Bandhan Bank Limited Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | —% | ₹— | 70 | ₹— | 20.3% | — | — | — |
| — | — | — | —% | ₹— | 75 | ₹— | 18.8% | — | — | — |
| — | — | — | —% | ₹— | 80 | ₹— | 17.4% | — | — | — |
| — | — | — | —% | ₹— | 85 | ₹— | 16.0% | — | — | — |
| — | — | — | —% | ₹— | 90 | ₹— | 14.8% | — | — | — |
| — | — | — | —% | ₹— | 95 | ₹— | 13.6% | — | — | — |
| — | — | — | —% | ₹— | 97.5 | ₹— | 13.0% | — | — | — |
| — | — | — | —% | ₹— | 100 | ₹— | 12.4% | — | — | — |
| — | — | — | —% | ₹— | 102.5 | ₹— | 11.9% | — | — | — |
| — | — | — | —% | ₹— | 105 | ₹— | 11.4% | — | — | — |
| — | — | — | —% | ₹— | 107.5 | ₹— | 10.8% | — | — | — |
| — | — | — | —% | ₹— | 110 | ₹— | 10.3% | — | — | — |
| — | — | — | —% | ₹— | 112.5 | ₹— | 9.8% | — | — | — |
| — | — | — | —% | ₹36.89 | 115 | ₹1.11 | —% | — | — | — |
| — | — | — | —% | ₹— | 117.5 | ₹— | 8.9% | — | — | — |
| 4K | +4K | — | —% | ₹56.01 | 120 | ₹0.15 | —% | — | 0 | 2.5 L |
| — | — | — | —% | ₹41.23 | 122.5 | ₹0.19 | —% | — | — | — |
| 22K | 0 | — | —% | ₹50.84 | 125 | ₹0.12 | —% | 7K | 0 | 5.4 L |
| — | — | — | —% | ₹36.47 | 127.5 | ₹1.21 | —% | — | 0 | 1.8 L |
| 2.3 L | 0 | — | —% | ₹35.00 | 130 | ₹0.15 | —% | 50K | -18K | 5.7 L |
| 43K | 0 | — | —% | ₹42.17 | 132.5 | ₹0.35 | —% | — | 0 | 1.0 L |
| 22K | 0 | — | —% | ₹39.27 | 135 | ₹0.17 | 91.9% | — | 0 | 2.7 L |
| 97K | 0 | — | —% | ₹16.20 | 137.5 | ₹0.47 | 103.5% | — | 0 | 1.3 L |
| 5.9 L | 0 | 18K | —% | ₹37.88 | 140 | ₹0.14 | 83.1% | 43K | +11K | 7.4 L |
| 3.8 L | 0 | 25K | —% | ₹36.79 | 142.5 | ₹0.19 | 80.0% | 50K | -14K | 3.3 L |
| 2.4 L | -4K | 65K | —% | ₹32.69 | 145 | ₹0.20 | 74.4% | 1.2 L | -29K | 6.5 L |
| 3.0 L | 0 | — | 90.2% | ₹29.07 | 147.5 | ₹0.20 | 69.0% | 22K | 0 | 3.2 L |
| 41.7 L | 0 | 2.2 L | —% | ₹27.96 | 150ATM | ₹0.26 | 67.3% | 1.4 L | +43K | 16.3 L |
| 4.6 L | 0 | — | —% | ₹22.00 | 152.5 | ₹0.38 | 63.5% | — | 0 | 10.3 L |
| 9.4 L | -11K | 36K | —% | ₹22.00 | 155 | ₹0.34 | 58.6% | 1.9 L | +40K | 6.3 L |
| 2.3 L | 0 | — | —% | ₹12.07 | 157.5 | ₹0.38 | 55.5% | 1.7 L | +18K | 1.5 L |
| 11.8 L | -32K | 1.5 L | —% | ₹16.84 | 160 | ₹0.52 | 52.3% | 5.1 L | -2.1 L | 15.2 L |
| 3.2 L | 0 | — | —% | ₹13.07 | 162.5 | ₹0.67 | 49.6% | 2.2 L | -1.0 L | 6.7 L |
| 9.0 L | -5.7 L | 9.1 L | 36.2% | ₹12.65 | 165 | ₹0.88 | 46.5% | 14.1 L | -7.8 L | 13.4 L |
| 4.3 L | 0 | 14K | 35.9% | ₹9.91 | 167.5 | ₹1.28 | 46.4% | 3.9 L | +86K | 4.1 L |
| 18.3 L | -72K | 6.1 L | 42.5% | ₹8.30 | 170 | ₹1.76 | 43.7% | 10.2 L | -14K | 22.2 L |
| 4.1 L | -61K | 2.2 L | 40.9% | ₹6.43 | 172.5 | ₹2.45 | 43.2% | 3.2 L | +58K | 4.1 L |
| 23.8 L | +94K | 19.8 L | 41.1% | ₹4.95 | 175 | ₹3.33 | 42.4% | 11.6 L | +2.1 L | 11.6 L |
| 10.6 L | +2.6 L | 13.5 L | 40.5% | ₹3.59 | 177.5 | ₹4.71 | 42.3% | 11.7 L | +3.6 L | 6.6 L |
| 23.7 L | -1.8 L | 33.1 L | 40.0% | ₹2.55 | 180 | ₹6.24 | 43.2% | 3.6 L | +50K | 7.4 L |
| 2.7 L | +40K | 3.0 L | 40.2% | ₹1.88 | 182.5 | ₹7.61 | 43.2% | 2.0 L | +1.9 L | 1.9 L |
| 10.6 L | +43K | 6.6 L | 41.0% | ₹1.26 | 185 | ₹9.00 | 48.6% | 7K | 0 | 3.2 L |
| 1.5 L | +25K | 1.3 L | 41.6% | ₹0.88 | 187.5 | ₹14.28 | 66.8% | — | 0 | 14K |
| 15.6 L | +58K | 6.3 L | 43.0% | ₹0.62 | 190 | ₹13.83 | 47.2% | 14K | -7K | 6.4 L |
| 2.0 L | 0 | 1.0 L | 43.5% | ₹0.46 | 192.5 | ₹18.04 | 63.0% | — | — | — |
| 2.8 L | -54K | 2.2 L | 45.5% | ₹0.32 | 195 | ₹33.51 | 214.9% | — | 0 | 14K |
| — | — | — | 142.4% | ₹6.71 | 197.5 | ₹21.41 | —% | — | — | — |
| 15.2 L | 0 | 2.1 L | 49.0% | ₹0.19 | 200 | ₹25.50 | 94.6% | — | 0 | 1.1 L |
| — | — | — | 3.1% | ₹— | 202.5 | ₹— | —% | — | — | — |
| — | — | — | 95.8% | ₹1.72 | 205 | ₹45.99 | 270.1% | — | — | — |
| — | — | — | 3.7% | ₹— | 207.5 | ₹— | —% | — | — | — |
| 8.2 L | -4K | 7K | 51.2% | ₹0.04 | 210 | ₹58.60 | —% | — | — | — |
| — | — | — | 4.2% | ₹— | 212.5 | ₹— | —% | — | — | — |
| — | — | — | 4.4% | ₹— | 215 | ₹— | —% | — | — | — |
| — | — | — | 4.7% | ₹— | 217.5 | ₹— | —% | — | — | — |
| — | — | — | 5.0% | ₹— | 220 | ₹— | —% | — | — | — |
| — | — | — | 5.2% | ₹— | 222.5 | ₹— | —% | — | — | — |
| — | — | — | 5.4% | ₹— | 225 | ₹— | —% | — | — | — |
| — | — | — | 5.7% | ₹— | 227.5 | ₹— | —% | — | — | — |
| — | — | — | 5.9% | ₹— | 230 | ₹— | —% | — | — | — |
| — | — | — | 6.4% | ₹— | 235 | ₹— | —% | — | — | — |
| — | — | — | 6.9% | ₹— | 240 | ₹— | —% | — | — | — |
| — | — | — | 7.3% | ₹— | 245 | ₹— | —% | — | — | — |
| — | — | — | 7.8% | ₹— | 250 | ₹— | —% | — | — | — |
Bold CE OI = highest call writing (resistance). Bold PE OI = highest put writing (support). ATM = at-the-money.
Key Strike Levels
Support stands firm at ₹175–₹177.50, reinforced by massive open interest accumulation in puts at these strikes. Resistance remains tight at ₹190, where a large CE OI cluster signals strong writer presence capping upside. The implied range consolidates between ₹175 and ₹190, with ₹177.50 emerging as a key pivot.
OI Buildup Activity
Fresh longs dominate both call and put sides, but the surge in PE OI at ₹177.50 (+3.74L) and ₹175 (+2.08L) shows defensive positioning ahead of downside risks. Call writers are aggressively stacking at ₹177.50 (+2.59L) and ₹190 (+54K), suggesting short call dominance above spot. Unusual symmetry in OI buildup at ₹177.50 indicates a magnet for volatility and potential short covering triggers.
Volatility Read
ATM IV holds at 40.86%, reflecting elevated near-term uncertainty and premium-rich options. The bearish skew confirms put demand outpacing calls, with pricing tilted toward downside protection.
Strategy Implication
Bias leans range-bound with a bearish tilt, favoring structures that benefit from premium erosion and put-side momentum below ₹177.50.