Cipla Limited Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | — | —% | ₹— | 1,200 | ₹— | —% | — | 0 | 0 |
| 0 | 0 | — | —% | ₹— | 1,220 | ₹— | —% | — | 0 | 3K |
| 0 | 0 | — | —% | ₹— | 1,240 | ₹— | —% | — | +850 | 850 |
| 0 | 0 | — | —% | ₹— | 1,260 | ₹— | —% | — | +850 | 11K |
| 0 | 0 | — | —% | ₹— | 1,270 | ₹— | —% | — | +11K | 11K |
| 0 | 0 | — | —% | ₹— | 1,280 | ₹— | —% | — | +61K | 65K |
| 0 | 0 | — | —% | ₹— | 1,290 | ₹— | —% | — | +24K | 24K |
| 23K | +2K | — | —% | ₹— | 1,300ATM | ₹— | —% | — | -20K | 9.3 L |
| 0 | 0 | — | —% | ₹— | 1,310 | ₹— | —% | — | 0 | 425 |
| 0 | 0 | — | —% | ₹— | 1,320 | ₹— | —% | — | -1K | 1.4 L |
| 0 | 0 | — | —% | ₹— | 1,330 | ₹— | —% | — | -850 | 89K |
| 0 | 0 | — | —% | ₹— | 1,340 | ₹— | —% | — | +7K | 79K |
| 31K | +25K | — | —% | ₹— | 1,350 | ₹— | —% | — | +17K | 1.7 L |
| 5K | +1K | — | —% | ₹— | 1,360 | ₹— | —% | — | +7K | 3.7 L |
| 14K | +12K | — | —% | ₹— | 1,370 | ₹— | —% | — | +27K | 66K |
| 63K | +50K | — | —% | ₹— | 1,380 | ₹— | —% | — | +40K | 1.2 L |
| 60K | +40K | — | —% | ₹— | 1,390 | ₹— | —% | — | -9K | 78K |
| 5.1 L | +70K | — | —% | ₹— | 1,400 | ₹— | —% | — | -10K | 3.0 L |
| 1.4 L | -2K | — | —% | ₹— | 1,410 | ₹— | —% | — | -6K | 1.5 L |
| 3.9 L | -4K | — | —% | ₹— | 1,420 | ₹— | —% | — | -30K | 1.5 L |
| 2.7 L | +25K | — | —% | ₹— | 1,430 | ₹— | —% | — | -6K | 76K |
| 2.9 L | -5K | — | —% | ₹— | 1,440 | ₹— | —% | — | -2K | 44K |
| 2.4 L | +55K | — | —% | ₹— | 1,450 | ₹— | —% | — | 0 | 24K |
| 1.9 L | +57K | — | —% | ₹— | 1,460 | ₹— | —% | — | 0 | 10K |
| 63K | +9K | — | —% | ₹— | 1,470 | ₹— | —% | — | 0 | 45K |
| 9.0 L | +12K | — | —% | ₹— | 1,480 | ₹— | —% | — | 0 | 20K |
| 54K | -11K | — | —% | ₹— | 1,490 | ₹— | —% | — | 0 | 850 |
| 7.9 L | +24K | — | —% | ₹— | 1,500 | ₹— | —% | — | -850 | 89K |
| 6K | +3K | — | —% | ₹— | 1,510 | ₹— | —% | — | 0 | 11K |
| 7.0 L | +3K | — | —% | ₹— | 1,520 | ₹— | —% | — | 0 | 42K |
| 2.1 L | -850 | — | —% | ₹— | 1,530 | ₹— | —% | — | 0 | 5K |
| 3.7 L | 0 | — | —% | ₹— | 1,540 | ₹— | —% | — | 0 | 4K |
| 22K | +2K | — | —% | ₹— | 1,550 | ₹— | —% | — | 0 | 1K |
| 15K | -425 | — | —% | ₹— | 1,560 | ₹— | —% | — | 0 | 0 |
| 3K | 0 | — | —% | ₹— | 1,580 | ₹— | —% | — | 0 | 0 |
| 2K | 0 | — | —% | ₹— | 1,590 | ₹— | —% | — | — | — |
| 41K | +2K | — | —% | ₹— | 1,600 | ₹— | —% | — | 0 | 6K |
| 29K | 0 | — | —% | ₹— | 1,620 | ₹— | —% | — | 0 | 0 |
| 38K | 0 | — | —% | ₹— | 1,640 | ₹— | —% | — | — | — |
| 425 | 0 | — | —% | ₹— | 1,660 | ₹— | —% | — | — | — |
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)‑heavy zone clusters around the 1400‑1450 call region and the 1280‑1380 put region, forming a de‑facto support‑resistance band for the underlying. The highest call OI sits at 1400, while the largest put OI rests at 1280, suggesting the market expects price movement primarily within this corridor. Consequently, traders are likely to view the 1385 spot as near the midpoint of the implied range for the September expiry.
OI Buildup Activity
During the latest trading session, fresh call OI accumulates at 1400 (+72,675), 1460 (+60,350) and 1450 (+55,250), indicating that option writers are layering positions near the upper boundary of the band. On the put side, new OI appears at 1280 (+60,775), 1380 (+38,675) and 1350 (+28,050), reflecting writer interest around the lower boundary. The symmetric influx of OI on both sides implies a balanced exposure, with market participants reinforcing the established support‑resistance levels rather than shifting the overall bias.
Volatility Read
The at‑the‑money implied volatility stands at 18.28 %, modest for a large‑cap pharmaceutical stock and consistent with a relatively stable outlook. The volatility skew is bearish, meaning out‑of‑the‑money calls carry slightly higher implied volatilities than comparable puts, which aligns with the observed OI concentration above the spot price.
Key OI Levels
The strikes with the largest open‑interest concentrations are 1400 for calls (1000 contracts) and 1280 for puts (1000 contracts).