What is Put-Call Ratio (PCR) and how do I interpret it?

PCR is the ratio of total Put Open Interest to Call Open Interest. High PCR (>1.2) indicates bullish sentiment as more puts provide support. Low PCR (<0.8) indicates bearish sentiment as more calls provide resistance. Neutral PCR (0.8-1.2) shows balanced market sentiment.

What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

How do I use PCR with price action?

Combine PCR with price for better signals. Use divergence trading when price and PCR move opposite. Look for confirmation when price and PCR align. Watch for extreme COI Strength values at support/resistance for reversal signals. Monitor sudden COI Strength shifts as they often precede intraday trend changes.

LUPIN

Q: What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

Q: What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

Q: How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

Q: What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

Lupin Limited

2087.3 -5.30 (-0.25%)

L: 2077.6 H: 2099.9

Put-Call Ratio - LUPIN

16 Dec 2025 03:22 PM IST

Live

Expiry

Put OI

5,103

Call OI

6,786

PCR

0.75

Put OI Chg

-10

Call OI Chg

225

COI PCR

-0.04

COI Strength

-1.00

Interval

On 9:30 LUPIN was trading at 2080.5 with pcr value 0.78

On 9:45 LUPIN was trading at 2094.5 with pcr value 0.76

On 10:00 LUPIN was trading at 2093.8 with pcr value 0.76

On 10:15 LUPIN was trading at 2089 with pcr value 0.76

On 10:30 LUPIN was trading at 2089.4 with pcr value 0.76

On 10:45 LUPIN was trading at 2086.2 with pcr value 0.76

On 11:00 LUPIN was trading at 2084.8 with pcr value 0.76

On 11:15 LUPIN was trading at 2092.2 with pcr value 0.76

On 11:30 LUPIN was trading at 2090 with pcr value 0.76

On 11:45 LUPIN was trading at 2089.5 with pcr value 0.76

On 12:00 LUPIN was trading at 2095.9 with pcr value 0.76

On 12:15 LUPIN was trading at 2093.7 with pcr value 0.75

On 12:30 LUPIN was trading at 2095.1 with pcr value 0.75

On 12:45 LUPIN was trading at 2099.2 with pcr value 0.76

On 13:00 LUPIN was trading at 2093.9 with pcr value 0.76

On 13:15 LUPIN was trading at 2091.2 with pcr value 0.75

On 13:30 LUPIN was trading at 2091.7 with pcr value 0.75

On 13:45 LUPIN was trading at 2094.3 with pcr value 0.75

On 14:00 LUPIN was trading at 2095.3 with pcr value 0.75

On 14:15 LUPIN was trading at 2091.3 with pcr value 0.75

On 14:30 LUPIN was trading at 2089.5 with pcr value 0.75

On 14:45 LUPIN was trading at 2085.9 with pcr value 0.75

On 15:00 LUPIN was trading at 2088.5 with pcr value 0.75

On 15:15 LUPIN was trading at 2091.6 with pcr value 0.75

On 15:23 LUPIN was trading at 2086.2 with pcr value 0.75

Put-Call-Ratio Table

PCR Table Expiry

Note:- click on symbol to see more detailed view

	PCR OI			COI PCR
Symbol	Put	Call	Ratio	Put	Call	Ratio
360ONE	2,012	3,235	0.62	-63	-45	1.40
ABB	5,367	6,399	0.84	-124	-296	0.42
ABCAPITAL	4,839	7,755	0.62	-77	-2	38.50
ADANIENSOL	3,409	5,658	0.60	-258	321	-0.80
ADANIENT	26,566	44,098	0.60	-628	682	-0.92
ADANIGREEN	10,394	19,597	0.53	-654	588	-1.11
ADANIPORTS	9,183	17,997	0.51	-16	373	-0.04
ALKEM	1,253	1,670	0.75	87	-48	-1.81
AMBER	7,021	10,297	0.68	-104	-235	0.44
AMBUJACEM	8,544	10,404	0.82	-642	-95	6.76
ANGELONE	7,615	18,321	0.42	-113	828	-0.14
APLAPOLLO	2,438	2,711	0.90	-56	-126	0.44
APOLLOHOSP	7,867	16,208	0.49	310	1,156	0.27
ASHOKLEY	12,526	12,894	0.97	752	437	1.72
ASIANPAINT	17,165	33,929	0.51	-184	-722	0.25
ASTRAL	4,466	7,975	0.56	360	235	1.53
AUBANK	6,404	7,518	0.85	-230	-86	2.67
AUROPHARMA	4,484	10,365	0.43	-162	236	-0.69
AXISBANK	25,056	57,865	0.43	10,699	28,593	0.37
BAJAJ-AUTO	14,948	27,382	0.55	569	-307	-1.85
BAJAJFINSV	14,206	20,451	0.69	847	1,331	0.64
BAJFINANCE	23,294	40,695	0.57	764	2,594	0.29
BANDHANBNK	7,653	11,416	0.67	-15	-32	0.47
BANKBARODA	12,291	16,815	0.73	174	701	0.25
BANKINDIA	3,328	4,695	0.71	4	72	0.06
BDL	8,361	20,730	0.40	823	2,771	0.30
BEL	27,160	61,745	0.44	589	2,036	0.29
BHARATFORG	4,270	6,870	0.62	100	54	1.85
BHARTIARTL	19,618	40,829	0.48	753	238	3.16
BHEL	8,956	17,960	0.50	-200	436	-0.46
BIOCON	6,473	13,032	0.50	77	508	0.15
BLUESTARCO	1,360	1,743	0.78	-23	29	-0.79
BOSCHLTD	1,615	3,210	0.50	72	203	0.35
BPCL	5,461	9,139	0.60	-169	1,081	-0.16
BRITANNIA	6,452	9,206	0.70	635	1,570	0.40
BSE	18,444	37,741	0.49	357	3,999	0.09
CAMS	4,334	7,288	0.59	-54	-130	0.42
CANBK	12,066	16,051	0.75	30	423	0.07
CDSL	9,582	21,950	0.44	-39	335	-0.12
CGPOWER	4,646	8,919	0.52	-120	43	-2.79
CHOLAFIN	3,621	5,658	0.64	-4	359	-0.01
CIPLA	10,110	15,469	0.65	82	711	0.12
COALINDIA	12,580	12,996	0.97	-26	-26	1.00
COFORGE	8,709	20,274	0.43	27	-1,081	-0.02
COLPAL	6,508	10,673	0.61	82	1,241	0.07
CONCOR	7,699	10,195	0.76	-3	353	-0.01
CROMPTON	6,357	11,749	0.54	-43	35	-1.23
CUMMINSIND	3,556	4,529	0.79	32	143	0.22
CYIENT	1,973	2,948	0.67	-18	26	-0.69
DABUR	5,912	11,193	0.53	692	846	0.82
DALBHARAT	2,889	3,820	0.76	-220	-469	0.47
DELHIVERY	3,891	6,356	0.61	57	587	0.10
DIVISLAB	6,585	9,069	0.73	43	-17	-2.53
DIXON	36,279	62,135	0.58	-1,013	2,797	-0.36
DLF	16,605	25,946	0.64	-58	261	-0.22
DMART	7,193	15,802	0.46	74	2,938	0.03
DRREDDY	5,406	10,748	0.50	-185	-91	2.03
EICHERMOT	11,162	16,029	0.70	42	75	0.56
ETERNAL	19,294	36,086	0.53	1,685	7,739	0.22
EXIDEIND	4,021	5,718	0.70	12	169	0.07
FEDERALBNK	8,312	7,974	1.04	-465	115	-4.04
FORTIS	3,613	8,790	0.41	9	-647	-0.01
GAIL	13,496	20,714	0.65	28	121	0.23
GLENMARK	8,138	10,910	0.75	287	477	0.60
GMRAIRPORT	10,891	19,504	0.56	-74	1,068	-0.07
GODREJCP	3,966	6,027	0.66	873	2,042	0.43
GODREJPROP	7,046	11,708	0.60	408	745	0.55
GRASIM	9,614	8,619	1.12	59	61	0.97
HAL	27,899	56,676	0.49	128	3,854	0.03
HAVELLS	3,550	4,714	0.75	-18	10	-1.80
HCLTECH	11,535	20,500	0.56	35	1,212	0.03
HDFCAMC	4,724	6,394	0.74	403	699	0.58
HDFCBANK	42,777	63,579	0.67	1,438	-144	-9.99
HDFCLIFE	7,612	19,127	0.40	-13	1,650	-0.01
HEROMOTOCO	13,041	18,417	0.71	286	167	1.71
HFCL	4,944	11,950	0.41	39	-438	-0.09
HINDALCO	15,433	21,183	0.73	-1,511	-135	11.19
HINDPETRO	3,883	6,842	0.57	-148	443	-0.33
HINDUNILVR	10,002	19,838	0.50	-695	-311	2.23
HINDZINC	24,169	33,586	0.72	-1,549	-1,381	1.12
HUDCO	6,248	14,260	0.44	-17	130	-0.13
ICICIBANK	32,152	50,490	0.64	991	594	1.67
ICICIGI	3,060	5,458	0.56	-103	-79	1.30
ICICIPRULI	2,364	4,762	0.50	-48	177	-0.27
IDEA	15,301	26,639	0.57	197	-251	-0.78
IDFCFIRSTB	9,841	12,627	0.78	-143	18	-7.94
IEX	8,434	11,560	0.73	-10	-348	0.03
IIFL	2,580	4,383	0.59	-46	186	-0.25
INDHOTEL	5,777	9,123	0.63	62	671	0.09
INDIANB	4,856	12,058	0.40	90	688	0.13
INDIGO	51,855	1,09,106	0.48	-973	-3,670	0.27
INDUSINDBK	12,621	18,487	0.68	244	765	0.32
INDUSTOWER	8,799	15,554	0.57	-119	-262	0.45
INFY	38,170	61,797	0.62	-2,371	727	-3.26
INOXWIND	7,224	13,921	0.52	-9	61	-0.15
IOC	7,264	12,736	0.57	513	1,544	0.33
IRCTC	7,335	10,999	0.67	102	-66	-1.55
IREDA	4,940	10,257	0.48	26	-55	-0.47
IRFC	4,535	9,459	0.48	64	303	0.21
ITC	22,002	34,312	0.64	-2,915	79	-36.90
JINDALSTEL	5,509	8,902	0.62	68	873	0.08
JIOFIN	18,012	25,645	0.70	-138	1,000	-0.14
JSWENERGY	10,302	15,195	0.68	-732	-202	3.62
JSWSTEEL	12,878	28,491	0.45	-1,442	1,352	-1.07
JUBLFOOD	6,798	9,694	0.70	814	1,625	0.50
KALYANKJIL	4,786	8,771	0.55	47	50	0.94
KAYNES	30,683	76,638	0.40	-234	-609	0.38
KEI	2,185	3,537	0.62	-54	47	-1.15
KFINTECH	4,253	6,726	0.63	190	-29	-6.55
KOTAKBANK	18,934	21,480	0.88	490	696	0.70
KPITTECH	3,538	6,500	0.54	179	944	0.19
LAURUSLABS	5,256	10,006	0.53	31	465	0.07
LICHSGFIN	7,599	10,069	0.75	0	136	0.00
LICI	6,307	12,096	0.52	-181	336	-0.54
LODHA	4,415	10,420	0.42	-195	445	-0.44
LT	18,503	32,251	0.57	-764	-133	5.74
LTF	4,988	7,866	0.63	-38	-215	0.18
LTIM	4,442	5,657	0.79	-25	6	-4.17
LUPIN	5,101	6,800	0.75	-12	239	-0.05
M&M	17,443	32,910	0.53	18	-769	-0.02
MANAPPURAM	3,741	5,358	0.70	-122	-88	1.39
MANKIND	2,412	4,979	0.48	55	499	0.11
MARICO	3,088	5,199	0.59	369	983	0.38
MARUTI	30,274	30,946	0.98	-1,373	-664	2.07
MAXHEALTH	5,059	10,164	0.50	-18	313	-0.06
MAZDOCK	10,247	22,183	0.46	275	864	0.32
MCX	15,238	22,968	0.66	587	845	0.69
MFSL	2,478	4,460	0.56	96	372	0.26
MOTHERSON	7,550	9,270	0.81	-45	-108	0.42
MPHASIS	3,511	4,747	0.74	-223	-46	4.85
MUTHOOTFIN	6,388	11,782	0.54	45	-210	-0.21
NATIONALUM	6,769	7,821	0.87	-157	-161	0.98
NAUKRI	5,972	7,130	0.84	81	8	10.13
NBCC	3,206	6,988	0.46	-249	338	-0.74
NCC	3,795	8,967	0.42	14	275	0.05
NESTLEIND	4,406	13,883	0.32	264	81	3.26
NHPC	3,216	7,007	0.46	18	222	0.08
NMDC	9,975	13,283	0.75	-440	449	-0.98
NTPC	13,473	22,808	0.59	-1,142	748	-1.53
NUVAMA	2,162	4,162	0.52	64	112	0.57
NYKAA	2,594	7,051	0.37	37	516	0.07
OBEROIRLTY	3,496	5,892	0.59	-88	193	-0.46
OFSS	7,027	9,445	0.74	-788	442	-1.78
OIL	2,466	4,549	0.54	38	218	0.17
ONGC	10,791	26,042	0.41	-761	170	-4.48
PAGEIND	3,365	7,936	0.42	-104	470	-0.22
PATANJALI	3,906	8,751	0.45	51	125	0.41
PAYTM	7,670	12,874	0.60	14	1,030	0.01
PERSISTENT	6,345	10,733	0.59	-269	299	-0.90
PETRONET	8,975	8,657	1.04	345	290	1.19
PFC	20,943	36,849	0.57	352	2,897	0.12
PGEL	7,785	12,097	0.64	-238	168	-1.42
PHOENIXLTD	1,668	3,422	0.49	-142	64	-2.22
PIDILITIND	1,941	2,564	0.76	-49	-67	0.73
PIIND	3,608	5,768	0.63	-31	-187	0.17
PNB	11,702	22,581	0.52	296	947	0.31
PNBHOUSING	7,296	11,952	0.61	-98	-36	2.72
POLICYBZR	6,117	8,604	0.71	1,107	2,035	0.54
POLYCAB	4,181	6,036	0.69	106	341	0.31
POWERGRID	10,806	17,482	0.62	-62	249	-0.25
POWERINDIA	4,098	10,949	0.37	-104	230	-0.45
PPLPHARMA	2,891	7,235	0.40	129	318	0.41
PRESTIGE	2,783	4,220	0.66	88	353	0.25
RBLBANK	4,794	7,713	0.62	126	341	0.37
RECLTD	22,309	35,191	0.63	622	2,036	0.31
RELIANCE	49,400	98,059	0.50	-756	2,839	-0.27
RVNL	6,418	12,388	0.52	69	570	0.12
SAIL	5,947	10,713	0.56	118	619	0.19
SAMMAANCAP	6,606	12,303	0.54	370	539	0.69
SBICARD	4,893	7,385	0.66	350	655	0.53
SBILIFE	6,450	12,108	0.53	315	418	0.75
SBIN	40,110	67,416	0.59	-166	2,701	-0.06
SHREECEM	2,313	5,848	0.40	377	2,403	0.16
SHRIRAMFIN	12,610	21,027	0.60	83	-50	-1.66
SIEMENS	8,973	17,969	0.50	-661	180	-3.67
SOLARINDS	4,009	10,563	0.38	165	905	0.18
SONACOMS	2,549	5,559	0.46	-45	-38	1.18
SRF	7,222	9,403	0.77	465	565	0.82
SUNPHARMA	6,562	20,040	0.33	-393	155	-2.55
SUPREMEIND	5,026	8,001	0.63	1,220	294	4.15
SUZLON	10,620	23,554	0.45	288	105	2.74
SYNGENE	1,428	2,806	0.51	-138	1	-138.00
TATACONSUM	5,135	10,286	0.50	272	579	0.47
TATAELXSI	5,505	14,876	0.37	-94	433	-0.22
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,543	27,038	0.72	45	906	0.05
TATASTEEL	15,544	26,259	0.59	-826	251	-3.29
TATATECH	4,658	7,527	0.62	54	102	0.53
TCS	37,707	49,096	0.77	-717	1,026	-0.70
TECHM	7,480	9,576	0.78	74	-1	-74.00
TIINDIA	4,710	7,776	0.61	-23	258	-0.09
TITAGARH	2,633	5,181	0.51	65	169	0.38
TITAN	14,528	21,380	0.68	2,491	745	3.34
TMPV	40,432	88,574	0.46	338	1,137	0.30
TORNTPHARM	1,138	2,637	0.43	11	177	0.06
TORNTPOWER	2,065	3,200	0.65	-10	410	-0.02
TRENT	26,669	50,137	0.53	148	1,061	0.14
TVSMOTOR	9,522	9,561	1.00	134	36	3.72
ULTRACEMCO	11,150	18,900	0.59	-359	1,690	-0.21
UNIONBANK	5,577	8,214	0.68	-102	-32	3.19
UNITDSPR	6,537	8,659	0.75	7	84	0.08
UNOMINDA	2,923	5,048	0.58	251	60	4.18
UPL	4,619	6,727	0.69	-212	92	-2.30
VBL	10,114	23,395	0.43	343	629	0.55
VEDL	37,515	41,386	0.91	9,166	7,656	1.20
VOLTAS	6,539	7,199	0.91	20	-340	-0.06
WIPRO	10,845	13,765	0.79	-139	-152	0.91
YESBANK	6,427	13,371	0.48	11	345	0.03
ZYDUSLIFE	3,427	4,891	0.70	134	434	0.31

Understanding PCR & COI Metrics

PCR (Put-Call Ratio)

PCR = Put OI / Call OI

> 1.2

Bullish

More puts than calls, potential support

0.8 - 1.2

Neutral

Balanced market sentiment

< 0.8

Bearish

More calls than puts, potential resistance

COI Strength

COI Strength = (PE COI - CE COI) / (|PE| + |CE|)

> 0.3

Bullish

Strong put buildup dominance

-0.3 to 0.3

Neutral

Balanced intraday activity

< -0.3

Bearish

Strong call buildup dominance

Frequently Asked Questions

PCR is the ratio of total Put Open Interest to Call Open Interest. It's a contrarian indicator of market sentiment:

High PCR (>1.2): More traders are holding puts, expecting a decline. However, this often acts as support (bullish) as market makers hedge by buying the underlying.
Low PCR (<0.8): More traders are holding calls, expecting a rise. This often acts as resistance (bearish) as market makers hedge by selling the underlying.
Neutral PCR (0.8-1.2): Balanced sentiment with no strong directional bias.

Remember: PCR is contrarian - extreme readings often signal reversals rather than continuation.

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change, making it more responsive than total OI PCR.

Key Differences:

Regular PCR: Uses total accumulated Open Interest. Shows overall market positioning but changes slowly.
COI PCR: Uses only today's OI changes. Captures fresh positioning and provides timely intraday signals.

Use Case: COI PCR helps identify intraday sentiment shifts before they reflect in total PCR, making it valuable for day traders and short-term positions.

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|)

This normalized indicator measures the directional bias of intraday Open Interest changes on a scale from -1 to +1:

> 0.3 (Bullish): Put side dominance - fresh put writing or buying suggests bullish positioning.
-0.3 to 0.3 (Neutral): Balanced activity on both sides - no clear directional conviction.
< -0.3 (Bearish): Call side dominance - fresh call writing or buying suggests bearish positioning.

Advantages over PCR:

Normalized scale (-1 to +1) makes comparison across symbols easier
Not affected by extreme ratios when one side is very small
Clearly shows which side has stronger intraday momentum

PCR data updates based on the selected interval:

1 Minute Interval: Updates every minute during market hours, providing real-time intraday tracking.
1 Day Interval: Shows end-of-day PCR values for historical analysis and trend identification.

Note: OI data comes from the exchange and may have a slight delay. Premium users get access to faster refresh rates and more granular intervals.

Negative PCR occurs when Call OI Change is negative (unwinding) while Put OI Change is also negative, or vice versa.

Common Scenarios:

PE > 0, CE < 0: Puts building, Calls unwinding → Strong bullish signal
PE < 0, CE > 0: Puts unwinding, Calls building → Strong bearish signal
Both negative: Both sides unwinding → Low conviction, neutral to ranging market

Tip: When PCR becomes negative or very large, use COI Strength instead - it handles these edge cases better and provides clearer directional signals.

Best Practices for Combining PCR with Price:

Divergence Trading: If price is falling but COI PCR shows put buildup (>1.2), it may signal a bounce. If price is rising but COI PCR shows call buildup (<0.8), it may signal resistance.
Confirmation: Use PCR to confirm price trends. Rising prices with increasing calls or falling prices with increasing puts suggests trend continuation.
Extremes: Very high COI Strength (>0.6 or <-0.6) combined with price at support/resistance can signal strong reversals.
Intraday Pivots: Watch for sudden COI Strength shifts (e.g., from +0.5 to -0.3) as they often precede intraday trend changes.

Remember: PCR is a sentiment indicator, not a timing tool. Always combine with technical analysis, support/resistance levels, and risk management.

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