Kotak Mahindra Bank Limited Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| 40K | 0 | — | —% | ₹— | 340 | ₹— | —% | — | 0 | 40K |
| 8K | 0 | — | —% | ₹— | 360 | ₹— | —% | — | 0 | 16K |
| 8K | 0 | — | —% | ₹— | 370 | ₹— | —% | — | -6K | 1.3 L |
| 6K | 0 | — | —% | ₹— | 375 | ₹— | —% | — | +6K | 30K |
| 14K | 0 | — | —% | ₹— | 380 | ₹— | —% | — | +2.3 L | 4.9 L |
| 6K | 0 | — | —% | ₹— | 385 | ₹— | —% | — | +18K | 30K |
| 18K | 0 | — | —% | ₹— | 390 | ₹— | —% | — | -2.2 L | 5.7 L |
| 0 | 0 | — | —% | ₹— | 395 | ₹— | —% | — | +1.4 L | 2.2 L |
| 2.3 L | +4K | — | —% | ₹— | 400 | ₹— | —% | — | +2.7 L | 17.3 L |
| 1.0 L | 0 | — | —% | ₹— | 405 | ₹— | —% | — | -2K | 5.3 L |
| 2.0 L | 0 | — | —% | ₹— | 410 | ₹— | —% | — | +2.8 L | 44.5 L |
| 88K | 0 | — | —% | ₹— | 415 | ₹— | —% | — | +2.2 L | 8.1 L |
| 2.9 L | +4K | — | —% | ₹— | 420 | ₹— | —% | — | +1.6 L | 12.4 L |
| 68K | +2K | — | —% | ₹— | 425 | ₹— | —% | — | +2.4 L | 5.0 L |
| 8.5 L | +24K | — | —% | ₹— | 430 | ₹— | —% | — | -1.2 L | 21.1 L |
| 5.6 L | +1.3 L | — | —% | ₹— | 435 | ₹— | —% | — | +1.1 L | 8.3 L |
| 26.0 L | +4.8 L | — | —% | ₹— | 440 | ₹— | —% | — | +2.3 L | 25.8 L |
| 28.5 L | +6.1 L | — | —% | ₹— | 445 | ₹— | —% | — | +1.8 L | 13.6 L |
| 49.3 L | +19.0 L | — | —% | ₹— | 450ATM | ₹— | —% | — | +3.9 L | 12.1 L |
| 38.4 L | +42K | — | —% | ₹— | 455 | ₹— | —% | — | +80K | 2.9 L |
| 24.0 L | +4.0 L | — | —% | ₹— | 460 | ₹— | —% | — | +26K | 2.8 L |
| 7.9 L | +38K | — | —% | ₹— | 465 | ₹— | —% | — | 0 | 58K |
| 16.8 L | -1.1 L | — | —% | ₹— | 470 | ₹— | —% | — | +8K | 38K |
| 4.4 L | +2.0 L | — | —% | ₹— | 475 | ₹— | —% | — | 0 | 0 |
| 6.6 L | +92K | — | —% | ₹— | 480 | ₹— | —% | — | +4K | 1.1 L |
| 2.4 L | +1.0 L | — | —% | ₹— | 485 | ₹— | —% | — | 0 | 0 |
| 10.9 L | +7.6 L | — | —% | ₹— | 490 | ₹— | —% | — | 0 | 0 |
| 12.4 L | +1.0 L | — | —% | ₹— | 500 | ₹— | —% | — | +6K | 98K |
| 1.6 L | +26K | — | —% | ₹— | 510 | ₹— | —% | — | 0 | 0 |
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) picture centres tightly around the ₹440‑₹450 band, indicating that market participants view this interval as the primary trading range until the November expiry. The highest call OI sits at the ₹240 strike (0 % OI change), acting as a near‑term resistance, while the highest put OI mirrors it at the same strike, providing a corresponding support level. Consequently, the implied range implied by the most‑concentrated OI is roughly ₹420‑₹460, snugly framing the current spot price of ₹440.
OI Buildup Activity
Fresh call OI accumulates sharply at the ₹450 strike, with an addition of 18 96,000 contracts, signalling that writers are stacking positions near the upper edge of the range. Secondary call builds appear at ₹490 (+7 62,000) and ₹445 (+6 10,000), suggesting a layered defensive stance as the price approaches the resistance zone. On the put side, the ₹450 strike again draws the largest new OI (+3 90,000), followed by builds at ₹410 (+2 72,000) and ₹400 (+2 70,000), indicating that sellers are reinforcing downside protection just below the current market level.
Volatility Read
The at‑the‑money implied volatility sits at 18.63 %, reflecting moderate premium pricing ahead of the November expiry. The volatility skew is bearish, meaning out‑of‑the‑money puts are priced higher than calls, which points to a market bias toward downside risk.
Key OI Levels
The strikes with the most concentrated OI are ₹240 for both calls and puts, serving as the focal resistance and support points respectively.