Learn F&O
Short, plain-English guides to the numbers you see on an option chain and on TradingWatch. Education only — no tips, no calls.
Open interest
Open interest is the number of contracts that are still open — bought by someone, sold by someone, and not yet closed or expired.
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Put–call ratio (PCR)
PCR = total put open interest ÷ total call open interest for an index or stock and expiry.
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VWAP
VWAP is today's average traded price, where each trade counts in proportion to its volume.
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Max pain
Max pain is the expiry price at which the total value of all open options — calls and puts together — would be the lowest.
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Reading an option chain
An option chain lists every strike of one expiry, with calls on one side and puts on the other.
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Implied volatility (IV)
Implied volatility is how much movement the option market is pricing in, shown as a yearly percentage.
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India VIX
India VIX is NSE's volatility index: the NIFTY move the option market expects over the next 30 days, as a yearly percentage.
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F&O expiry day
On expiry day every open contract of that series is settled and closed — nothing carries over to the next day.
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Market structure
Market structure is the pattern of swing highs and swing lows a price makes — it shows whether a chart is trending up, trending down or moving sideways.
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BOS & CHoCH
A break of structure (BOS) continues the current trend; a change of character (CHoCH) is the first break against it.
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Order blocks
An order block is the price area of the last opposite candle before a strong move — a zone many traders watch when price returns to it.
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Liquidity
Liquidity is how easily you can buy or sell without moving the price much — high volume, tight spreads and deep order books.
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See these numbers live
Open interest, PCR, max pain and India VIX for NIFTY and BANKNIFTY, updated every minute in market hours.
More free tools
F&O lot sizes →
Lot size of every F&O stock and index
F&O expiry calendar →
Next NIFTY, BANKNIFTY and stock expiry dates
NSE holidays 2026 →
Trading holidays and "is the market open?"
Muhurat trading 2026 →
Diwali session on 8 Nov: date and NSE timings
FII / DII data →
Daily foreign and domestic institutional flows
F&O ban list →
Stocks in the ban period for the next session
F&O stocks list →
Every F&O stock with sector, close and lot size
F&O screener →
Build-up, gainers, 52-week highs, delivery, gaps
F&O delivery % →
Delivery percentage of every F&O stock today
For information and education only — not investment advice. Please confirm contract details with your broker or the exchange before trading.