Live Straddle & Strangle Option Chain 2026 — Nifty, Bank Nifty, Sensex & F&O Stocks
Nifty 50 (NIFTY) Straddle & Strangle Chain in Historical Mode
What can you learn from past NIFTY straddle data?
Historical mode loads the NIFTY option chain as it stood at any minute of any past trading day and rebuilds the straddle and strangle table from it. That turns the page into a back-testing tool. Pick a past expiry day for Nifty 50 and step through the morning to see how fast the ATM straddle decayed, or load the day before a major event to see how much premium the market was charging and compare it with the move that actually followed.
Checking whether NIFTY premiums were rich or cheap
Take the ATM straddle premium on a past date, note its Range %, then check how far NIFTY actually travelled by expiry. If the realised move was consistently smaller than the breakeven range, sellers were being paid well during that period. If the move regularly exceeded the range, buyers had the edge. Repeating this across several expiries of Nifty 50 gives you a feel for how the market prices this underlying, which is far more useful than a generic rule about selling or buying volatility.
Replaying a strangle trade minute by minute
Use the step buttons in historical mode to move forward in one minute, five minute or one hour jumps. Watch an OTM2 strangle row on NIFTY from the open to the close of a past session and you will see the combined premium decay on a quiet day or spike when the underlying approached one of the strikes. This is the fastest way to build intuition for how a short strangle on Nifty 50 feels in real time, without putting capital at risk.
Combining historical straddle data with OI
Open the regular option chain for the same past date alongside this table. The strikes with the heaviest call and put OI often act as the edges of the day's range, and the straddle and strangle breakevens tell you whether option prices agreed with that range. When breakevens were inside the OI walls and NIFTY stayed inside them too, short strangle sellers had an easy day. Finding those patterns in Nifty 50 history helps you recognise them live.
Nifty 50 (NIFTY) Straddle & Strangle Option Chain: Common Questions
Which ATM is used for the NIFTY straddle chain?
The ATM row follows the same setting as the main option chain: the strike closest to the spot price by default, or the strike closest to the futures or synthetic futures price if you have changed the ATM method in the option chain settings. For Nifty 50 the spot and futures ATM usually agree, but near expiry or when the futures carry a large premium they can differ by one strike, which shifts every OTM pair in the strangle view by one step as well.
How many strikes does the table show?
The number of rows above and below ATM follows the strikes around ATM setting from the option chain, so the NIFTY straddle view covers the same window you see in the chain. In strangle mode the same window applies to the call strike and the put strike mirrors it on the other side. The table scrolls to the ATM row when you load a symbol or change the expiry, so the most important row is always in view first.
Why does a NIFTY row show a dash instead of a premium?
A dash means one leg of the pair has no last traded price for this expiry, usually a far OTM strike that has not traded today or a newly listed strike. The combined premium is not shown rather than shown with one side missing, because a straddle or strangle price built from a single leg would be misleading. On liquid Nifty 50 expiries this only happens at the far ends of the table.
Can the straddle chain replace the option chain?
No, they answer different questions. The NIFTY option chain shows where positions sit through OI, volume and Greeks at each strike. The straddle and strangle chain shows what a two-legged neutral position costs and where it breaks even. Most traders use both: the chain to pick the levels that matter for Nifty 50, this table to price the position that trades around those levels. As a major Broad Market index on NSE, NIFTY has enough liquidity that the LTPs shown here are close to executable prices during market hours.
Nifty 50 (NIFTY) Straddle & Strangle Option Chain: Reading the Premium Ladder
What does the NIFTY straddle option chain show?
A normal option chain lists calls on one side and puts on the other and leaves the adding up to you. The NIFTY straddle option chain does that addition for every strike. Each row is one strike with its call LTP, its put LTP and the combined premium you would pay to buy both, or collect to sell both. The ATM row is highlighted because the ATM straddle is the single most watched number in Nifty 50 options: it is the market's own estimate of how far the underlying can travel before expiry. Rows above and below ATM show how quickly that combined premium changes as you move away from the current price.
How is the NIFTY strangle view different?
Switch the toggle to Strangle and the rows stop being single strikes and become strike pairs. OTM1 pairs the call one strike above ATM with the put one strike below, OTM2 pairs the next strike out on each side, and so on. ITM1 is the reverse pair, a call below ATM with a put above it, which traders call a guts strangle. The Strangle column is the combined premium of the pair. Reading down the OTM rows you can see exactly how much credit each extra strike of distance gives up, which is the core decision in building a short strangle on Nifty 50.
What do Lower BE, Upper BE and Range % mean?
Lower BE is the put strike minus the combined premium and Upper BE is the call strike plus the combined premium. Between those two prices a short straddle or strangle finishes in profit at expiry, and a long one finishes in loss. Range % expresses the gap between the two breakevens as a percentage of the current NIFTY price, so you can compare a wide strangle on a quiet day with a tight straddle on an event day without doing the division yourself. Index traders often compare Range % against the move implied by India VIX to judge whether premiums look rich or cheap.
How to read the premium change with the time cycle
The percentage beside the Strangle or Straddle premium shows how much the combined premium has moved against the baseline selected in the time cycle dropdown. On Prev Day it is the change since the previous close, which tells you whether NIFTY straddles and strangles have expanded or decayed overnight and through the session. Switch to 15 Min or 1 Hour and the same figure becomes an intraday decay meter: a steadily negative percentage across OTM strangle rows is premium bleeding out, exactly what a seller wants to see and a buyer wants to avoid. As a major Broad Market index on NSE, NIFTY premiums react quickly to news, so the cycle view helps you separate a genuine volatility shift from normal time decay.
About the Straddle & Strangle Option Chain
A regular option chain lists calls on one side and puts on the other and leaves the arithmetic to you. This page does the arithmetic for every strike. In Straddle mode each row is one strike with its call LTP, put LTP and the combined CE+PE premium, which is what a straddle at that strike costs to buy or pays to sell. In Strangle mode each row is a pair of strikes equally far from the money, so you can see at a glance how much premium an OTM1, OTM2 or OTM3 strangle collects and where it breaks even. The data is the same live NSE and BSE feed that drives the StockMojo option chain, and Historical mode replays any past trading date minute by minute.
Reading the straddle view
The highlighted ATM row is the one most traders open this page for. The ATM straddle premium is the market's own estimate of how far the underlying can move before expiry: option sellers only collect that premium if the move stays inside it, so the price they quote is their forecast of the likely range. Lower BE and Upper BE on that row are the two prices the underlying must cross for a long straddle to pay at expiry, and the edges of the profit zone for a short straddle. Range % converts the gap between the breakevens into a percentage of spot, so a Nifty straddle and a Bank Nifty straddle can be compared on equal terms.
Rows above and below ATM show how the combined premium grows as one leg goes into the money. The strike holding the smallest straddle premium is the market's anchor for the underlying, and watching that minimum shift through the session is a quick read on where the price is being pulled.
Reading the strangle view
Strangle mode pairs strikes by distance from ATM. OTM1 is the call one strike above ATM with the put one strike below, OTM2 is the next strike out on each side, and so on. ITM rows are the reverse pair, a call below ATM with a put above it, which traders call a guts strangle. Walking down the OTM rows you can see exactly how much credit each extra strike of distance gives up and how much the breakeven range widens in return. That trade-off is the whole decision in a short strangle, and here it is laid out in numbers instead of guesswork. The Strangle column is bold so the premium ladder reads at a glance.
The premium change and the time cycle
The percentage shown beside each Straddle or Strangle premium is its change against the baseline chosen in the time cycle dropdown. On Prev Day it tells you whether straddles and strangles have expanded or decayed since the previous close. On Intraday it is the change since the open. On a rolling window such as 15 Min or 1 Hour the same column becomes a decay meter: steadily negative values across the OTM rows are premium bleeding out, which is what a seller wants to see and a buyer wants to avoid. Because implied volatility is baked into every LTP, a sudden green percentage across all rows with no move in the underlying means IV is rising, and a red sweep after an event is the IV crush.
Historical mode for back-testing
Switch to Historical, pick a past date and step through the session in one minute, five minute or one hour jumps. Load a past expiry day to see how fast the ATM straddle decayed from the open, or load the day before a budget, policy or results announcement to see how much premium the market charged and compare it with the move that actually followed. Repeating that across several expiries tells you whether a symbol's premiums have been rich or cheap relative to its realised moves, which is far more useful than a generic rule about selling or buying volatility.
Pair this table with the Straddle Chart for the intraday decay curve, the Option Chain for the OI walls that frame the expected range, and the Strategy Builder to draw the payoff of the pair you pick.
How to use the Straddle & Strangle Option Chain
- Pick a symbol and expiry — Select Nifty, Bank Nifty, Sensex or any F&O stock, then choose the expiry you want to trade.
- Choose Straddle or Strangle — Use the toggle on the right of the toolbar. Straddle shows one row per strike; Strangle shows OTM and ITM strike pairs around ATM.
- Read the highlighted ATM row — The ATM straddle premium is the expected move until expiry; its Lower BE and Upper BE are the prices the underlying must cross for a long position to pay.
- Compare OTM strangle rows — Walk down the OTM1, OTM2, OTM3 rows to see how much premium each extra strike of distance gives up and how much wider the breakeven range becomes.
- Watch the premium change with a time cycle — Set the time cycle to Prev Day, Intraday or a rolling window to see whether combined premiums are expanding or decaying while you hold a position.
Frequently Asked Questions
What is a straddle option chain?
A straddle option chain is an option chain reorganised around two-legged positions. Instead of listing the call and the put separately, every row shows one strike with its call LTP, its put LTP and the combined CE+PE premium, which is the price of the straddle at that strike. The at-the-money row is highlighted because the ATM straddle premium is the market's estimate of the expected move until expiry.
What is a strangle option chain and how are the strikes paired?
In the strangle view each row is a pair of strikes equally distant from ATM. OTM1 pairs the call one strike above ATM with the put one strike below, OTM2 pairs the next strike out on each side, and so on. ITM rows pair an in-the-money call below ATM with an in-the-money put above it, sometimes called a guts strangle. The Strangle column is the combined premium of the pair, so you can see how much credit each extra strike of distance gives up.
How do you read the Lower BE and Upper BE columns?
Lower BE is the put strike minus the combined premium and Upper BE is the call strike plus the combined premium. At expiry a short straddle or strangle is profitable if the underlying closes between the two breakevens, and a long one is profitable only outside them. Range % expresses the gap between the two breakevens as a percentage of the current underlying price so that pairs on different symbols and expiries can be compared directly.
What does the percentage next to the straddle or strangle premium measure?
The percentage beside the combined CE+PE premium is its change against the baseline chosen in the time cycle dropdown. On Prev Day it is the change since the previous session's close. On Intraday it is the change since today's open. On 15 Min, 30 Min or 1 Hour it is the change over that rolling window, which turns that figure into an intraday decay or expansion meter for every strike pair.
How is the ATM strike chosen?
The ATM row uses the same ATM method as the StockMojo option chain: the strike nearest to the spot price by default, or the strike nearest to the futures or synthetic futures price if you have changed the ATM method in the option chain settings. The number of rows above and below ATM also follows the option chain's strikes-around-ATM setting.
How does the ATM straddle premium relate to the expected move?
Buying the ATM call and put pays off only if the underlying moves further than the combined premium in either direction before expiry. Sellers price the pair accordingly, so the ATM straddle premium is the market's implied one-standard-deviation style estimate of the move until expiry. If the ATM straddle on Nifty costs one percent of spot, the market is pricing roughly a one percent move either way.
Can I see historical straddle and strangle premiums?
Yes. Switch to Historical mode, pick any past trading date and step through the session in one minute, five minute or one hour jumps. The table is rebuilt from the option chain snapshot at that minute, so you can replay how a straddle decayed on a past expiry day or how much premium the market charged before an event and compare it with the move that followed.
Which symbols and expiries are covered?
Every NSE and BSE index and F&O stock available in the StockMojo option chain, including Nifty, Bank Nifty, FinNifty, MidcpNifty, Sensex, Bankex and the full list of stock options. All listed expiries for the selected symbol appear in the expiry selector, and the table updates live during market hours from the same feed as the option chain.
Learn more
Read our guide: ATM Straddle Explained: Straddle Price, Charts and the Expected Move