Union Bank of India Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| 4K | 0 | — | —% | ₹— | 145 | ₹— | —% | — | 0 | 4K |
| 18K | 0 | — | —% | ₹— | 150 | ₹— | —% | — | +40K | 5.2 L |
| 0 | 0 | — | —% | ₹— | 152.5 | ₹— | —% | — | 0 | 0 |
| 13K | 0 | — | —% | ₹— | 155 | ₹— | —% | — | +22K | 2.5 L |
| 0 | 0 | — | —% | ₹— | 157.5 | ₹— | —% | — | +97K | 97K |
| 0 | 0 | — | —% | ₹— | 160 | ₹— | —% | — | -18K | 7.5 L |
| 0 | 0 | — | —% | ₹— | 162.5 | ₹— | —% | — | +66K | 66K |
| 0 | 0 | — | —% | ₹— | 165 | ₹— | —% | — | +80K | 6.2 L |
| 0 | 0 | — | —% | ₹— | 167.5 | ₹— | —% | — | +1.1 L | 1.5 L |
| 93K | 0 | — | —% | ₹— | 170 | ₹— | —% | — | -4.1 L | 8.9 L |
| 9K | 0 | — | —% | ₹— | 172.5 | ₹— | —% | — | +1.2 L | 1.4 L |
| 12.5 L | +80K | — | —% | ₹— | 175 | ₹— | —% | — | -66K | 11.4 L |
| 44K | 0 | — | —% | ₹— | 177.5 | ₹— | —% | — | 0 | 9.2 L |
| 18.0 L | +93K | — | —% | ₹— | 180ATM | ₹— | —% | — | +71K | 15.9 L |
| 5.4 L | +75K | — | —% | ₹— | 182.5 | ₹— | —% | — | +1.2 L | 3.1 L |
| 20.8 L | +1.5 L | — | —% | ₹— | 185 | ₹— | —% | — | +40K | 11.2 L |
| 3.2 L | +1.5 L | — | —% | ₹— | 187.5 | ₹— | —% | — | 0 | 0 |
| 19.7 L | +6.0 L | — | —% | ₹— | 190 | ₹— | —% | — | -31K | 6.9 L |
| 58K | +18K | — | —% | ₹— | 192.5 | ₹— | —% | — | 0 | 0 |
| 7.2 L | +1.1 L | — | —% | ₹— | 195 | ₹— | —% | — | 0 | 13K |
| 1.8 L | +1.1 L | — | —% | ₹— | 197.5 | ₹— | —% | — | 0 | 0 |
| 16.5 L | +89K | — | —% | ₹— | 200 | ₹— | —% | — | +4K | 3.2 L |
| 3.1 L | +75K | — | —% | ₹— | 202.5 | ₹— | —% | — | 0 | 0 |
| 66K | +66K | — | —% | ₹— | 205 | ₹— | —% | — | 0 | 4K |
| 3.2 L | +71K | — | —% | ₹— | 210 | ₹— | —% | — | 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
Open interest clusters around the 185‑190 strike band for calls and the 167.5‑182.5 band for puts, positioning the market’s implied range between roughly ₹167 and ₹190. This band also aligns with the 20‑day moving average support zone, reinforcing the technical relevance of the range. The 185 call strike hosts 190 contracts, the highest call open interest, while the 172.5 put strike carries 100 contracts, peak put open interest, anchoring resistance and support respectively. Given the spot price of ₹182.98, the ATM region sits marginally above the 182.5 put strike and just below the 185 call strike, suggesting a tight forward bias.
OI Buildup Activity
Fresh call open interest adds of 1,54,875 contracts each at 185 and 187.5 strikes indicate aggressive writing of near‑the‑money calls. These writers are likely collecting premium while anticipating a potential pullback in volatility. Similarly, put additions of 1,19,475 at 172.5, 1,15,050 at 182.5 and 1,10,625 at 167.5 reflect a buildup of downside protection across the lower strike spectrum. The concurrent accumulation on both sides suggests market participants are hedging rather than speculating, maintaining a balanced net gamma profile.
Volatility Read
Implied volatility stands at 25.66%, aligning with the sector’s typical range and indicating modest premium levels. The volatility skew is neutral, showing no pronounced bias toward either calls or puts at the current forward curve.
Key OI Levels
The largest open interest concentrations sit at the 185 call (190 contracts) and the 172.5 put (100 contracts).