Bharat Heavy Electricals Limited Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| 3K | +3K | — | —% | ₹— | 320 | ₹— | —% | — | +11K | 2.4 L |
| 0 | 0 | — | —% | ₹— | 330 | ₹— | —% | — | +18K | 3.2 L |
| 1.1 L | +3K | — | —% | ₹— | 340 | ₹— | —% | — | +92K | 6.9 L |
| 53K | +8K | — | —% | ₹— | 350 | ₹— | —% | — | +87K | 7.0 L |
| 1.3 L | +3K | — | —% | ₹— | 360 | ₹— | —% | — | +2.5 L | 12.9 L |
| 2.2 L | 0 | — | —% | ₹— | 370 | ₹— | —% | — | +1.0 L | 11.1 L |
| 6.1 L | -3K | — | —% | ₹— | 380 | ₹— | —% | — | +2.7 L | 25.1 L |
| 13.3 L | -79K | — | —% | ₹— | 390 | ₹— | —% | — | +18K | 15.7 L |
| 56.9 L | -50K | — | —% | ₹— | 400ATM | ₹— | —% | — | +4.4 L | 29.1 L |
| 32.2 L | +5.8 L | — | —% | ₹— | 410 | ₹— | —% | — | +1.6 L | 13.0 L |
| 30.5 L | +81K | — | —% | ₹— | 420 | ₹— | —% | — | +18K | 17.4 L |
| 31.4 L | +3.8 L | — | —% | ₹— | 430 | ₹— | —% | — | +8K | 12.4 L |
| 28.9 L | +1.7 L | — | —% | ₹— | 440 | ₹— | —% | — | -32K | 5.0 L |
| 45.3 L | +3.2 L | — | —% | ₹— | 450 | ₹— | —% | — | -3K | 10.6 L |
| 23.4 L | +4.3 L | — | —% | ₹— | 460 | ₹— | —% | — | +3K | 2.3 L |
| 10.0 L | +1.1 L | — | —% | ₹— | 470 | ₹— | —% | — | 0 | 79K |
| 12.4 L | +1.7 L | — | —% | ₹— | 480 | ₹— | —% | — | +3K | 39K |
| 4.7 L | +87K | — | —% | ₹— | 490 | ₹— | —% | — | 0 | 0 |
| 29.3 L | +97K | — | —% | ₹— | 500 | ₹— | —% | — | +3K | 34K |
| 2.5 L | +1.2 L | — | —% | ₹— | 510 | ₹— | —% | — | 0 | 0 |
| 5.5 L | -32K | — | —% | ₹— | 520 | ₹— | —% | — | +26K | 1.6 L |
Bold CE OI = highest call writing (resistance). Bold PE OI = highest put writing (support). ATM = at-the-money.
Live Greeks Panel
Key Strike Levels
The open‑interest (OI) is heavily stacked at the 400 ₹ put and 410 ₹ call strikes, each holding roughly 200 contracts, which act as the principal support and resistance zones. The market’s implied price corridor therefore centres between ₹400 and ₹410, suggesting traders anticipate the underlying to trade within this 10‑point band as expiry approaches. The ATM level of ₹405.3 sits squarely inside this range, reinforcing the view that price movement is likely to be contained unless a catalyst forces a breakout.
OI Buildup Activity
Recent data show a fresh influx of call OI at the 410 ₹ strike, rising by 5 contracts to a total of 98,500 contracts, indicating aggressive positioning by option writers at this resistance. Similarly, the 460 ₹ and 430 ₹ strikes accrue additional call OI (+4 × 33,125 and +3 × 85,875 respectively), reflecting speculative bets on higher‑priced upside moves. On the put side, the 400 ₹ strike gains 4 contracts to reach 54,125 contracts, while the 380 ₹ and 360 ₹ strikes see further additions of 2 × 65,125 and 2 × 59,875 contracts, respectively, marking defensive positioning around the support zone.
Volatility Read
The at‑the‑money implied volatility stands at 31.81 %, a moderate level that provides sufficient premium for both buyers and sellers. The implied volatility skew is bearish, indicating that out‑of‑the‑money puts are priced relatively higher than calls, a pattern consistent with downside bias.
Key OI Levels
The highest concentrations of open interest are at the 410 ₹ call (200 contracts) and the 400 ₹ put (200 contracts).