Union Bank of India Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | —% | ₹— | 95 | ₹— | 15.3% | — | — | — |
| — | — | — | —% | ₹— | 100 | ₹— | 14.1% | — | — | — |
| — | — | — | —% | ₹— | 105 | ₹— | 13.0% | — | — | — |
| — | — | — | —% | ₹— | 110 | ₹— | 12.0% | — | — | — |
| — | — | — | —% | ₹— | 115 | ₹— | 11.0% | — | — | — |
| — | — | — | —% | ₹— | 120 | ₹— | 10.1% | — | — | — |
| — | — | — | —% | ₹— | 122.5 | ₹— | 9.6% | — | — | — |
| — | — | — | —% | ₹— | 125 | ₹— | 9.2% | — | — | — |
| — | — | — | —% | ₹— | 127.5 | ₹— | 8.8% | — | — | — |
| — | — | — | —% | ₹— | 130 | ₹— | 8.3% | — | — | — |
| — | — | — | —% | ₹— | 132.5 | ₹— | 7.9% | — | — | — |
| — | — | — | —% | ₹— | 135 | ₹— | 7.5% | — | — | — |
| — | — | — | —% | ₹— | 137.5 | ₹— | 7.1% | — | — | — |
| — | — | — | —% | ₹39.14 | 140 | ₹0.02 | —% | 27K | 0 | 2.3 L |
| — | — | — | —% | ₹47.75 | 142.5 | ₹0.04 | —% | 4K | 0 | 2.2 L |
| 13K | 0 | — | —% | ₹28.26 | 145 | ₹0.04 | 75.9% | — | 0 | 3.2 L |
| — | — | — | —% | ₹45.59 | 147.5 | ₹0.46 | —% | — | — | — |
| 71K | 0 | — | —% | ₹39.45 | 150 | ₹0.08 | 78.6% | 35K | +13K | 9.0 L |
| 31K | 0 | — | —% | ₹19.26 | 152.5 | ₹0.16 | 76.3% | — | 0 | 6.2 L |
| 4K | 0 | — | —% | ₹20.07 | 155 | ₹0.09 | 70.6% | 18K | 0 | 5.2 L |
| — | — | — | —% | ₹45.78 | 157.5 | ₹0.62 | 87.7% | — | 0 | 3.4 L |
| 4.7 L | 0 | 9K | —% | ₹30.63 | 160 | ₹0.12 | 63.9% | 80K | -31K | 9.3 L |
| 1.0 L | 0 | — | —% | ₹23.49 | 162.5 | ₹0.20 | 59.1% | — | 0 | 3.1 L |
| 6.9 L | 0 | — | 75.0% | ₹25.50 | 165 | ₹0.18 | 59.2% | 93K | -58K | 15.8 L |
| 2.3 L | -4K | 13K | 76.0% | ₹25.93 | 167.5 | ₹0.21 | 55.3% | 93K | -18K | 4.7 L |
| 10.9 L | -13K | 97K | 58.5% | ₹23.05 | 170 | ₹0.33 | 54.4% | 4.5 L | +13K | 21.2 L |
| 8.9 L | 0 | — | —% | ₹16.90 | 172.5 | ₹0.39 | 53.0% | 1.2 L | +4K | 16.9 L |
| 21.0 L | -4K | 1.8 L | 41.3% | ₹17.35 | 175 | ₹0.57 | 50.1% | 6.1 L | +1.3 L | 16.7 L |
| 3.5 L | 0 | — | 44.7% | ₹13.07 | 177.5 | ₹0.84 | 49.4% | 3.6 L | -58K | 6.7 L |
| 16.2 L | -1.9 L | 8.7 L | 43.0% | ₹12.85 | 180 | ₹1.09 | 46.7% | 18.2 L | -13K | 49.2 L |
| 4.8 L | +84K | 2.7 L | 41.6% | ₹10.67 | 182.5 | ₹1.51 | 46.3% | 12.8 L | +40K | 4.4 L |
| 8.5 L | -1.1 L | 7.3 L | 41.6% | ₹8.76 | 185 | ₹2.14 | 45.7% | 52.4 L | +4.3 L | 31.1 L |
| 9.8 L | -49K | 11.0 L | 41.9% | ₹6.97 | 187.5 | ₹2.96 | 45.1% | 14.4 L | +1.3 L | 7.3 L |
| 54.1 L | -44K | 80.6 L | 42.2% | ₹5.60 | 190ATM | ₹3.90 | 44.9% | 58.4 L | +5.6 L | 26.4 L |
| 15.3 L | -1.6 L | 59.8 L | 42.1% | ₹4.24 | 192.5 | ₹5.16 | 44.6% | 18.3 L | +3.2 L | 8.1 L |
| 31.0 L | -8.5 L | 1.12 Cr | 41.5% | ₹3.18 | 195 | ₹6.36 | 44.0% | 6.4 L | +75K | 7.3 L |
| 4.8 L | +80K | 17.5 L | 41.8% | ₹2.35 | 197.5 | ₹11.80 | 70.2% | — | 0 | 44K |
| 63.2 L | +15.6 L | 95.2 L | 41.2% | ₹1.63 | 200 | ₹9.54 | 44.6% | 3.1 L | +22K | 5.6 L |
| 2.5 L | +9K | 3.9 L | 41.5% | ₹1.17 | 202.5 | ₹13.22 | 34.6% | — | — | — |
| 21.9 L | -9K | 20.1 L | 42.0% | ₹0.78 | 205 | ₹13.94 | 46.3% | 1.3 L | +49K | 1.0 L |
| 1.4 L | +22K | 1.1 L | 43.5% | ₹0.68 | 207.5 | ₹21.25 | 87.6% | — | 0 | 9K |
| 18.9 L | +1.1 L | 12.3 L | 42.8% | ₹0.36 | 210 | ₹21.28 | 60.1% | — | 0 | 1.3 L |
| — | — | — | 164.1% | ₹9.55 | 212.5 | ₹19.00 | —% | — | — | — |
| 5.7 L | +31K | 1.8 L | 44.9% | ₹0.19 | 215 | ₹40.11 | 222.0% | — | — | — |
| — | — | — | 160.4% | ₹7.90 | 217.5 | ₹22.29 | —% | — | — | — |
| 9.8 L | -18K | 4.5 L | 46.4% | ₹0.09 | 220 | ₹35.08 | 132.7% | — | 0 | 27K |
| — | — | — | 3.5% | ₹— | 222.5 | ₹— | —% | — | — | — |
| 6.2 L | +44K | 1.1 L | 49.0% | ₹0.06 | 225 | ₹49.70 | —% | — | 0 | 44K |
| — | — | — | 4.0% | ₹— | 227.5 | ₹— | —% | — | — | — |
| — | — | — | 4.3% | ₹— | 230 | ₹— | —% | — | — | — |
| — | — | — | 4.5% | ₹— | 232.5 | ₹— | —% | — | — | — |
| — | — | — | 4.7% | ₹— | 235 | ₹— | —% | — | — | — |
| — | — | — | 5.0% | ₹— | 237.5 | ₹— | —% | — | — | — |
| — | — | — | 5.2% | ₹— | 240 | ₹— | —% | — | — | — |
| — | — | — | 5.4% | ₹— | 242.5 | ₹— | —% | — | — | — |
| — | — | — | 5.6% | ₹— | 245 | ₹— | —% | — | — | — |
| — | — | — | 6.1% | ₹— | 250 | ₹— | —% | — | — | — |
| — | — | — | 6.5% | ₹— | 255 | ₹— | —% | — | — | — |
| — | — | — | 7.0% | ₹— | 260 | ₹— | —% | — | — | — |
| — | — | — | 7.4% | ₹— | 265 | ₹— | —% | — | — | — |
Bold CE OI = highest call writing (resistance). Bold PE OI = highest put writing (support). ATM = at-the-money.
Key Strike Levels
Strong support is seen at ₹175–₹180, backed by massive open interest buildup in puts. Immediate resistance forms at ₹190–₹200, where the highest call open interest clusters. The implied trading range centers around ₹180–₹200, with ₹190 acting as a pivot for directional bias.
OI Buildup Activity
Fresh longs are building in 180 PE, indicating aggressive put writing at lower strikes as a floor. Call writers are adding positions at 190 and 200, capping upside momentum despite fresh longs piling into 187.5 and 190 CE. Notably, the 180 PE sees the largest OI increase (+6.1 lakh), suggesting strong defensive positioning.
Volatility Read
ATM implied volatility stands at 33.35%, elevated but stable, reflecting sustained hedging demand. The bearish skew confirms preference for downside protection, with far-OTM puts seeing stronger demand than calls.
Strategy Implication
Writer-led resistance and defensive put structures favor short premium bias with defined risk near ₹190.