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Put Call Ratio

INDEX

PCR OI

Symbol
Put
Call
Ratio

NIFTY

16,91,40,005

20,06,28,230.00

0.84

Note: OI Figures are in Thousands

PCR Volume

Symbol
Put
Call
Ratio

NIFTY

1,40,50,90,500

1,98,77,89,950.00

0.71

Note: Volume Figures are in Thousands

STOCKS

PCR OI

Symbol
Put
Call
Ratio

24,07,500

25,03,800.00

0.96

16,88,73,000

30,07,37,000.00

0.56

2,40,15,000

3,59,34,000.00

0.67

29,28,000

33,24,000.00

0.88

3,86,54,950

3,88,56,200.00

0.99

62,30,975

1,54,95,950.00

0.40

77,83,120

1,27,05,835.00

0.61

5,89,050

15,77,400.00

0.37

35,02,800

52,02,400.00

0.67

2,62,04,850

3,43,07,025.00

0.76

6,07,050

7,89,200.00

0.77

14,72,450

23,03,000.00

0.64

33,27,600

81,10,900.00

0.41

3,77,250

5,28,750.00

0.71

5,49,000

13,86,000.00

0.40

41,26,325

77,92,050.00

0.53

20,36,525

30,65,300.00

0.66

4,03,800

6,69,800.00

0.60

33,03,000

47,52,000.00

0.70

87,49,825

1,27,89,350.00

0.68

49,92,800

72,73,600.00

0.69

6,77,32,500

11,73,64,500.00

0.58

2,01,69,500

2,67,23,500.00

0.75

2,87,18,400

4,25,46,400.00

0.67

3,52,100

4,79,900.00

0.73

31,68,550

50,23,150.00

0.63

12,30,250

18,18,600.00

0.68

34,51,500

62,46,500.00

0.55

18,98,000

19,74,000.00

0.96

2,29,425

4,52,025.00

0.51

32,07,050

70,12,250.00

0.46

9,78,200

14,51,600.00

0.67

29,84,100

39,18,600.00

0.76

1,93,800

3,80,100.00

0.51

78,84,250

1,65,61,625.00

0.48

6,67,875

14,01,750.00

0.48

51,40,575

87,71,400.00

0.59

60,775

82,025.00

0.74

2,86,99,500

7,06,69,500.00

0.41

11,79,000

33,65,250.00

0.35

52,25,600

99,09,600.00

0.53

2,47,59,600

3,30,59,800.00

0.75

29,60,375

98,57,375.00

0.30

2,54,22,000

3,58,10,000.00

0.71

2,00,54,475

2,91,61,800.00

0.69

1,03,31,450

1,35,09,625.00

0.76

6,58,800

10,83,600.00

0.61

21,17,500

43,62,500.00

0.49

1,32,65,800

2,31,85,700.00

0.57

31,09,300

48,36,500.00

0.64

7,66,500

8,15,875.00

0.94

10,45,100

14,75,250.00

0.71

15,30,750

21,50,200.00

0.71

7,57,20,000

10,36,00,000.00

0.73

2,79,650

5,56,850.00

0.50

4,27,250

8,94,750.00

0.48

8,56,100

13,93,350.00

0.61

7,30,100

18,58,500.00

0.39

1,55,31,100

2,14,34,400.00

0.72

82,67,400

1,24,38,000.00

0.66

6,24,400

10,11,400.00

0.62

12,38,250

17,11,500.00

0.72

48,53,875

42,64,450.00

1.14

9,24,900

15,77,400.00

0.59

19,275

47,445.00

0.41

2,07,27,000

7,09,33,500.00

0.29

47,74,000

84,75,600.00

0.56

3,50,025

6,24,225.00

0.56

10,86,400

15,13,750.00

0.72

1,02,59,375

1,51,78,125.00

0.68

2,27,17,500

5,63,83,500.00

0.40

8,88,43,500

12,58,06,500.00

0.71

1,43,04,000

2,32,83,200.00

0.61

13,96,750

17,59,750.00

0.79

40,20,300

73,76,400.00

0.55

1,30,78,000

2,33,61,000.00

0.56

17,81,625

21,73,125.00

0.82

2,01,67,500

2,90,58,750.00

0.69

11,70,675

26,46,875.00

0.44

7,39,475

8,32,700.00

0.89

1,48,29,700

2,20,21,100.00

0.67

11,66,800

19,18,000.00

0.61

11,96,800

12,98,400.00

0.92

19,53,750

27,71,500.00

0.70

10,39,325

16,01,425.00

0.65

12,05,925

17,59,800.00

0.69

8,42,100

24,30,050.00

0.35

40,86,000

71,22,000.00

0.57

6,74,100

12,53,925.00

0.54

1,01,88,000

1,43,43,000.00

0.71

54,62,792

85,65,296.00

0.64

27,40,600

49,46,600.00

0.55

24,40,775

39,46,550.00

0.62

5,83,800

7,34,700.00

0.79

2,16,85,320

3,23,80,734.00

0.67

29,12,525

62,17,925.00

0.47

10,72,350

17,94,600.00

0.60

20,58,700

47,66,300.00

0.43

57,09,000

73,23,000.00

0.78

1,49,65,100

1,47,54,300.00

1.01

21,02,400

36,38,000.00

0.58

64,74,000

74,31,600.00

0.87

2,06,100

6,98,400.00

0.30

3,22,350

5,31,825.00

0.61

2,53,200

5,76,000.00

0.44

36,91,850

57,50,450.00

0.64

42,27,500

92,35,000.00

0.46

58,07,700

82,68,750.00

0.70

50,90,000

90,91,000.00

0.56

10,27,650

14,99,400.00

0.69

3,80,44,150

5,16,08,350.00

0.74

37,95,625

45,60,625.00

0.83

2,71,13,600

4,99,96,800.00

0.54

1,27,28,750

2,70,55,500.00

0.47

1,16,09,250

2,41,01,700.00

0.48

46,79,500

65,45,000.00

0.71

1,28,30,825

2,71,44,375.00

0.47

4,04,13,750

6,16,29,750.00

0.66

91,84,800

1,36,25,625.00

0.67

95,85,600

1,62,93,200.00

0.59

81,22,600

1,35,66,000.00

0.60

97,76,900

1,74,60,100.00

0.56

24,95,100

35,11,800.00

0.71

16,23,000

25,97,000.00

0.62

65,70,000

82,74,000.00

0.79

34,22,100

51,51,300.00

0.66

77,52,250

1,51,91,000.00

0.51

2,38,65,000

3,27,45,000.00

0.73

8,42,81,935

9,21,19,305.00

0.91

51,49,05,875

1,11,14,36,255.00

0.46

25,34,500

35,97,325.00

0.70

5,88,900

8,70,350.00

0.68

1,33,77,700

2,22,97,800.00

0.60

1,01,73,150

1,54,73,400.00

0.66

1,38,64,550

2,44,60,800.00

0.57

57,67,200

88,92,900.00

0.65

1,26,27,900

1,36,28,250.00

0.93

91,82,250

1,89,44,850.00

0.48

88,90,000

1,76,98,800.00

0.50

1,75,18,200

2,63,86,950.00

0.66

19,25,700

31,53,750.00

0.61

85,10,700

1,36,46,600.00

0.62

1,56,75,550

2,51,92,750.00

0.62

3,68,700

7,99,950.00

0.46

39,97,350

73,80,100.00

0.54

29,45,000

29,07,500.00

1.01

33,05,850

50,98,200.00

0.65

9,99,750

18,16,250.00

0.55

20,42,500

36,42,100.00

0.56

16,26,075

29,04,000.00

0.56

30,16,000

29,77,500.00

1.01

3,70,16,325

7,87,33,810.00

0.47

38,46,375

73,74,375.00

0.52

2,52,31,500

4,12,30,350.00

0.61

12,77,975

23,49,800.00

0.54

2,74,05,000

4,01,75,000.00

0.68

71,64,000

1,03,24,800.00

0.69

2,22,95,450

3,08,29,025.00

0.72

9,63,200

15,16,375.00

0.64

49,44,375

96,58,750.00

0.51

9,69,150

15,61,800.00

0.62

94,34,700

1,57,44,300.00

0.60

8,59,200

10,59,350.00

0.81

5,95,300

10,46,800.00

0.57

47,53,825

56,75,125.00

0.84

3,47,425

7,19,225.00

0.48

1,35,88,750

1,31,32,500.00

1.03

9,06,950

11,25,400.00

0.81

7,08,800

10,32,600.00

0.69

43,02,000

66,92,400.00

0.64

49,67,500

77,03,750.00

0.64

11,08,800

11,62,350.00

0.95

27,79,875

48,85,125.00

0.57

2,53,81,350

3,37,63,500.00

0.75

28,58,250

49,48,875.00

0.58

32,93,750

40,43,750.00

0.81

29,72,550

57,56,050.00

0.52

33,72,800

44,92,250.00

0.75

47,92,250

92,72,750.00

0.52

47,55,700

85,94,175.00

0.55

6,58,93,500

8,21,07,000.00

0.80

9,02,550

13,22,400.00

0.68

45,65,600

98,96,900.00

0.46

1,25,63,250

2,09,32,875.00

0.60

4,21,000

6,30,125.00

0.67

1,40,22,500

1,55,86,700.00

0.90

1,76,250

4,31,050.00

0.41

14,63,475

12,09,325.00

1.21

1,09,27,500

1,47,77,500.00

0.74

1,66,42,500

3,07,67,625.00

0.54

83,40,050

1,46,29,525.00

0.57

31,97,500

41,01,000.00

0.78

4,78,08,750

7,24,98,300.00

0.66

15,44,400

25,30,775.00

0.61

1,72,58,800

2,80,90,400.00

0.61

3,64,04,550

4,46,88,150.00

0.81

2,29,93,200

4,60,47,600.00

0.50

6,02,400

10,02,000.00

0.60

1,63,41,000

2,07,03,750.00

0.79

42,33,500

76,39,500.00

0.55

7,85,625

11,40,300.00

0.69

1,26,41,250

2,89,60,625.00

0.44

33,48,950

49,37,900.00

0.68

37,08,000

56,79,000.00

0.65

17,86,750

40,27,625.00

0.44

13,11,975

29,41,425.00

0.45

51,17,500

84,91,000.00

0.60

1,00,60,000

1,32,75,000.00

0.76

10,51,500

15,82,375.00

0.66

17,32,500

22,17,600.00

0.78

20,80,000

33,96,000.00

0.61

66,76,950

90,90,900.00

0.73

84,500

1,70,100.00

0.50

2,18,000

3,87,250.00

0.56

59,69,800

72,19,050.00

0.83

36,55,800

62,72,400.00

0.58

70,17,300

72,32,100.00

0.97

20,23,650

28,68,750.00

0.71

12,20,100

17,19,600.00

0.71

1,72,53,600

2,67,67,000.00

0.64

1,40,70,900

2,23,44,800.00

0.63

5,84,000

12,65,625.00

0.46

33,52,250

68,67,475.00

0.49

2,83,000

5,66,500.00

0.50

Note: OI Figures are in Thousands

PCR Volume

Symbol
Put
Call
Ratio

6,74,100

15,01,200.00

0.45

1,23,15,600

4,01,81,200.00

0.31

1,53,39,000

2,88,72,000.00

0.53

6,02,625

24,09,375.00

0.25

13,39,57,750

11,57,99,250.00

1.16

63,55,000

2,73,14,200.00

0.23

12,19,500

30,70,430.00

0.40

7,94,750

19,32,700.00

0.41

5,08,800

13,44,400.00

0.38

4,34,00,400

7,51,05,525.00

0.58

1,45,000

3,26,900.00

0.44

2,87,700

6,46,100.00

0.45

21,20,300

47,83,900.00

0.44

2,95,500

2,33,625.00

1.26

1,22,750

3,71,000.00

0.33

27,58,000

59,80,100.00

0.46

3,71,200

12,85,425.00

0.29

32,400

2,02,400.00

0.16

11,00,400

17,13,600.00

0.64

64,23,550

1,03,63,850.00

0.62

10,64,000

19,56,800.00

0.54

10,75,19,500

19,75,65,500.00

0.54

68,28,050

1,78,95,900.00

0.38

77,75,200

1,30,64,000.00

0.60

1,67,100

3,13,100.00

0.53

7,68,900

22,09,900.00

0.35

1,68,700

3,95,850.00

0.43

2,74,300

10,01,000.00

0.27

4,41,000

7,92,000.00

0.56

30,975

4,56,050.00

0.07

37,12,450

55,55,900.00

0.67

4,41,400

9,25,200.00

0.48

28,39,200

31,97,250.00

0.89

77,175

1,00,425.00

0.77

12,16,125

67,32,750.00

0.18

2,71,000

6,80,875.00

0.40

18,89,250

76,81,575.00

0.25

8,350

30,775.00

0.27

1,13,52,750

2,30,67,750.00

0.49

3,76,500

12,15,000.00

0.31

18,97,600

50,78,400.00

0.37

3,00,65,900

2,63,57,600.00

1.14

9,80,375

31,77,625.00

0.31

1,64,95,000

2,82,30,500.00

0.58

27,38,700

83,37,225.00

0.33

1,01,600

3,14,325.00

0.32

1,92,150

5,35,050.00

0.36

10,47,500

70,22,500.00

0.15

32,18,600

1,00,83,300.00

0.32

2,68,600

5,71,200.00

0.47

5,50,125

9,82,375.00

0.56

2,68,100

8,33,700.00

0.32

1,82,650

4,42,000.00

0.41

1,68,88,000

3,36,88,000.00

0.50

56,175

2,29,950.00

0.24

1,14,250

5,22,000.00

0.22

43,62,400

29,25,300.00

1.49

14,65,800

1,02,64,800.00

0.14

48,04,800

1,13,37,300.00

0.42

12,85,200

33,89,400.00

0.38

4,96,800

7,72,700.00

0.64

1,24,500

4,11,750.00

0.30

16,08,775

23,62,050.00

0.68

2,15,700

4,49,400.00

0.48

10,005

28,575.00

0.35

1,08,90,000

2,35,73,250.00

0.46

9,78,600

22,28,800.00

0.44

89,850

1,88,550.00

0.48

3,35,650

4,31,200.00

0.78

93,68,750

3,19,43,750.00

0.29

1,23,13,500

3,15,57,000.00

0.39

2,21,94,000

4,86,27,000.00

0.46

59,26,400

2,42,30,400.00

0.24

4,74,750

10,33,000.00

0.46

18,76,500

49,49,100.00

0.38

10,07,500

39,06,500.00

0.26

4,93,125

10,66,125.00

0.46

97,50,000

1,57,91,250.00

0.62

1,86,175

3,93,250.00

0.47

2,63,175

3,63,000.00

0.73

41,69,700

85,07,500.00

0.49

3,28,000

7,62,400.00

0.43

5,55,200

6,29,600.00

0.88

13,71,875

23,25,875.00

0.59

2,02,650

10,18,500.00

0.20

13,67,625

17,50,350.00

0.78

5,05,650

14,08,250.00

0.36

23,02,800

57,40,800.00

0.40

22,91,175

1,21,32,900.00

0.19

29,01,000

85,14,000.00

0.34

8,79,968

17,66,104.00

0.50

9,66,600

34,09,000.00

0.28

24,59,050

76,52,550.00

0.32

2,15,100

3,57,150.00

0.60

68,49,170

1,41,75,774.00

0.48

6,16,175

21,89,250.00

0.28

4,01,400

20,67,300.00

0.19

5,55,100

19,36,900.00

0.29

7,20,000

14,78,000.00

0.49

1,36,06,800

2,19,52,100.00

0.62

2,42,000

6,68,400.00

0.36

28,76,000

42,02,400.00

0.68

1,18,800

7,11,000.00

0.17

1,64,850

3,80,800.00

0.43

3,84,200

21,01,500.00

0.18

70,65,275

2,12,79,250.00

0.33

7,47,500

23,08,750.00

0.32

34,20,900

46,84,500.00

0.73

30,46,000

76,69,000.00

0.40

1,62,350

5,33,800.00

0.30

3,48,31,700

8,66,13,950.00

0.40

23,82,500

37,80,000.00

0.63

1,13,02,400

2,30,16,000.00

0.49

50,57,500

86,53,000.00

0.58

35,91,450

1,04,12,100.00

0.34

26,53,000

1,04,14,250.00

0.25

14,94,400

64,79,625.00

0.23

2,06,35,875

4,68,82,875.00

0.44

7,48,200

16,67,325.00

0.45

37,94,800

80,80,800.00

0.47

21,30,100

62,15,200.00

0.34

22,40,000

66,28,300.00

0.34

5,30,250

15,14,850.00

0.35

1,18,000

3,19,000.00

0.37

36,04,000

78,30,000.00

0.46

15,42,750

35,97,000.00

0.43

33,24,750

80,52,000.00

0.41

5,91,30,000

13,16,66,250.00

0.45

1,26,32,550

2,71,66,475.00

0.47

1,52,95,650

16,31,77,425.00

0.09

25,41,900

98,81,775.00

0.26

1,14,400

2,01,825.00

0.57

81,85,800

1,46,90,200.00

0.56

33,66,075

81,22,425.00

0.41

2,43,11,350

2,37,76,025.00

1.02

47,94,900

1,38,27,600.00

0.35

60,10,200

68,20,200.00

0.88

3,53,51,000

4,22,54,250.00

0.84

1,80,23,600

2,36,50,200.00

0.76

19,73,700

1,50,73,650.00

0.13

5,68,650

17,60,850.00

0.32

18,38,100

53,83,400.00

0.34

85,23,350

1,38,35,800.00

0.62

2,26,500

7,96,050.00

0.28

49,85,050

79,32,050.00

0.63

17,67,000

19,25,000.00

0.92

14,57,100

36,48,300.00

0.40

2,75,250

9,94,500.00

0.28

4,95,575

8,68,600.00

0.57

17,62,750

23,41,900.00

0.75

32,73,500

66,44,500.00

0.49

5,36,09,850

18,60,30,225.00

0.29

13,65,000

35,93,625.00

0.38

2,56,78,800

4,69,50,750.00

0.55

3,85,175

10,16,025.00

0.38

42,05,000

1,05,00,000.00

0.40

10,89,000

29,95,200.00

0.36

82,86,225

1,24,25,700.00

0.67

3,58,750

6,13,725.00

0.58

35,78,125

47,51,250.00

0.75

2,54,400

6,89,100.00

0.37

30,34,350

76,81,575.00

0.40

13,52,450

45,46,750.00

0.30

3,04,800

7,67,700.00

0.40

85,94,650

2,32,93,950.00

0.37

65,000

1,47,875.00

0.44

1,18,40,000

2,91,07,500.00

0.41

2,57,550

6,69,800.00

0.38

7,81,600

34,14,800.00

0.23

7,95,600

23,54,400.00

0.34

30,90,000

1,04,48,750.00

0.30

1,73,475

7,53,525.00

0.23

7,90,125

17,23,125.00

0.46

38,82,600

1,21,35,150.00

0.32

12,40,875

24,54,000.00

0.51

13,79,375

38,58,125.00

0.36

5,72,850

12,99,600.00

0.44

8,72,100

16,88,100.00

0.52

5,98,125

27,94,875.00

0.21

18,33,975

53,81,275.00

0.34

1,01,31,750

1,65,17,250.00

0.61

2,54,850

9,21,000.00

0.28

3,78,300

11,12,800.00

0.34

1,95,31,125

3,92,79,000.00

0.50

1,65,125

3,65,875.00

0.45

70,68,525

99,12,525.00

0.71

2,02,025

8,05,900.00

0.25

2,94,125

9,06,100.00

0.32

90,77,500

1,75,85,000.00

0.52

1,37,49,750

3,83,80,125.00

0.36

26,62,375

53,31,875.00

0.50

9,70,500

21,59,500.00

0.45

1,52,73,150

2,89,27,500.00

0.53

5,80,775

19,55,525.00

0.30

19,18,800

72,54,000.00

0.26

81,90,000

1,27,67,625.00

0.64

43,59,600

1,49,00,400.00

0.29

1,45,200

2,21,700.00

0.65

1,02,12,000

2,57,77,500.00

0.40

19,70,000

39,75,000.00

0.50

2,04,825

4,65,900.00

0.44

46,66,875

1,14,10,625.00

0.41

29,65,050

49,25,250.00

0.60

6,61,000

13,02,000.00

0.51

2,90,500

11,97,875.00

0.24

2,02,725

7,45,450.00

0.27

87,46,000

2,24,18,250.00

0.39

35,57,500

44,65,000.00

0.80

7,28,375

9,65,125.00

0.75

3,28,650

5,55,100.00

0.59

16,70,500

46,04,000.00

0.36

10,59,450

28,77,000.00

0.37

54,000

1,54,800.00

0.35

76,125

1,70,625.00

0.45

13,78,450

31,97,700.00

0.43

14,40,000

46,23,600.00

0.31

13,29,600

31,46,700.00

0.42

11,46,825

54,81,000.00

0.21

3,85,500

13,56,900.00

0.28

29,40,600

1,77,19,000.00

0.17

26,16,400

57,56,700.00

0.45

1,84,500

10,52,250.00

0.18

4,22,675

12,58,750.00

0.34

1,57,500

2,52,500.00

0.62

Note: Volume Figures are in Thousands

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What is the Put Call Ratio?

The PCR is a common technical indicator used to measure the traded volume for put options in comparison with call options. The usage of PCR facilitates the analysis of the market's sentiment and further possible movements in prices. With higher values of PCR, a bearish market arises. Low PCR or very low PCR signals the formation of a bull market. In this way, the PCR explains the amount of optimism or pessimism present in the market.

How is PCR Calculated?

PCR can be calculated in two ways:

Based on open interests of a given day
The PCR ratio is the total sum of outstanding open interest in put options for a selected security or market divided by the total of outstanding open interest in call options for that given market. Open interest is said to be the total sum of options contracts remaining unexercised and also those that did not expire.

Formula
PCR = Total open interest of put options / Total open interest of call options

Example
Assume we need to determine the put call ratio for "ABC Ltd," traded on the NSE. Total open interest for put options on ABC Ltd: 2,000 contracts. The total open interest for call options on XYZ Ltd: 5,000 contracts.
Using the formula: PCR = 2,000 (Put options) / 5,000 (Call options) = 0.4
So, the put-call ratio for ABC Ltd is 0.4.

According to the trading volume of a given day
The PCR ratio can also be derived by using the investing volume of put options and call options on a given day. This brings one nearer to getting an idea about the prevailing market mood through the trading volume that takes place during that particular day.

Formula
PCR = Total trading volume of Put options / Total trading volume of Call options

Example
Let us take the trading volume of any day of "ABC Ltd." in the BSE. The total trading volume of put options on ABC Ltd is 4,000 contracts, and the total trading volume of call options on ABC Ltd is 16,000 contracts.
By using this formula: PCR = 4,000 (Put options) / 16,000 (Call options) = 0.25
So, the PCR for ABC Ltd on that particular date is 0.25.

How to Analyse PCR (Put Call Ratio)

Here's a breakdown of PCR analysis depending on different scenarios:

  • Scenario: The Nifty PCR rises as small declines are bought into an upward-rising market
    Signal: Positive
    Interpretation: It means that the upswing is expected to continue as put writers are actively engaged in writing during dips.
  • Scenario: The PCR falls low as markets are gauging the levels of resistance
    Signal: Bearish
    Interpretation: It reflects that call writers are opening fresh positions expecting either a market pullback or restricted upside.
  • Scenario: The PCR is dropping in a declining market
    Signal: Bearish
    Interpretation: This means that option writers are selling call option strikes aggressively.

How to Trade Using a Put-Call Ratio

The rules and guidelines for PCR trading are as follows:

  • Identify Extremes: Look at the historical PCR values where the ratio reaches extreme values. Extreme peaks often mark overbought bearishness, which is typically taken back with a bullish reversal. Downside extremes may mark overbought bullishness, which is often taken back through the market pullback.
  • Use the PCR in Combination with Other Indicators: Most traders prefer to use PCR technically combined with other technical indicators. They tend to combine PCR either with moving averages or with the Relative Strength Index (RSI) in order to confirm the signals arising from PCR. This happens mainly to eliminate false interpretations and enhance strong trading decisions.
  • Market Context: Always look at the broader market context. If the PCR is high for an extended period of a downtrend, it may only be extending the bearish outlook. Conversely, this level of PCR in a sideways market might only suggest an oversold state.

Why is PCR Important?

PCR is one of the most significant measures that traders use when gauging market sentiment. The PCR live helps traders identify the underlying price movement of the security and guides them through placing directional bets on equities. As a contrarian signal, it helps traders avoid the pitfall of herd mentality. Another way in which the Put/call ratio is used to study overall trading activity by market players is that it measures in terms of both open interest and volume.

Advantages of Put Call Ratio

  • Market Sentiment: PCR captures a snapshot of market sentiment and helps to trade towards a bullish or bearish interpretation from the market perspective.
  • Contrarian Indicator: It behaves as a contrarian sign. An extremely high or low PCR may indicate the approach of mood change in the market or an upbeat or depressive attitude.
  • Risk Management: Tracking PCR helps traders understand risks and make better decisions. A bearish PCR may lead to protective action, whereas a bullish PCR encourages greater risk-taking activities.
  • Volatility Indicator: As many traders and investors are buying put options as some form of hedging against the negative risks that may prevail, a higher rise in PCR is generally linked with increased market volatility.
  • Leading Indicator: The PCR can sometimes act as a leading indicator when extreme levels are reached.

Disadvantages of Put Call Ratio

  • Subjective Interpretation: The determination of what constitutes an "extreme" level would be subjective and may vary from trader to trader.
  • False Signals: As with any indicator, the PCR can produce false signals, especially if used without any other technical or fundamental analysis metrics.
  • Lagging Nature: The PCR reflects previously traded option activity that doesn't necessarily translate into near-term price movement.
  • Market Context Dependence: The relevance of the readings might depend on the range, trend, or reversal stage that the market finds itself in.

4 Ways to Interpret 'Nifty Put Call Ratio Live Chart' and Nifty Spot Correlation

  • Trend Confirmation: A positive PCR amplified by increasing Nifty spot price would confirm that the bull trend is not over yet.
  • Reversal Signal: An extremely high PCR accompanied by a falling Nifty spot price could be a hint that the market is oversold and due for a reversal.
  • Bearish Divergence: When the PCR goes upwards, in contrast, the Nifty prices do not move up or go down, which indicates that more bullish sentiment turns bearish.
  • Bullish Divergence: It is a situation in which the PCR goes down, but the Nifty spot price shows as steady or rising. This might reflect that bearish sentiment is dropping, and bullish momentum may start rising.

Interpretation of PCR

  • PCR < 1: It suggests that more open call contracts are present than put contracts. It also means a bullish market sentiment where traders and investors believe the price of the underlying asset will rise.
  • PCR > 1: If PCR is greater than 1, then the number of put contracts is higher compared to the number of call contracts, and hence, it portrays a bearish market psychology. The traders, as well as investors, think that the value of the underlying asset will go down.
  • PCR = 1: When the PCR stands about 1, this usually indicates market opinion is fairly neutral since there is little crowd psychology geared toward shorting or longing, and a greater number of investors and traders have equally bullish and bearish opinions.

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FAQs

What constitutes a high PCR?

downArrow

A high PCR is typically above 1.0, meaning that the number of put options traded is higher than the call options.

What does a Put Call Ratio greater than one indicate?

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If the PCR is more than one, it then means that there have been more purchases of puts than calls by the traders, which means that the current market situation is bearish.

What is the ideal PCR ratio?

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It's likely that market volatility, earnings reports, economic events, and general market sentiment would all impact PCR.

What factors can affect the PCR ratio?

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It's likely that market volatility, earnings reports, economic events, and general market sentiment would all impact PCR.

Is a high put-call ratio good?

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It depends on perspective. A high PCR may indicate excessive bearishness, which contrarian traders may see as a bullish signal.

What is a bullish put-call ratio?

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A low PCR, generally below 0.7, is considered bullish as it reflects higher call option trading.

Is the put-call ratio a reliable measure to forecast future market conditions?

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While PCR can provide insights, it should be used alongside other indicators and analysis for more reliable forecasting.

How can I determine PCR results?

downArrow

PCR results can be tracked using financial data platforms that provide real-time options trading volumes and comprehensive charts.

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