LT around the money
| Strike | Call OI | Call LTP | Put LTP | Put OI |
|---|---|---|---|---|
| 3,700 | 3,150 | 328.5 | 5.65 | 1,96,175 |
| 3,750 | 2,625 | 228.15 | 8.65 | 12,950 |
| 3,800 | 60,725 | 185 | 13.5 | 2,34,675 |
| 3,850 | 4,025 | 142 | 21.25 | 31,500 |
| 3,900 | 83,300 | 103.55 | 33.3 | 3,46,675 |
| 3,950 ATM | 1,36,150 | 71.75 | 51.55 | 1,93,200 |
| 4,000 | 15,67,300 | 47.35 | 75.95 | 7,87,850 |
| 4,050 | 8,76,225 | 29.85 | 108.1 | 2,89,450 |
| 4,100 | 14,73,150 | 19.35 | 145.4 | 5,75,925 |
| 4,150 | 6,37,000 | 12 | 190 | 78,925 |
| 4,200 | 10,05,375 | 8.65 | 238 | 2,59,175 |
Where LT open interest sits
The heaviest call open interest is at the 4,000 strike, holding 15,67,300 contracts — 22.7% of all LT call open interest on the board, 0.69% above the spot of 3,973. Call open interest concentrated above price is commonly read as resistance, on the reasoning that writers there are defending the level. It is a crowding observation, not a rule — the level holds until that open interest unwinds.
On the put side the weight is at 4,000 with 7,87,850 contracts, 22.2% of LT put open interest, 0.69% above spot. That strike is in the money, so it is not acting as support — price is already beneath it. Heavy in-the-money put open interest more often reflects protection bought before the move than a level being defended now.
New to this? Read the Open Interest guide — how to read it, with worked examples.
What LT's PCR is saying
LT is carrying 35,56,700 contracts of put open interest against 69,10,225 of call, a put-call ratio of 0.51 — call-heavy positioning. PCR has no universally good value; it is read against its own recent range, and the direction it is moving carries more than the level.
It opened the session at 0.51 and has held to 0.51 — a move of 0.00. That is effectively flat: positioning has not changed sides today.
New to this? Read the PCR guide — how to read it, with worked examples.
LT against its max pain
Max pain for LT computes to 4,000, with spot at 3,973 — 0.69% below it. That strike is where the total value of all open contracts expiring would be lowest. It is arithmetic on the current open interest distribution, not a forecast, and the distribution keeps changing.
The curve is defined around it: the nearest strike either side costs writers 3.5% more than 4,000. A trough that distinct is a stronger reference than a flat basin, though it still describes positioning rather than predicting settlement.
There are 21 sessions to expiry. This far out the figure moves as positions roll, and it is least informative early in a series — worth watching for direction of travel rather than as a target.
New to this? Read the Max Pain guide — how to read it, with worked examples.
What changed in LT today
LT is not carrying enough open interest this session for a meaningful intraday flow read. The table above is the full picture the exchange feed gives for this underlying — on a thin book, a single trade can move a strike to the top of the list, so no level is called out here.
New to this? Read the OI Change guide — how to read it, with worked examples.
The move priced into LT
The at-the-money straddle on LT costs 123.30 — 71.75 for the call and 51.55 for the put at the 3,950 strike. That sum is what the market charges to be covered in either direction, which makes it the move being priced in: about 3.10% of spot, or roughly 3,827 to 4,073 by expiry on a breakeven basis.
The straddle has moved 0.0% since the open. That is close to flat, so today's decay and any volatility move have roughly offset.
Implied volatility at the money is 16.0% on the call and 16.2% on the put. The two legs are priced almost identically, so there is no meaningful skew at the money right now.
New to this? Read the ATM Premium guide — how to read it, with worked examples.
LT — frequently asked questions
What is the LT ATM strike today?
The at-the-money strike for LT is 3,950, taken from a spot reading of 3,972.7 on the 29 Sep 2026 expiry. The ATM strike rolls as spot moves, so it is re-selected through the session rather than fixed at the open. It carries the highest time value of any strike, which is why decay is felt most sharply there.
Which LT strike has the highest open interest?
The heaviest call open interest sits at 4,000 with 15,67,300 contracts, and the heaviest put open interest at 4,000 with 7,87,850 contracts. Those two strikes are commonly read as the working range — calls above spot as resistance, puts below as support. They are crowding observations, not guaranteed barriers.
What is open interest in options?
Open interest is the total number of option contracts in a strike that are still open and not yet squared off or settled. It counts positions, not trades. Rising open interest means fresh contracts are being created and new money is entering that strike; falling open interest means existing positions are being closed out.
Is this data live?
The table on this page is baked into the HTML and refreshed through the trading session, so it is readable without JavaScript and carries an as-of stamp. The interactive terminal above it streams live from the exchange feed and updates continuously while the market is open.
Do I need an account to use this?
No account or login is needed. Every tool on this site runs in your browser and is free to use. Nothing you select is stored on a server, and no order can be placed from here — Sahi is an analysis terminal, not a trading or execution platform.
LT on the live tools
This article is the read. These pages are the terminal, each opening on LT.