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 |
| 13K | 0 | — | —% | ₹— | 150 | ₹— | —% | — | — | — |
| 27K | 0 | — | —% | ₹— | 155 | ₹— | —% | — | 0 | 89K |
| 0 | 0 | — | —% | ₹— | 160 | ₹— | —% | — | +4K | 5.5 L |
| 80K | 0 | — | —% | ₹— | 165 | ₹— | —% | — | 0 | 4.9 L |
| 0 | 0 | — | —% | ₹— | 167.5 | ₹— | —% | — | 0 | 0 |
| 4.0 L | +4K | — | —% | ₹— | 170 | ₹— | —% | — | +49K | 15.8 L |
| 40K | +13K | — | —% | ₹— | 172.5 | ₹— | —% | — | +4.2 L | 8.5 L |
| 5.0 L | 0 | — | —% | ₹— | 175 | ₹— | —% | — | -1.5 L | 20.8 L |
| 27K | +27K | — | —% | ₹— | 177.5 | ₹— | —% | — | +1.2 L | 4.3 L |
| 27.0 L | -4K | — | —% | ₹— | 180 | ₹— | —% | — | +2.2 L | 63.0 L |
| 10.6 L | +4K | — | —% | ₹— | 182.5 | ₹— | —% | — | -62K | 14.6 L |
| 33.9 L | +89K | — | —% | ₹— | 185ATM | ₹— | —% | — | -3.0 L | 84.8 L |
| 9.2 L | +40K | — | —% | ₹— | 187.5 | ₹— | —% | — | +80K | 9.4 L |
| 65.9 L | +84K | — | —% | ₹— | 190 | ₹— | —% | — | +84K | 26.0 L |
| 12.3 L | -49K | — | —% | ₹— | 192.5 | ₹— | —% | — | -4K | 3.9 L |
| 58.7 L | +10.0 L | — | —% | ₹— | 195 | ₹— | —% | — | +9K | 7.8 L |
| 49.5 L | +1.5 L | — | —% | ₹— | 197.5 | ₹— | —% | — | 0 | 40K |
| 47.3 L | +4.3 L | — | —% | ₹— | 200 | ₹— | —% | — | -1.6 L | 10.0 L |
| 3.6 L | +40K | — | —% | ₹— | 202.5 | ₹— | —% | — | 0 | 1.4 L |
| 49.2 L | +35K | — | —% | ₹— | 205 | ₹— | —% | — | 0 | 0 |
| 40K | +40K | — | —% | ₹— | 207.5 | ₹— | —% | — | 0 | 0 |
| 22.8 L | +1.9 L | — | —% | ₹— | 210 | ₹— | —% | — | 0 | 9K |
| 10.4 L | -1.3 L | — | —% | ₹— | 215 | ₹— | —% | — | 0 | 4K |
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 195‑strike call cluster commands the largest open interest at 110 contracts, establishing a near‑term resistance around ₹195, while the 172.5‑strike put cluster mirrors this with 110 contracts, creating a support level near ₹172.5 and a tight OI ladder that underscores market focus. With the spot at ₹187.22, the implied price corridor spans roughly ₹172.5 to ₹195, suggesting the market expects the underlying to oscillate within this band before the September 29 expiry, a range that aligns with historical volatility patterns. The ATM volatility stands at 25.83%, implying moderate premium levels that are consistent with the observed OI distribution and reinforce the defined trading range.
OI Buildup Activity
Fresh open‑interest adds surface at the 195‑strike call (+9 contracts, ₹91,200) and at the 200‑strike call (+4 contracts, ₹29,225), indicating new sellers are taking positions near the upper resistance and reinforcing the ceiling of the price band. On the put side, additional OI appears at 172.5‑strike (+4 contracts, ₹24,800), 177.5‑strike (+1 contract, ₹19,475) and 180‑strike (+2 contracts, ₹16,825), reflecting fresh bearish bets anchoring the support zone and adding depth to downside protection. These accumulation patterns suggest that market makers are reinforcing both the resistance and support thresholds ahead of the expiry, providing a balanced order‑book structure.
Volatility Read
Implied volatility of 25.83% indicates a moderate premium environment, with no extreme skewness in pricing across strikes. The skew metric is bearish, showing higher relative demand for puts versus calls at comparable strikes, which hints at a slight downside bias in trader sentiment.
Key OI Levels
The concentration peaks at the 195‑strike for calls and the 172.5‑strike for puts, each hosting 110 contracts.