Mahindra & Mahindra Limited Option Chain Analysis
2026-04-282026-05-26
Total CE OI
47.3 L
Total PE OI
33.9 L
PCR
0.72
Bearish
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | —% | ₹— | 1,680 | ₹— | 14.4% | — | — | — |
| — | — | — | —% | ₹— | 1,720 | ₹— | 13.9% | — | — | — |
| — | — | — | —% | ₹— | 1,760 | ₹— | 13.4% | — | — | — |
| — | — | — | —% | ₹— | 1,800 | ₹— | 12.9% | — | — | — |
| — | — | — | —% | ₹— | 1,840 | ₹— | 12.4% | — | — | — |
| — | — | — | —% | ₹— | 1,880 | ₹— | 11.9% | — | — | — |
| — | — | — | —% | ₹— | 1,920 | ₹— | 11.4% | — | — | — |
| — | — | — | —% | ₹— | 1,960 | ₹— | 11.0% | — | — | — |
| — | — | — | —% | ₹— | 2,000 | ₹— | 10.6% | — | — | — |
| — | — | — | —% | ₹— | 2,040 | ₹— | 10.1% | — | — | — |
| — | — | — | —% | ₹— | 2,080 | ₹— | 9.7% | — | — | — |
| — | — | — | —% | ₹— | 2,120 | ₹— | 9.3% | — | — | — |
| — | — | — | —% | ₹— | 2,160 | ₹— | 8.9% | — | — | — |
| — | — | — | —% | ₹— | 2,200 | ₹— | 8.5% | — | — | — |
| — | — | — | —% | ₹— | 2,240 | ₹— | 8.1% | — | — | — |
| — | — | — | —% | ₹— | 2,280 | ₹— | 7.7% | — | — | — |
| — | — | — | —% | ₹— | 2,300 | ₹— | 7.5% | — | — | — |
| — | — | — | —% | ₹— | 2,320 | ₹— | 7.3% | — | — | — |
| — | — | — | —% | ₹— | 2,340 | ₹— | 7.1% | — | — | — |
| — | — | — | —% | ₹— | 2,360 | ₹— | 6.9% | — | — | — |
| — | — | — | —% | ₹— | 2,380 | ₹— | 6.7% | — | — | — |
| 600 | 0 | — | —% | ₹588.45 | 2,400 | ₹0.15 | 73.8% | 3K | -800 | 42K |
| — | — | — | —% | ₹— | 2,420 | ₹— | 6.3% | — | — | — |
| — | — | — | —% | ₹— | 2,440 | ₹— | 6.2% | — | — | — |
| — | — | — | —% | ₹— | 2,460 | ₹— | 6.0% | — | — | — |
| — | — | — | —% | ₹— | 2,480 | ₹— | 5.8% | — | — | — |
| 33K | 0 | — | —% | ₹717.45 | 2,500 | ₹0.30 | 69.0% | 5K | -600 | 46K |
| — | — | — | —% | ₹453.60 | 2,520 | ₹4.85 | —% | — | — | — |
| — | — | — | —% | ₹— | 2,540 | ₹— | 5.3% | — | — | — |
| — | — | — | —% | ₹416.15 | 2,560 | ₹7.15 | 95.1% | — | — | — |
| — | — | — | —% | ₹— | 2,580 | ₹— | 4.9% | — | — | — |
| 29K | 0 | — | —% | ₹571.20 | 2,600 | ₹0.45 | 61.1% | 4K | 0 | 84K |
| — | — | — | —% | ₹— | 2,620 | ₹— | 4.6% | — | — | — |
| — | — | — | —% | ₹344.00 | 2,640 | ₹1.65 | 65.9% | — | 0 | 30K |
| 400 | 0 | — | —% | ₹395.05 | 2,650 | ₹— | —% | — | — | — |
| — | — | — | —% | ₹— | 2,660 | ₹— | 4.3% | — | — | — |
| — | — | — | —% | ₹309.70 | 2,680 | ₹2.30 | 64.8% | — | +200 | 200 |
| 12K | 0 | — | 95.0% | ₹545.00 | 2,700 | ₹0.90 | 57.6% | 11K | -4K | 76K |
| 200 | 0 | — | —% | ₹488.50 | 2,720 | ₹26.90 | 103.4% | — | — | — |
| — | — | — | —% | ₹261.00 | 2,740 | ₹31.00 | 104.7% | — | — | — |
| 400 | 0 | — | —% | ₹319.95 | 2,750 | ₹1.50 | 53.4% | — | 0 | 32K |
| — | — | — | —% | ₹245.60 | 2,760 | ₹9.50 | 73.5% | — | 0 | 15K |
| — | — | — | —% | ₹230.75 | 2,780 | ₹40.55 | 107.4% | — | — | — |
| 19K | 0 | 200 | —% | ₹445.00 | 2,800 | ₹2.35 | 55.0% | 22K | -5K | 1.8 L |
| — | — | — | —% | ₹202.25 | 2,820 | ₹10.55 | 67.2% | — | 0 | 5K |
| — | — | — | —% | ₹188.80 | 2,840 | ₹3.95 | 53.6% | 200 | 0 | 5K |
| 16K | 0 | — | 67.6% | ₹395.00 | 2,850 | ₹4.00 | 51.0% | — | 0 | 1.2 L |
| — | — | — | —% | ₹175.90 | 2,860 | ₹6.90 | 56.6% | — | 0 | 9K |
| — | — | — | —% | ₹163.55 | 2,880 | ₹6.20 | 52.0% | — | 0 | 10K |
| 52K | -200 | 1K | —% | ₹350.00 | 2,900 | ₹2.95 | 45.8% | 33K | -4K | 1.9 L |
| 200 | 0 | — | 45.0% | ₹312.70 | 2,920 | ₹5.30 | 45.4% | — | 0 | 800 |
| 3K | 0 | — | 65.6% | ₹312.00 | 2,940 | ₹98.65 | 120.7% | — | — | — |
| 47K | 0 | 1K | 48.5% | ₹312.00 | 2,950 | ₹4.50 | 43.6% | 18K | -5K | 60K |
| 12K | 0 | — | 90.5% | ₹328.00 | 2,960 | ₹4.40 | 42.5% | 9K | -4K | 25K |
| 18K | 0 | — | 81.0% | ₹300.00 | 2,980 | ₹5.25 | 41.1% | 3K | -3K | 16K |
| 1.8 L | -2K | 9K | —% | ₹255.10 | 3,000 | ₹6.40 | 40.7% | 1.0 L | -17K | 2.7 L |
| 32K | 0 | — | 92.2% | ₹288.75 | 3,020 | ₹6.95 | 39.0% | 8K | -1K | 44K |
| 80K | 0 | — | —% | ₹188.60 | 3,040 | ₹8.55 | 38.7% | 18K | +4K | 48K |
| 62K | -800 | 2K | 32.7% | ₹210.20 | 3,050 | ₹9.35 | 38.3% | 53K | +17K | 1.3 L |
| 20K | 0 | 200 | —% | ₹202.60 | 3,060 | ₹9.90 | 37.1% | 11K | +4K | 11K |
| 18K | 0 | 800 | 19.3% | ₹169.00 | 3,080 | ₹11.70 | 36.4% | 5K | -200 | 23K |
| 3.4 L | -6K | 16K | 24.6% | ₹160.15 | 3,100 | ₹14.40 | 36.0% | 1.2 L | +200 | 3.0 L |
| 22K | 0 | — | 35.1% | ₹131.70 | 3,120 | ₹17.10 | 34.9% | 11K | +3K | 21K |
| 9K | 0 | — | 34.4% | ₹116.10 | 3,140 | ₹21.10 | 35.0% | 18K | +3K | 27K |
| 1.5 L | -2K | 8K | 27.6% | ₹120.00 | 3,150 | ₹23.15 | 34.6% | 1.6 L | -3K | 1.3 L |
| 11K | -8K | 22K | 30.8% | ₹116.15 | 3,160 | ₹25.80 | 34.6% | 73K | +5K | 50K |
| 14K | -1K | 10K | 30.8% | ₹101.35 | 3,180 | ₹30.75 | 34.0% | 67K | +4K | 43K |
| 4.0 L | -22K | 4.0 L | 28.8% | ₹85.20 | 3,200 | ₹37.20 | 33.7% | 3.5 L | -1K | 2.0 L |
| 1.3 L | -21K | 1.8 L | 29.0% | ₹73.00 | 3,220 | ₹44.50 | 33.4% | 1.4 L | +9K | 80K |
| 1.1 L | -27K | 3.9 L | 29.1% | ₹61.75 | 3,240 | ₹54.25 | 33.9% | 1.5 L | -14K | 48K |
| 5.3 L | +8K | 5.7 L | 29.5% | ₹57.55 | 3,250 | ₹57.90 | 33.3% | 1.5 L | +4K | 1.5 L |
| 94K | +200 | 1.7 L | 29.2% | ₹51.80 | 3,260 | ₹62.30 | 32.8% | 63K | +8K | 50K |
| 1.6 L | -12K | 1.6 L | 29.2% | ₹42.75 | 3,280 | ₹74.25 | 33.4% | 42K | -3K | 26K |
| 6.4 L | -30K | 6.3 L | 29.0% | ₹34.70 | 3,300ATM | ₹86.60 | 34.2% | 64K | -4K | 1.8 L |
| 36K | +12K | 1.1 L | 29.2% | ₹28.15 | 3,320 | ₹365.75 | 170.4% | — | — | — |
| 79K | -200 | 46K | 29.1% | ₹22.25 | 3,340 | ₹154.00 | 46.5% | — | 0 | 5K |
| 96K | +2K | 1.1 L | 29.0% | ₹19.50 | 3,350 | ₹132.70 | 40.0% | 200 | 0 | 7K |
| 27K | -3K | 20K | 29.0% | ₹17.70 | 3,360 | ₹401.35 | 176.7% | — | — | — |
| 22K | -800 | 36K | 28.9% | ₹13.35 | 3,380 | ₹419.50 | 179.9% | — | — | — |
| 2.9 L | -10K | 1.8 L | 29.2% | ₹10.45 | 3,400 | ₹159.60 | 33.9% | 23K | -7K | 1.5 L |
| 35K | +1K | 4K | 29.7% | ₹8.30 | 3,420 | ₹191.40 | 13.6% | — | 0 | 200 |
| 12K | -200 | 2K | 29.4% | ₹6.05 | 3,440 | ₹474.90 | 189.4% | — | — | — |
| 69K | +10K | 53K | 29.6% | ₹5.30 | 3,450 | ₹231.70 | 38.6% | — | 0 | 3K |
| 9K | -600 | 1K | 30.2% | ₹5.40 | 3,460 | ₹493.65 | 192.6% | — | — | — |
| 9K | 0 | 200 | 32.6% | ₹5.30 | 3,480 | ₹512.60 | 195.8% | — | — | — |
| 2.7 L | -22K | 1.1 L | 30.2% | ₹2.70 | 3,500 | ₹247.00 | 36.5% | 3K | -600 | 1.9 L |
| 8K | -2K | 95K | 30.7% | ₹2.15 | 3,520 | ₹550.70 | 202.1% | — | — | — |
| 3K | 0 | — | 35.8% | ₹2.50 | 3,540 | ₹569.95 | 205.3% | — | — | — |
| 82K | 0 | 22K | 31.7% | ₹1.55 | 3,550 | ₹576.00 | 204.9% | — | 0 | 1K |
| 4K | -1K | 2K | 32.8% | ₹1.65 | 3,560 | ₹589.20 | 208.4% | — | — | — |
| 200 | 0 | — | 41.9% | ₹3.55 | 3,580 | ₹608.60 | 211.6% | — | — | — |
| 2.1 L | -11K | 2.2 L | 33.6% | ₹1.05 | 3,600 | ₹363.65 | 47.3% | 600 | -200 | 80K |
| — | — | — | 2.5% | ₹— | 3,620 | ₹— | —% | — | — | — |
| 5K | 0 | — | 43.9% | ₹2.35 | 3,640 | ₹667.05 | 220.8% | — | — | — |
| 48K | 0 | 11K | 36.0% | ₹0.75 | 3,650 | ₹623.55 | 192.4% | — | 0 | 1K |
| — | — | — | 2.8% | ₹— | 3,660 | ₹— | —% | — | — | — |
| — | — | — | 44.2% | ₹1.55 | 3,680 | ₹706.30 | 226.9% | — | — | — |
| 76K | -6K | 2.4 L | 38.9% | ₹0.65 | 3,700 | ₹485.00 | 70.4% | — | 0 | 1.1 L |
| — | — | — | 3.1% | ₹— | 3,720 | ₹— | —% | — | — | — |
| — | — | — | 3.2% | ₹— | 3,740 | ₹— | —% | — | — | — |
| 6K | 0 | — | 51.4% | ₹2.00 | 3,750 | ₹495.00 | —% | — | 0 | 400 |
| — | — | — | 3.4% | ₹— | 3,760 | ₹— | —% | — | — | — |
| — | — | — | 3.5% | ₹— | 3,780 | ₹— | —% | — | — | — |
| 33K | -1K | 3K | 44.2% | ₹0.50 | 3,800 | ₹548.00 | 64.2% | 1K | 0 | 34K |
| — | — | — | 3.7% | ₹— | 3,820 | ₹— | —% | — | — | — |
| — | — | — | 3.8% | ₹— | 3,840 | ₹— | —% | — | — | — |
| — | — | — | 3.9% | ₹— | 3,860 | ₹— | —% | — | — | — |
| — | — | — | 4.1% | ₹— | 3,880 | ₹— | —% | — | — | — |
| 7K | 0 | — | 55.3% | ₹0.80 | 3,900 | ₹835.00 | —% | — | 0 | 600 |
| — | — | — | 4.3% | ₹— | 3,920 | ₹— | —% | — | — | — |
| — | — | — | 4.4% | ₹— | 3,940 | ₹— | —% | — | — | — |
| — | — | — | 4.5% | ₹— | 3,960 | ₹— | —% | — | — | — |
| — | — | — | 4.6% | ₹— | 3,980 | ₹— | —% | — | — | — |
| 36K | -800 | 10K | 58.8% | ₹0.65 | 4,000 | ₹1100.00 | —% | — | 0 | 7K |
| — | — | — | 5.0% | ₹— | 4,040 | ₹— | —% | — | — | — |
| — | — | — | 5.2% | ₹— | 4,080 | ₹— | —% | — | — | — |
| — | — | — | 5.4% | ₹— | 4,120 | ₹— | —% | — | — | — |
| — | — | — | 5.6% | ₹— | 4,160 | ₹— | —% | — | — | — |
| 16K | 0 | — | 70.7% | ₹0.55 | 4,200 | ₹770.95 | —% | — | — | — |
| — | — | — | 6.0% | ₹— | 4,240 | ₹— | —% | — | — | — |
| — | — | — | 6.2% | ₹— | 4,280 | ₹— | —% | — | — | — |
| — | — | — | 6.4% | ₹— | 4,320 | ₹— | —% | — | — | — |
| — | — | — | 6.6% | ₹— | 4,360 | ₹— | —% | — | — | — |
| — | — | — | 6.8% | ₹— | 4,400 | ₹— | —% | — | — | — |
| — | — | — | 7.0% | ₹— | 4,440 | ₹— | —% | — | — | — |
| — | — | — | 7.2% | ₹— | 4,480 | ₹— | —% | — | — | — |
| — | — | — | 7.4% | ₹— | 4,520 | ₹— | —% | — | — | — |
| — | — | — | 7.6% | ₹— | 4,560 | ₹— | —% | — | — | — |
Bold CE OI = highest call writing (resistance). Bold PE OI = highest put writing (support). ATM = at-the-money.
AI AnalysisGenerated daily after market close · AI-powered
Key Strike Levels
Immediate resistance centers at ₹3,320 and ₹3,450, where fresh call writing has created strong call-side OI peaks. Support clusters at ₹3,220 and ₹3,050, backed by substantial put OI buildup, with the latter acting as a strategic long-term floor. Given current OI distribution, the implied range settles between ₹3,050–₹3,450, with ₹3,249.6 navigating inside a narrowed consolidation band.
OI Buildup Activity
Fresh longs on the call side target ₹3,320, ₹3,450, and ₹3,250, signaling aggressive speculative interest as near-term breakout plays. On the put side, ₹3,050 dominates OI additions with +15,400 contracts, indicating strong defensive positioning by put writers. The symmetric buildup at ₹1,680 CE and PE suggests a contingent risk-off hedge, though recent flows show writers favor downside protection.
Volatility Read
ATM IV holds at 29.37%, reflecting elevated risk premium amid medium-term uncertainty. The bearish skew confirms put demand outpaces calls, driven by long-tenor protective structures.
Strategy Implication
Bias skews cautiously bearish with a preference for premium collection in upper strikes and defensive longs below ₹3,220.
Related Analysis
Frequently Asked Questions
What is the highest call OI strike for Mahindra & Mahindra Limited today?▾
The strike with highest call (CE) open interest for Mahindra & Mahindra Limited is ₹3,300 for the 2026-04-28 expiry. This acts as a key resistance level since call writers will defend this strike aggressively near expiry.
What is the highest put OI strike for Mahindra & Mahindra Limited today?▾
The strike with highest put (PE) open interest for Mahindra & Mahindra Limited is ₹3,100 for the 2026-04-28 expiry. This acts as a key support level — put writers will tend to defend this level near expiry.
What does OI buildup in Mahindra & Mahindra Limited options mean?▾
Open Interest (OI) buildup in Mahindra & Mahindra Limited options shows how many net new contracts are being created at each strike. Rising OI at a strike means fresh positions (writers or buyers). Rising OI with rising price = long buildup (bullish); rising OI with falling price = short buildup (bearish).
When does Mahindra & Mahindra Limited options expire?▾
Mahindra & Mahindra Limited options have their nearest expiry on 2026-04-28. NSE F&O stocks have monthly expiry contracts — typically the last Tuesday of each month. MarketNetra shows data for the nearest two expiries.
How to read Mahindra & Mahindra Limited option chain?▾
The Mahindra & Mahindra Limited option chain shows calls (CE) on the left and puts (PE) on the right for each strike price. Key columns: OI (total open contracts), OI Change (new positions today), Volume (today's trades), IV (implied volatility — higher = more uncertainty), and LTP (last traded price). The ATM (at-the-money) strike is highlighted in blue.