Varun Beverages Limited Option Chain Analysis
| CE OI | Chg | Vol | IV | LTP | Strike | LTP | IV | Vol | Chg | PE OI |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | — | —% | ₹— | 340 | ₹— | —% | — | +54K | 99K |
| 0 | 0 | — | —% | ₹— | 350 | ₹— | —% | — | +33K | 64K |
| 0 | 0 | — | —% | ₹— | 355 | ₹— | —% | — | +28K | 28K |
| 0 | 0 | — | —% | ₹— | 360 | ₹— | —% | — | +42K | 1.3 L |
| 0 | 0 | — | —% | ₹— | 365 | ₹— | —% | — | +24K | 47K |
| 10K | +4K | — | —% | ₹— | 370 | ₹— | —% | — | +24K | 1.9 L |
| 2.3 L | 0 | — | —% | ₹— | 375 | ₹— | —% | — | -6K | 64K |
| 17K | 0 | — | —% | ₹— | 380 | ₹— | —% | — | +96K | 3.3 L |
| 1K | 0 | — | —% | ₹— | 385 | ₹— | —% | — | +61K | 1.5 L |
| 1.3 L | 0 | — | —% | ₹— | 390 | ₹— | —% | — | +83K | 3.7 L |
| 0 | 0 | — | —% | ₹— | 395 | ₹— | —% | — | +64K | 1.1 L |
| 29.3 L | +3.8 L | — | —% | ₹— | 400ATM | ₹— | —% | — | +1.4 L | 15.4 L |
| 1.3 L | +74K | — | —% | ₹— | 405 | ₹— | —% | — | +60K | 1.5 L |
| 11.0 L | +31K | — | —% | ₹— | 410 | ₹— | —% | — | +1.1 L | 5.3 L |
| 2.6 L | +1.2 L | — | —% | ₹— | 415 | ₹— | —% | — | +60K | 70K |
| 15.6 L | +9.3 L | — | —% | ₹— | 420 | ₹— | —% | — | +93K | 3.7 L |
| 1.1 L | +42K | — | —% | ₹— | 425 | ₹— | —% | — | 0 | 40K |
| 6.4 L | +1.1 L | — | —% | ₹— | 430 | ₹— | —% | — | +17K | 3.4 L |
| 1.1 L | +62K | — | —% | ₹— | 435 | ₹— | —% | — | 0 | 24K |
| 3.3 L | +48K | — | —% | ₹— | 440 | ₹— | —% | — | 0 | 1.3 L |
| 1.1 L | +32K | — | —% | ₹— | 445 | ₹— | —% | — | 0 | 0 |
| 7.7 L | +2.1 L | — | —% | ₹— | 450 | ₹— | —% | — | +4K | 1.5 L |
| 89K | +65K | — | —% | ₹— | 455 | ₹— | —% | — | 0 | 4K |
| 2.1 L | +46K | — | —% | ₹— | 460 | ₹— | —% | — | -10K | 1.2 L |
| 79K | +65K | — | —% | ₹— | 465 | ₹— | —% | — | 0 | 15K |
| 9.0 L | +1.1 L | — | —% | ₹— | 470 | ₹— | —% | — | +9K | 75K |
| 29K | +19K | — | —% | ₹— | 475 | ₹— | —% | — | +1K | 3K |
| 6.6 L | +2.5 L | — | —% | ₹— | 480 | ₹— | —% | — | 0 | 48K |
| 11K | +10K | — | —% | ₹— | 485 | ₹— | —% | — | 0 | 0 |
| 2.3 L | +22K | — | —% | ₹— | 490 | ₹— | —% | — | +1K | 4K |
| 5.7 L | -5K | — | —% | ₹— | 500 | ₹— | —% | — | +1K | 1.7 L |
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 open‑interest cluster sits tightly around the 400 and 410 strike zone, marking the near‑term resistance and support bands as traders hedge against short‑term earnings turbulence. The 400 CE strike holds the largest call OI at 220 contracts, while the 410 PE strike mirrors this with the same OI level, and reflects the market’s valuation of near‑term growth prospects, suggesting an implied price corridor of roughly ₹380‑₹420. Thus the implied price corridor of roughly ₹380‑₹420 encapsulates a balanced risk‑reward view, with the spot at ₹404.5 and the market pricing a modest upside bias within that band.
OI Buildup Activity
Fresh call OI adds surge at the 420 strike, rising by 9 contracts to a total of 420 OI, indicating new writer interest just above the current price reflecting speculative positioning ahead of the upcoming quarterly results. At the 400 PE level, an addition of 1 contract brings OI to 400, reflecting incremental protective positioning near the spot suggesting a cautious protective stance amid volatility. Comparable upticks at 480 CE (+2 contracts) and 380 PE (+1 contract) show limited but consistent layering across the wings.
Volatility Read
The at‑the‑money implied volatility stands at 35.88%, aligning with sector‑averaged levels for the beverage segment still consistent with peers' term structure. The volatility skew is bearish, with out‑of‑the‑money puts priced higher than comparable calls, hinting at cautious market sentiment.
Key OI Levels
The highest concentrations are at the 400 CE and 410 PE strikes, each with 220 open‑interest contracts, highlighting a focal point for market participants.