Option Triggers
Max-OI strikes • PCRAbout the Option Triggers Screener
Option Triggers is a cross-sectional view of where the entire NSE F&O market has stacked its open-interest weight right now. For every index and F&O stock you get one row — the call strike with the most OI (the resistance the market is defending), the put strike with the most OI (the support the market is leaning on), the day's OI change on both sides, the put-call ratio, and the live monthly futures price. Instead of opening 200 option chains to figure out where price is likely to react, the table gives you the answer for the whole universe in one screen.
Read the table in three passes. First, look at the pair of max-OI strikes for each symbol — they bracket the implied range for the current expiry. Price between them is positioned to mean-revert; price approaching either edge is more likely to break or bounce. Second, look at the OI change columns. Static OI tells you where positions are; the change tells you whether writers are adding (defending more strongly) or unwinding (giving up). A max call OI strike that's gaining OI all day is a defended ceiling; one that's bleeding OI is a level the market is starting to walk away from. Third, scan PCR. Above 1 means more puts than calls are open — defensive positioning. Below 1 means call dominance. Extremes either way are often contrarian.
Reading the Fut→Strike % columns
The Fut→Call% and Fut→Put% columns show how far the monthly futures price is from each max-OI strike, in percent. Positive numbers mean the strike is above the future; negative numbers mean it's below. Small positive Fut→Call% (under 1%) means price is hugging the call wall — a break above often triggers a short-covering move because call writers above that strike are forced to hedge. Small negative Fut→Put% means price is sitting on the put floor; a break below typically forces put writers to cut, accelerating the move. These columns are how you anticipate which symbols are closest to a triggered move, rather than reacting after the fact.
Combining with the rest of the toolkit
Use Option Triggers as the discovery layer. Once a symbol's OI shift or PCR catches your eye, drill into the full Option Chain for strike-by-strike depth, PCR Trend for whether today's reading is a regime shift or noise, and OI Crossover for intraday timing on call/put dominance flips.
Frequently Asked Questions
What is the Option Triggers screener?
A single live table that shows, for every NSE index and F&O stock, the strike with the highest call open interest, the strike with the highest put open interest, the monthly futures price, and the put-call ratio. Instead of opening 200 option chains to find where the market is leaning, you scan one screen and the max-OI strikes immediately reveal support, resistance and shifting bias across the universe.
What does the Max Call OI strike actually tell me?
It's the strike where call writers have stacked the most open positions. Because call writers are short calls, they benefit when price stays below that strike — so the strike behaves like a sticky resistance level. If price approaches it, you often see writers defend it; if it breaks decisively, those writers cover and the move tends to extend. The OI change column tells you whether writers are adding (defending more strongly) or unwinding (giving up on the level).
What does the Max Put OI strike tell me?
It's the strike where put writers have stacked the most open positions — the inverse of the call side. Put writers want price to stay above that strike, so it tends to act as support. The pair of strikes (max call OI and max put OI) brackets the market's expected range for the expiry: the call strike is the ceiling, the put strike is the floor. The Fut→Strike % columns show how far price needs to travel to test either edge.
How do I read the PCR column?
PCR is total put OI divided by total call OI for the underlying. Above 1 means more puts are open than calls — often a sign of hedging or bearish positioning, but extreme highs (1.5+) are commonly contrarian bullish because too many traders are short or hedged. Below 1 means call dominance, which can mean greed near tops. Read PCR in trend with the OI change columns — a falling PCR with rising call OI is a tell that the bias is flipping bullish even before price confirms.
Why does the OI change vs previous day matter?
Static OI numbers tell you where positions are stacked. The change tells you whether traders are adding to a level or unwinding it — which is the actionable bit. A max call OI strike that's seeing big additions today is a level the market is actively defending. A max put OI strike that's bleeding OI is a floor traders are walking away from. Strong positive %ΔOI on either side usually precedes a directional move.
How is this different from a full option chain?
An option chain shows you every strike for one underlying. Option Triggers shows you the single most important call strike, single most important put strike, and PCR for every underlying — across all NSE indices and F&O stocks in one table. It's the cross-sectional view: where do max-OI walls sit market-wide right now, which symbols are repricing them today, which PCRs are at extremes. Drill into the full chain only after the screener flags something interesting.
How often does the data refresh?
It refreshes live during market hours. The countdown badge in the header shows when the next refresh happens. OI changes are computed against the previous trading day's closing OI, so the %ΔOI column is meaningful from the open and only stabilises late in the session as positions settle.
How to use the Option Triggers screener
- Scan the indices first — The six NSE indices (Nifty, BankNifty, FinNifty, MidCpNifty, Sensex, BankEx) sort to the top by default. Their max-OI strikes are the day's reference ceiling and floor for the broader market — read these before drilling into stocks.
- Find shifting bias via OI change — Sort the Call %ΔOI or Put %ΔOI column descending. Names at the top are where writers are most aggressively adding positions today — these are the strongest fresh defences. Names near the bottom (most negative) are where writers are unwinding — those levels are eroding.
- Use Fut→Strike % to gauge breakout proximity — A small positive Fut→Call% (under ~1%) means price is hugging the call wall — a break above it often triggers short-covering. A small negative Fut→Put% means price is sitting on the put floor — a break below typically forces put writers to unwind.
- Filter PCR extremes — Sort PCR descending to find the most defensive (highest put OI) names — sometimes a contrarian-bullish setup. Sort ascending to find the most call-heavy, where greed may be peaking. Pair with the directional confirmation from the OI change columns.
- Drill into the option chain — Once Option Triggers flags a symbol worth watching, click through to the full Option Chain for strike-by-strike OI, premium and Greeks — the screener is the discovery layer; the chain is the execution layer.