SBI Cards and Payment Services Limited Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | —% | ₹— | 340 | ₹— | 15.2% | — | — | — |
| — | — | — | —% | ₹— | 360 | ₹— | 13.9% | — | — | — |
| — | — | — | —% | ₹— | 380 | ₹— | 12.7% | — | — | — |
| — | — | — | —% | ₹— | 400 | ₹— | 11.6% | — | — | — |
| — | — | — | —% | ₹— | 420 | ₹— | 10.5% | — | — | — |
| — | — | — | —% | ₹— | 430 | ₹— | 10.0% | — | — | — |
| — | — | — | —% | ₹— | 440 | ₹— | 9.5% | — | — | — |
| — | — | — | —% | ₹— | 450 | ₹— | 9.0% | — | — | — |
| — | — | — | —% | ₹— | 460 | ₹— | 8.5% | — | — | — |
| — | — | — | —% | ₹— | 470 | ₹— | 8.0% | — | — | — |
| — | — | — | —% | ₹— | 480 | ₹— | 7.6% | — | — | — |
| — | — | — | —% | ₹— | 490 | ₹— | 7.1% | — | — | — |
| — | — | — | —% | ₹— | 500 | ₹— | 6.7% | — | — | — |
| — | — | — | —% | ₹— | 510 | ₹— | 6.2% | — | — | — |
| 2K | 0 | — | —% | ₹171.95 | 520 | ₹0.30 | 81.9% | — | 0 | 52K |
| — | — | — | —% | ₹— | 530 | ₹— | 5.4% | — | — | — |
| 52K | 0 | — | —% | ₹150.85 | 540 | ₹0.20 | 69.5% | 4K | 0 | 75K |
| 35K | 0 | — | —% | ₹83.35 | 550 | ₹0.35 | 67.8% | — | 0 | 89K |
| 4K | 0 | — | —% | ₹107.30 | 560 | ₹0.55 | 67.1% | — | 0 | 2.1 L |
| 33K | 0 | — | 154.4% | ₹123.65 | 570 | ₹0.30 | 58.2% | 6K | -800 | 70K |
| — | — | — | —% | ₹200.65 | 580 | ₹0.80 | 60.8% | — | 0 | 70K |
| 800 | 0 | — | 123.0% | ₹100.40 | 590 | ₹1.20 | 59.6% | — | 0 | 70K |
| 1.4 L | +2K | 3K | —% | ₹82.15 | 600 | ₹0.70 | 52.4% | 85K | +14K | 3.0 L |
| 35K | +10K | 18K | —% | ₹72.75 | 610 | ₹1.00 | 49.0% | 15K | -2K | 79K |
| 1.5 L | 0 | — | —% | ₹53.70 | 620 | ₹1.40 | 47.3% | 54K | -3K | 2.0 L |
| 1.3 L | 0 | — | 55.8% | ₹51.90 | 630 | ₹2.15 | 45.2% | 74K | -2K | 2.5 L |
| 2.6 L | +12K | 37K | 29.2% | ₹44.60 | 640 | ₹2.75 | 43.2% | 2.1 L | +36K | 5.5 L |
| 2.2 L | -5K | 72K | 32.0% | ₹35.95 | 650 | ₹4.05 | 41.6% | 2.5 L | +63K | 4.5 L |
| 2.5 L | -4K | 58K | 32.8% | ₹27.95 | 660 | ₹6.00 | 40.2% | 2.3 L | -6K | 4.4 L |
| 2.9 L | +81K | 4.9 L | 32.0% | ₹20.60 | 670 | ₹8.65 | 39.1% | 9.2 L | +2.8 L | 5.7 L |
| 5.5 L | -15K | 8.5 L | 33.0% | ₹15.35 | 680 | ₹12.85 | 38.1% | 4.7 L | +6K | 8.6 L |
| 3.6 L | +62K | 7.5 L | 32.6% | ₹10.40 | 690 | ₹18.40 | 39.4% | 90K | -12K | 3.3 L |
| 10.6 L | +4K | 10.6 L | 33.1% | ₹6.80 | 700ATM | ₹23.80 | 39.2% | 67K | -25K | 6.3 L |
| 4.6 L | +60K | 2.5 L | 34.3% | ₹4.50 | 710 | ₹32.30 | 41.2% | 18K | -5K | 1.9 L |
| 8.1 L | +53K | 3.9 L | 35.2% | ₹2.70 | 720 | ₹40.75 | 43.5% | 47K | -26K | 1.1 L |
| 1.6 L | -4K | 92K | 35.7% | ₹1.60 | 730 | ₹61.25 | 66.3% | — | 0 | 17K |
| 1.9 L | +14K | 86K | 36.6% | ₹1.10 | 740 | ₹62.15 | —% | — | 0 | 16K |
| 4.0 L | +10K | 76K | 37.9% | ₹0.70 | 750 | ₹74.10 | 59.8% | 3K | +800 | 1.6 L |
| 1.1 L | -2K | 19K | 39.5% | ₹0.40 | 760 | ₹103.60 | 126.5% | — | 0 | 2K |
| 5.8 L | -800 | 50K | 39.1% | ₹0.20 | 770 | ₹81.00 | —% | — | 0 | 10K |
| 29K | -2K | 6K | 44.3% | ₹0.25 | 780 | ₹92.00 | —% | — | 0 | 9K |
| 12K | 0 | 2K | 44.6% | ₹0.15 | 790 | ₹38.50 | —% | — | — | — |
| 12.1 L | -2K | 1.4 L | 48.2% | ₹0.20 | 800 | ₹116.40 | 70.0% | 11K | -6K | 1.3 L |
| 2K | -800 | 3K | 53.5% | ₹0.15 | 810 | ₹49.80 | —% | — | — | — |
| 13K | 0 | 2K | 53.5% | ₹0.10 | 820 | ₹143.70 | 84.1% | 7K | +2K | 3K |
| 26K | 0 | — | 58.3% | ₹0.15 | 830 | ₹158.55 | 104.5% | 2K | 0 | 4K |
| 13K | 0 | — | 61.3% | ₹0.15 | 840 | ₹163.00 | 102.3% | 800 | 0 | 18K |
| 10K | 0 | — | 64.2% | ₹0.15 | 850 | ₹172.00 | 102.0% | 2K | -800 | 19K |
| — | — | — | —% | ₹19.05 | 860 | ₹211.00 | —% | — | 0 | 34K |
| — | — | — | 5.5% | ₹— | 870 | ₹— | —% | — | — | — |
| — | — | — | —% | ₹14.80 | 880 | ₹222.00 | —% | — | 0 | 2K |
| — | — | — | 6.0% | ₹— | 890 | ₹— | —% | — | — | — |
| 46K | 0 | 800 | 69.7% | ₹0.05 | 900 | ₹221.15 | —% | 10K | 0 | 1.0 L |
| — | — | — | 6.5% | ₹— | 910 | ₹— | —% | — | — | — |
| 30K | 0 | 800 | 74.1% | ₹0.05 | 920 | ₹242.20 | —% | 6K | 0 | 9K |
| — | — | — | 7.3% | ₹— | 940 | ₹— | —% | — | — | — |
| — | — | — | 7.7% | ₹— | 960 | ₹— | —% | — | — | — |
| — | — | — | 8.2% | ₹— | 980 | ₹— | —% | — | — | — |
| — | — | — | 8.6% | ₹— | 1,000 | ₹— | —% | — | — | — |
Bold CE OI = highest call writing (resistance). Bold PE OI = highest put writing (support). ATM = at-the-money.
Key Strike Levels
Strong resistance forms at ₹720, where open interest peaks in calls, while ₹660 acts as critical support with elevated put OI. Additional resistance emerges at ₹760, where fresh call buildup has begun. The implied range, based on concentration, holds between ₹660 and ₹720, with ₹690 as a near-term pivot.
OI Buildup Activity
Call writers are actively adding fresh longs at ₹720 and ₹710, with over 1.6 lakh contracts added—signaling aggressive short-side positioning. Put writers are cautiously accumulating at ₹690, absorbing downside flow, while minor support builds at ₹660. The OI surge in higher strikes suggests covering of short calls and new speculative long call entries.
Volatility Read
ATM volatility sits at 35.56%, elevated but stable, indicating premium richness in options. The bearish skew reflects stronger demand for downside protection, reinforcing defensive positioning despite bullish call activity.
Strategy Implication
Bias favors short premium with caution—writers dominate at key resistance, but elevated IV and skew warn of downside vulnerability.