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Options Flow

NIFTY Option Chain Analysis Today

The NIFTY option chain read for you — how open interest is being built (long vs short buildup, covering, unwinding), where the call and put walls sit, and what the PCR, premium flow and IV say about positioning. Weekly expiry 2026-05-12.

Short buildup dominatesPCR-OI 0.78Expiry day

Spot

23,820.25

PCR (OI)

0.78

call-heavy

PCR (Vol)

1.24

volume-based

IV trend

elevated

premium regime

How OI is building

Strike-sides classified by open-interest change and price. Green = bullish intent, red = bearish intent.

Short buildup
33
Long buildup
11
Short covering
13
Long unwinding
4

Call & put OI walls

Open interest by strike — call OI (resistance) left, put OI (support) right.

23,600
23,650
23,700
23,750
23,800
23,850
23,900
23,950
24,000

Premium flow

Call premium

₹10,144 Cr

Put premium

₹27,956 Cr

Put ÷ Call

2.8×

put-premium heavy

Draconic read

Positioning leans bearish-to-rangebound — short buildup dominates.

Across the analyzed strikes, short buildup leads (33) — options writers are adding shorts, which historically caps the move. PCR-OI 0.78 is call-heavy — bullish / complacent positioning; put premium (₹27,956 Cr) is running 2.8× call premium (₹10,144 Cr). IV is elevated — premiums richer than usual, and it's expiry day, so pins toward the heaviest-OI strikes are more likely.

Generated from 6 of 175+ Draconic signals · 11 May, 03:30 pm IST · analysis, not advice

How we compute this

For every strike we compare the change in open interest against the price move to classify positioning — long buildup, short buildup, short covering or long unwinding — then count how many strike-sides fall in each bucket. That labelled read is what separates this from a raw option chain: it shows intent, not just the OI number. The call and put OI walls are the strikes carrying the heaviest interest, which tend to act as resistance and support.

PCR on open interest and volume frames directional positioning; premium flow (total call vs put premium traded) shows where money is actually going; IV trend frames how rich premiums are. This options-positioning layer is one of several Draconic reads alongside 175+ signals.

Frequently asked

What is OI buildup?

Open-interest buildup classifies how positioning is changing at each strike: long buildup (price up + OI up = new longs), short buildup (price down + OI up = new shorts), short covering (price up + OI down = shorts exiting) and long unwinding (price down + OI down = longs exiting). It shows intent, not just the raw OI number.

What does short buildup dominating mean?

When short buildup dominates, options writers are adding fresh short positions — historically associated with a capped or range-bound move, since writers hedge against the direction they've sold. It is context on positioning, not a signal.

What is a call or put wall?

A call wall is a strike with very heavy call open interest that often acts as resistance; a put wall is heavy put OI that often acts as support. Price frequently gravitates between the strongest walls into expiry.

What does the put-call ratio (PCR) tell you?

PCR on open interest divides put OI by call OI. High PCR (put-heavy) reflects bearish positioning or heavy hedging; low PCR (call-heavy) reflects bullish or complacent positioning. It works best as a contrarian read at extremes, alongside buildup and premium flow.

Is this a buy or sell signal?

No. This is educational analysis of options positioning — not advice, a recommendation, or a prediction. Cross-check before acting.

Educational analysis only — not investment advice, not a recommendation, and not a prediction. Draconic is not a SEBI-registered investment adviser, research analyst, or broker-dealer. All figures are derived analytics computed from market data and may be delayed or incorrect; levels shown are observed structure, not targets. Do your own research and cross-check before acting — even Draconic can miss.