0.9717-301.05986.0515.41272
10,3886,52915.64.35+0.550.0237-2.2425,350-2.24-0.9763-158.051039.2515.613
27,2416,47715.83.60+0.450.0198-1.9525,400-1.95-0.9802-311.751087.2515.8-150
11,4715,24416.13.10+0.050.0171-1.7525,450-1.75-0.9829-300.701137.9016.1015
70,0701,55216.22.60-0.050.0142-1.5125,500-1.51-0.9858-324.501160.0016.2-1194,978
6,8492,55516.52.20+0.050.0123-1.3525,550-1.35-0.9877+99.301526.9516.5010
35,9148,73716.71.95-0.050.0106-1.2125,600-1.21-0.9894-337.901241.1016.7-1674
6,22514116.81.50-0.150.0086-1.0025,650-1.00-0.9914-317.351319.4016.8024
21,38745517.01.30-0.150.0074-0.9025,700-0.90-0.9926-178.551360.0017.007
7,4251,13617.21.15-0.100.0063-0.7925,750-0.79-0.9937-911.951726.0517.200
49,7461,91017.50.95-0.200.0054-0.7025,800-0.70-0.9946+0.001750.8017.5019
5,25096617.90.90-0.150.0051-0.6725,850-0.67-0.9949+144.401825.8017.903
21,4071,75418.30.80-0.150.0047-0.6525,900-0.65-0.9953+145.701875.7018.307
6,0121,77418.70.85-0.050.0044-0.6225,950-0.62-0.9956-906.901925.6018.700
79,6988,87318.90.70-0.250.0038-0.5526,000-0.55-0.9962-325.301650.0018.9-1502,810
9,15073419.30.65-0.100.0035-0.5226,050-0.52-0.9965-904.752025.4519.300
26,063-1,08419.70.65-0.100.0034-0.5326,100-0.53-0.9966+5.352075.3519.7011
1,42014120.20.65-0.100.0034-0.5326,150-0.53-0.9966-902.852125.3020.200
5,23527720.60.60-0.100.0031-0.5026,200-0.50-0.9969+172.202175.2020.605
Recommended strategy
Bull Call Spread Bullish
BUY 24,300 CE @ 215.60
SELL 24,400 CE @ 163.00
Lot size65
Max profit₹3,081
Max loss₹-3,419
Breakeven(s)24,354
Buy 24,300 CE @ 215.60, Sell 24,400 CE @ 163.00. Net debit strategy that profits from a moderate upside move. Capped risk and reward.
P&L at expiry — interactive simulator
P&L curve Breakeven Buy / Max profit Sell / Max loss Spot price
NIFTY BANK
BANKNIFTY · 2026-05-26
CHAIN OKBias: upward drift (F&O + breadth)
Spot
56,014.05
Index chg
+1.11%
PCR (OI)
0.931
Max pain
56,500
Δ -0.86%
Breadth A/D
13 / 1
Confidence
Medium
Reasoning
  1. Put–call ratio (OI) = 0.931. Low PCR suggests crowded calls (mean-reversion risk); high PCR indicates hedging/bearish positioning.
  2. Max pain ≈ 56,500 vs spot ≈ 56,014 (-0.86%). Near expiry, price tends to gravitate toward max pain.
  3. Session ΔOI: calls +45,807, puts +37,887. Fresh OI in the direction of the move implies trend conviction; against the move implies hedging.
  4. ATM (56,000): CE OI 27,169 vs PE OI 29,180, CE IV 18.4% / PE IV 18.4%.
  5. Cash index breadth: 13 up / 1 down (A/D ≈ 13.00).
Full option chain · 2026-05-26 · Lot 30
CALLS STRIKE PUTS
OIΔOIIVLTPChgDeltaTheta ThetaDeltaChgLTPIVΔOIOI
12023.54179.20-182.750.9205-9.8251,600-9.82-0.0795-77.55133.0523.5111399
20023.44090.45-1909.550.9161-10.2251,700-10.22-0.0839-75.00141.7523.477288
28023.14002.35-2000.500.9147-10.1851,800-10.18-0.0853-80.50142.1523.1206485
19023.13914.90-785.100.9095-10.6651,900-10.66-0.0905-82.70153.0023.183326
2,145-1220.54449.90+513.450.9286-7.9052,000-7.90-0.0714-87.90157.5020.51939,575
21022.93741.95-223.050.9007-11.3252,100-11.32-0.0993-84.10169.6022.954391
20022.63766.85+0.000.8982-11.3852,200-11.38-0.1018-93.85172.3522.6176463
28022.73571.90-976.850.8922-11.8852,300-11.88-0.1078-90.75185.2022.7121432
32022.53488.00-695.500.8880-12.1252,400-12.12-0.1120-97.55192.4022.5-2282
261-522.33946.20+459.700.8837-12.3652,500-12.36-0.1163-104.90199.9522.36673,641
43-2822.23934.40+416.000.8785-12.6952,600-12.69-0.1215-114.05210.0022.2149477
43022.13370.65+0.000.8733-12.9852,700-12.98-0.1267-114.25219.5522.115350
89022.03160.45-289.550.8677-13.3252,800-13.32-0.1323-116.80230.5522.046383
21021.83080.70-284.300.8627-13.5452,900-13.54-0.1373-126.95239.2521.8104411
2,60112219.53548.55+473.150.8805-11.0353,000-11.03-0.1195-129.05252.8019.564210,345
27021.72923.95-273.950.8493-14.3653,100-14.36-0.1507-130.40267.5021.796432
21021.62962.05+0.000.8431-14.6753,200-14.67-0.1569-149.45279.1521.6159506
94021.53062.00+210.000.8361-15.0453,300-15.04-0.1639-147.60294.3021.5352694
25-121.33086.10+324.300.8306-15.1953,400-15.19-0.1694-171.05303.2521.3198517
400-121.23177.20+469.650.8233-15.5353,500-15.53-0.1767-159.55317.0021.21,4324,355
25021.22742.70+0.000.8148-15.9953,600-15.99-0.1852-172.00333.1521.2139446
127-121.02880.00+48.900.8079-16.2353,700-16.23-0.1921-170.85348.8021.0185568
122020.92598.30+143.950.8002-16.5253,800-16.52-0.1998-186.25367.2520.9147600
42120.72460.40-82.300.7930-16.7153,900-16.71-0.2070-188.55380.4520.7119448
3,59810020.32734.10+403.500.7875-16.6554,000-16.65-0.2125-194.45399.4520.365412,529
48-420.52417.05+91.600.7754-17.3854,100-17.38-0.2246-191.70419.0520.547286
44-620.62465.10+282.900.7643-17.9454,200-17.94-0.2357-196.70449.1020.6208461
33-520.32408.55+306.850.7573-17.9554,300-17.95-0.2427-213.15459.3520.3115336
82020.22080.90+0.000.7476-18.2454,400-18.24-0.2524-222.50481.4520.2202445
92223619.32313.35+363.100.7454-17.5354,500-17.53-0.2546-225.20502.0519.38403,080
47-1719.92147.90+210.000.7282-18.7054,600-18.70-0.2718-230.30525.4519.9148302
87-219.82137.40+299.400.7179-18.9454,700-18.94-0.2821-242.25550.0019.8333557
96519.72104.10+373.750.7071-19.2054,800-19.20-0.2929-246.80574.3019.7177495
102-1219.71947.70+305.500.6952-19.5654,900-19.56-0.3048-246.35606.9519.7199334
5,09022619.51969.00+331.900.6855-19.5555,000-19.55-0.3145-264.05625.8519.51,42115,086
1467219.41830.45+240.100.6733-19.8555,100-19.85-0.3267-273.45657.9019.4375628
28112619.31811.35+305.150.6619-19.9855,200-19.98-0.3381-293.50681.2519.3332743
58224319.11744.35+302.850.6503-20.0555,300-20.05-0.3497-303.50711.6019.1459992
1,07653918.91682.15+281.900.6389-20.0055,400-20.00-0.3611-305.60741.7518.91,1351,797
5,2471,41118.81618.35+283.600.6263-20.1255,500-20.12-0.3737-319.85779.5018.82,75012,200
1,64230818.71554.20+278.850.6132-20.2555,600-20.25-0.3868-324.10813.0018.71,7292,456
1,56040918.71494.05+261.000.5998-20.4155,700-20.41-0.4002-330.35849.1518.71,5842,514
2,8791,59818.61428.60+230.150.5864-20.4755,800-20.47-0.4136-329.20884.6018.62933,314
2,5291,61318.51369.90+244.050.5728-20.5455,900-20.54-0.4272-358.80917.7018.51,6522,551
27,1693,01818.41311.15+230.200.5590-20.5856,000-20.58-0.4410-352.15959.0018.41,60129,180
3,1081,48418.31251.65+216.500.5451-20.5656,100-20.56-0.4549-365.30996.6018.3-1011,166
3,9483,07418.21194.50+205.200.5310-20.4956,200-20.49-0.4690-373.451038.9518.21,7552,508
2,97997018.11139.30+197.600.5167-20.4156,300-20.41-0.4833-371.951087.0518.13812,058
1,04416718.01080.00+185.350.5023-20.3256,400-20.32-0.4977-376.501129.1518.0105947
14,25259917.91026.40+181.300.4877-20.1956,500-20.19-0.5123-398.151176.4017.981812,123
1,64373417.9974.60+159.700.4732-20.1456,600-20.14-0.5268-375.951233.0517.9286890
1,51768517.8926.25+163.350.4586-19.9956,700-19.99-0.5414-380.501304.9517.8190678
2,6934317.7880.95+158.150.4438-19.7956,800-19.79-0.5562-438.051324.0017.7572,280
73421817.7835.00+156.200.4293-19.6556,900-19.65-0.5707-405.951405.5017.717326
21,860-63617.4787.90+138.450.4134-19.1957,000-19.19-0.5866-450.001423.8017.473812,618
98250917.5744.20+127.100.3997-19.1257,100-19.12-0.6003-461.451521.0017.519225
1,00024617.3699.30+121.350.3843-18.7357,200-18.73-0.6157-390.551550.0017.313293
2,00317917.2660.00+126.750.3692-18.3757,300-18.37-0.6308-456.601606.0017.238393
82722017.3623.45+120.100.3562-18.2557,400-18.25-0.6438-396.001753.3017.374253
7,7321,30617.0584.05+111.000.3394-17.5957,500-17.59-0.6606-472.001720.0017.02294,706
54627817.1546.60+106.000.3269-17.4557,600-17.45-0.6731-367.901885.9017.11111,567
58712417.1517.00+99.000.3134-17.1357,700-17.13-0.6866-267.101920.0017.1103165
59417817.0481.00+86.100.2990-16.6757,800-16.67-0.7010-369.751946.4017.081152
1,03163316.9448.30+78.400.2851-16.2257,900-16.22-0.7149+372.152743.4016.9065
17,8851,05616.8419.65+75.150.2712-15.7358,000-15.73-0.7288-460.952062.2016.81688,953
6509216.7392.25+69.950.2585-15.3358,100-15.33-0.7415-610.852126.6516.70100
68817616.7366.35+64.650.2460-14.9058,200-14.90-0.7540-266.452193.5516.70101
63225016.7340.00+58.400.2335-14.4458,300-14.44-0.7665+159.602349.6016.734127
87222816.6316.15+47.750.2211-13.9458,400-13.94-0.7789+453.153130.0516.6096
9,0231,80816.5292.50+50.250.2085-13.3958,500-13.39-0.7915-477.852443.9516.5-42,210
53315116.5273.35+46.000.1980-13.0058,600-13.00-0.8020+0.002941.3516.5043
71826516.4252.70+45.250.1860-12.4258,700-12.42-0.8140+451.103373.1016.4044
84719816.3232.20+37.100.1752-11.9458,800-11.94-0.8248+1160.053455.6016.3025
73239616.4214.60+37.000.1658-11.5358,900-11.53-0.8342+1137.553538.8516.4014
16,0421,79816.3198.25+32.850.1555-11.0259,000-11.02-0.8445-478.852898.8516.3134,371
51119216.3184.55+27.200.1462-10.5659,100-10.56-0.8538+742.703707.4016.3015
1,23779916.2168.80+22.900.1365-10.0359,200-10.03-0.8635+0.003621.6516.2054
63810816.2159.60+24.100.1279-9.5859,300-9.58-0.8721+713.903878.5516.2036
8912016.2145.95+16.350.1210-9.2559,400-9.25-0.8790+0.003697.2516.2013
6,1921,94615.6132.85+16.200.1046-8.0359,500-8.03-0.8954-513.053270.0015.6-1482
1,4861,06616.2124.15+17.550.1060-8.4059,600-8.40-0.8940+512.304139.8516.2026
52020516.0114.65+16.550.0967-7.7759,700-7.77-0.9033-30.003620.0016.0026
63710916.1104.30+8.650.0920-7.5459,800-7.54-0.9080+1036.804316.8016.1035
5411116.196.10+8.100.0859-7.1759,900-7.17-0.9141+756.254406.1016.1021
62,3165,76114.587.70+9.050.0579-4.7560,000-4.75-0.9421-529.003706.3014.58036,884
1,210-6616.180.25+2.650.0739-6.3860,100-6.38-0.9261+61.904317.9016.1022
5747416.275.55+6.100.0699-6.1560,200-6.15-0.9301+0.004220.0016.2046
3801416.371.20+5.950.0661-5.9260,300-5.92-0.9339+837.454768.0016.3027
2333816.263.15+1.450.0601-5.4560,400-5.45-0.9399+729.554859.5516.2015
Recommended strategy
Bull Call Spread Bullish
BUY 56,000 CE @ 1311.15
SELL 57,000 CE @ 787.90
Lot size30
Max profit₹14,302
Max loss₹-15,698
Breakeven(s)56,524
Buy 56,000 CE @ 1311.15, Sell 57,000 CE @ 787.90. Net debit strategy that profits from a moderate upside move. Capped risk and reward.
P&L at expiry — interactive simulator
P&L curve Breakeven Buy / Max profit Sell / Max loss Spot price
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