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.

MCX

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.

Multi Commodity Exchange

10175 -11.00 (-0.11%)

L: 10012 H: 10230

Put-Call Ratio - MCX

16 Dec 2025 12:05 PM IST

Live

Expiry

Put OI

15,322

Call OI

23,092

PCR

0.66

Put OI Chg

671

Call OI Chg

969

COI PCR

0.69

COI Strength

-0.18

Interval

On 9:30 MCX was trading at 10127 with pcr value 0.66

On 9:45 MCX was trading at 10140 with pcr value 0.66

On 10:00 MCX was trading at 10112 with pcr value 0.66

On 10:15 MCX was trading at 10062 with pcr value 0.65

On 10:30 MCX was trading at 10021 with pcr value 0.64

On 10:45 MCX was trading at 10052 with pcr value 0.64

On 11:00 MCX was trading at 10093 with pcr value 0.65

On 11:15 MCX was trading at 10180 with pcr value 0.65

On 11:30 MCX was trading at 10188 with pcr value 0.66

On 11:45 MCX was trading at 10186 with pcr value 0.67

On 12:00 MCX was trading at 10190 with pcr value 0.67

On 12:06 MCX was trading at 10164 with pcr value 0.66

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	2,056	3,251	0.63	-19	-29	0.66
ABB	5,408	6,680	0.81	-83	-15	5.53
ABCAPITAL	4,858	7,639	0.64	-58	-118	0.49
ADANIENSOL	3,534	5,351	0.66	-133	14	-9.50
ADANIENT	26,602	44,232	0.60	-592	816	-0.73
ADANIGREEN	11,131	19,635	0.57	83	626	0.13
ADANIPORTS	9,239	17,975	0.51	40	351	0.11
ALKEM	1,242	1,730	0.72	76	12	6.33
AMBER	7,082	10,613	0.67	-43	81	-0.53
AMBUJACEM	8,744	10,697	0.82	-442	198	-2.23
ANGELONE	7,695	17,565	0.44	-33	72	-0.46
APLAPOLLO	2,427	2,846	0.85	-67	9	-7.44
APOLLOHOSP	7,796	15,795	0.49	239	743	0.32
ASHOKLEY	12,297	13,470	0.91	523	1,013	0.52
ASIANPAINT	17,429	33,634	0.52	80	-1,017	-0.08
ASTRAL	4,602	7,971	0.58	496	231	2.15
AUBANK	6,430	7,577	0.85	-204	-27	7.56
AUROPHARMA	4,445	10,261	0.43	-201	132	-1.52
AXISBANK	19,952	48,412	0.41	5,595	19,140	0.29
BAJAJ-AUTO	14,806	28,665	0.52	427	976	0.44
BAJAJFINSV	13,475	19,533	0.69	116	413	0.28
BAJFINANCE	22,649	39,305	0.58	119	1,204	0.10
BANDHANBNK	7,666	11,442	0.67	-2	-6	0.33
BANKBARODA	12,304	17,066	0.72	187	952	0.20
BANKINDIA	3,349	4,675	0.72	25	52	0.48
BDL	8,945	20,163	0.44	1,407	2,204	0.64
BEL	27,098	61,732	0.44	527	2,023	0.26
BHARATFORG	4,198	6,966	0.60	28	150	0.19
BHARTIARTL	19,892	41,236	0.48	1,027	645	1.59
BHEL	9,089	18,028	0.50	-67	504	-0.13
BIOCON	6,461	12,802	0.50	65	278	0.23
BLUESTARCO	1,331	1,761	0.76	-52	47	-1.11
BOSCHLTD	1,598	3,244	0.49	55	237	0.23
BPCL	5,671	9,071	0.63	41	1,013	0.04
BRITANNIA	6,884	9,372	0.73	1,067	1,736	0.61
BSE	18,234	37,804	0.48	147	4,062	0.04
CAMS	4,345	7,544	0.58	-43	126	-0.34
CANBK	12,159	16,083	0.76	123	455	0.27
CDSL	9,586	21,818	0.44	-35	203	-0.17
CGPOWER	4,726	8,932	0.53	-40	56	-0.71
CHOLAFIN	3,643	5,716	0.64	18	417	0.04
CIPLA	10,072	15,036	0.67	44	278	0.16
COALINDIA	12,548	13,450	0.93	-58	428	-0.14
COFORGE	8,789	21,123	0.42	107	-232	-0.46
COLPAL	6,476	10,575	0.61	50	1,143	0.04
CONCOR	7,728	9,984	0.77	26	142	0.18
CROMPTON	6,412	11,785	0.54	12	71	0.17
CUMMINSIND	3,591	4,515	0.80	67	129	0.52
CYIENT	1,991	2,928	0.68	0	6	0.00
DABUR	5,690	11,138	0.51	470	791	0.59
DALBHARAT	2,908	3,874	0.75	-201	-415	0.48
DELHIVERY	3,855	6,112	0.63	21	343	0.06
DIVISLAB	6,555	9,141	0.72	13	55	0.24
DIXON	36,842	63,023	0.58	-450	3,685	-0.12
DLF	16,584	26,051	0.64	-79	366	-0.22
DMART	7,828	15,130	0.52	709	2,266	0.31
DRREDDY	5,465	10,821	0.51	-126	-18	7.00
EICHERMOT	11,415	16,159	0.71	295	205	1.44
ETERNAL	18,629	37,394	0.50	1,020	9,047	0.11
EXIDEIND	4,031	5,730	0.70	22	181	0.12
FEDERALBNK	8,267	8,064	1.03	-510	205	-2.49
FORTIS	3,655	9,211	0.40	51	-226	-0.23
GAIL	13,412	20,764	0.65	-56	171	-0.33
GLENMARK	7,997	10,704	0.75	146	271	0.54
GMRAIRPORT	10,913	19,226	0.57	-52	790	-0.07
GODREJCP	4,487	6,218	0.72	1,394	2,233	0.62
GODREJPROP	6,701	11,325	0.59	63	362	0.17
GRASIM	9,570	8,434	1.13	15	-124	-0.12
HAL	27,895	56,268	0.50	124	3,446	0.04
HAVELLS	3,611	4,687	0.77	43	-17	-2.53
HCLTECH	11,401	19,976	0.57	-99	688	-0.14
HDFCAMC	4,606	6,194	0.74	285	499	0.57
HDFCBANK	42,455	64,578	0.66	1,116	855	1.31
HDFCLIFE	7,851	18,129	0.43	226	652	0.35
HEROMOTOCO	13,156	18,372	0.72	401	122	3.29
HFCL	4,941	12,230	0.40	36	-158	-0.23
HINDALCO	15,700	21,329	0.74	-1,244	11	-113.09
HINDPETRO	3,908	6,615	0.59	-123	216	-0.57
HINDUNILVR	10,263	19,890	0.52	-434	-259	1.68
HINDZINC	24,656	35,534	0.69	-1,062	567	-1.87
HUDCO	6,289	14,287	0.44	24	157	0.15
ICICIBANK	31,890	50,630	0.63	729	734	0.99
ICICIGI	3,127	5,548	0.56	-36	11	-3.27
ICICIPRULI	2,462	4,860	0.51	50	275	0.18
IDEA	15,427	26,540	0.58	323	-350	-0.92
IDFCFIRSTB	9,962	12,551	0.79	-22	-58	0.38
IEX	8,401	11,682	0.72	-43	-226	0.19
IIFL	2,624	4,606	0.57	-2	409	-0.00
INDHOTEL	5,809	8,993	0.65	94	541	0.17
INDIANB	4,855	12,176	0.40	89	806	0.11
INDIGO	52,701	1,10,979	0.47	-127	-1,797	0.07
INDUSINDBK	12,498	18,574	0.67	121	852	0.14
INDUSTOWER	8,842	15,761	0.56	-76	-55	1.38
INFY	38,565	61,790	0.62	-1,976	720	-2.74
INOXWIND	7,150	13,992	0.51	-83	132	-0.63
IOC	7,417	12,686	0.58	666	1,494	0.45
IRCTC	7,334	11,180	0.66	101	115	0.88
IREDA	4,983	10,176	0.49	69	-136	-0.51
IRFC	4,457	9,402	0.47	-14	246	-0.06
ITC	23,592	34,340	0.69	-1,325	107	-12.38
JINDALSTEL	5,559	8,785	0.63	118	756	0.16
JIOFIN	17,956	25,513	0.70	-194	868	-0.22
JSWENERGY	10,518	15,709	0.67	-516	312	-1.65
JSWSTEEL	14,227	28,129	0.51	-93	990	-0.09
JUBLFOOD	6,388	8,977	0.71	404	908	0.44
KALYANKJIL	4,780	8,994	0.53	41	273	0.15
KAYNES	31,400	77,720	0.40	483	473	1.02
KEI	2,174	3,512	0.62	-65	22	-2.95
KFINTECH	4,217	6,783	0.62	154	28	5.50
KOTAKBANK	18,850	21,189	0.89	406	405	1.00
KPITTECH	3,478	6,236	0.56	119	680	0.17
LAURUSLABS	5,229	10,078	0.52	4	537	0.01
LICHSGFIN	7,567	10,118	0.75	-32	185	-0.17
LICI	6,540	12,272	0.53	52	512	0.10
LODHA	4,397	10,321	0.43	-213	346	-0.62
LT	18,623	32,645	0.57	-644	261	-2.47
LTF	5,017	8,050	0.62	-9	-31	0.29
LTIM	4,448	5,643	0.79	-19	-8	2.38
LUPIN	5,138	6,844	0.75	25	283	0.09
M&M	17,793	33,205	0.54	368	-474	-0.78
MANAPPURAM	3,799	5,349	0.71	-64	-97	0.66
MANKIND	2,374	4,730	0.50	17	250	0.07
MARICO	3,195	4,991	0.64	476	775	0.61
MARUTI	30,991	31,268	0.99	-656	-342	1.92
MAXHEALTH	5,107	10,114	0.50	30	263	0.11
MAZDOCK	10,183	22,144	0.46	211	825	0.26
MCX	15,322	23,092	0.66	671	969	0.69
MFSL	2,496	4,400	0.57	114	312	0.37
MOTHERSON	7,575	9,274	0.82	-20	-104	0.19
MPHASIS	3,524	4,862	0.72	-210	69	-3.04
MUTHOOTFIN	6,420	12,058	0.53	77	66	1.17
NATIONALUM	6,688	7,920	0.84	-238	-62	3.84
NAUKRI	5,972	7,349	0.81	81	227	0.36
NBCC	3,306	6,846	0.48	-149	196	-0.76
NCC	3,832	8,810	0.43	51	118	0.43
NESTLEIND	4,382	13,834	0.32	240	32	7.50
NHPC	3,222	7,024	0.46	24	239	0.10
NMDC	10,055	12,769	0.79	-360	-65	5.53
NTPC	14,006	22,575	0.62	-609	515	-1.18
NUVAMA	2,136	4,057	0.53	38	7	5.43
NYKAA	2,607	6,913	0.38	50	378	0.13
OBEROIRLTY	3,526	5,635	0.63	-58	-64	0.91
OFSS	7,085	9,528	0.74	-730	525	-1.39
OIL	2,441	4,456	0.55	13	125	0.10
ONGC	11,011	26,052	0.42	-541	180	-3.01
PAGEIND	3,458	7,596	0.46	-11	130	-0.08
PATANJALI	3,908	8,644	0.45	53	18	2.94
PAYTM	7,565	12,418	0.61	-91	574	-0.16
PERSISTENT	6,477	10,746	0.60	-137	312	-0.44
PETRONET	8,622	8,464	1.02	-8	97	-0.08
PFC	20,790	36,412	0.57	199	2,460	0.08
PGEL	7,853	12,486	0.63	-170	557	-0.31
PHOENIXLTD	1,684	3,384	0.50	-126	26	-4.85
PIDILITIND	2,035	2,639	0.77	45	8	5.63
PIIND	3,619	5,899	0.61	-20	-56	0.36
PNB	11,490	22,298	0.52	84	664	0.13
PNBHOUSING	7,293	11,697	0.62	-101	-291	0.35
POLICYBZR	6,106	8,583	0.71	1,096	2,014	0.54
POLYCAB	4,074	6,067	0.67	-1	372	-0.00
POWERGRID	10,878	17,445	0.62	10	212	0.05
POWERINDIA	4,149	10,788	0.38	-53	69	-0.77
PPLPHARMA	2,827	7,262	0.39	65	345	0.19
PRESTIGE	2,708	4,069	0.67	13	202	0.06
RBLBANK	4,815	7,746	0.62	147	374	0.39
RECLTD	21,865	34,381	0.64	178	1,226	0.15
RELIANCE	49,117	98,384	0.50	-1,039	3,164	-0.33
RVNL	6,299	12,196	0.52	-50	378	-0.13
SAIL	5,924	10,690	0.55	95	596	0.16
SAMMAANCAP	6,523	12,084	0.54	287	320	0.90
SBICARD	4,727	7,388	0.64	184	658	0.28
SBILIFE	6,623	11,827	0.56	488	137	3.56
SBIN	40,074	66,776	0.60	-202	2,061	-0.10
SHREECEM	2,193	4,448	0.49	257	1,003	0.26
SHRIRAMFIN	12,683	21,149	0.60	156	72	2.17
SIEMENS	9,285	18,057	0.51	-349	268	-1.30
SOLARINDS	3,872	10,278	0.38	28	620	0.05
SONACOMS	2,575	5,765	0.45	-19	168	-0.11
SRF	7,148	9,794	0.73	391	956	0.41
SUNPHARMA	6,336	19,358	0.33	-619	-527	1.17
SUPREMEIND	5,373	8,711	0.62	1,567	1,004	1.56
SUZLON	10,535	23,828	0.44	203	379	0.54
SYNGENE	1,516	2,778	0.55	-50	-27	1.85
TATACONSUM	5,206	10,663	0.49	343	956	0.36
TATAELXSI	5,554	14,750	0.38	-45	307	-0.15
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,444	26,731	0.73	-54	599	-0.09
TATASTEEL	15,565	26,610	0.58	-805	602	-1.34
TATATECH	4,655	7,472	0.62	51	47	1.09
TCS	37,475	49,411	0.76	-949	1,341	-0.71
TECHM	7,432	9,600	0.77	26	23	1.13
TIINDIA	4,699	7,794	0.60	-34	276	-0.12
TITAGARH	2,619	5,148	0.51	51	136	0.38
TITAN	12,920	21,144	0.61	883	509	1.73
TMPV	40,648	87,803	0.46	554	366	1.51
TORNTPHARM	1,169	2,620	0.45	42	160	0.26
TORNTPOWER	2,040	2,957	0.69	-35	167	-0.21
TRENT	26,688	50,571	0.53	167	1,495	0.11
TVSMOTOR	9,572	9,625	0.99	184	100	1.84
ULTRACEMCO	11,241	17,854	0.63	-268	644	-0.42
UNIONBANK	5,654	8,303	0.68	-25	57	-0.44
UNITDSPR	6,511	8,525	0.76	-19	-50	0.38
UNOMINDA	2,871	5,169	0.56	199	181	1.10
UPL	4,722	6,794	0.70	-109	159	-0.69
VBL	10,070	23,157	0.43	299	391	0.76
VEDL	29,923	36,376	0.82	1,574	2,646	0.59
VOLTAS	6,397	7,623	0.84	-122	84	-1.45
WIPRO	10,806	13,718	0.79	-178	-199	0.89
YESBANK	6,417	13,214	0.49	1	188	0.01
ZYDUSLIFE	3,343	4,819	0.69	50	362	0.14

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.

Related Pages for MCX

MCX

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

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