SAIL around the money
| Strike | Call OI | Call LTP | Put LTP | Put OI |
|---|---|---|---|---|
| 175 | 3,99,500 | 16 | 1.75 | 13,20,700 |
| 177.5 | 0 | — | 1.71 | 2,96,100 |
| 180 | 9,77,600 | 9 | 1.8 | 24,20,500 |
| 182.5 | 3,33,700 | 8 | 3 | 8,60,100 |
| 185 | 16,35,600 | 5.65 | 4.25 | 22,13,700 |
| 187.5 ATM | 3,57,200 | 7.5 | 3.4 | 5,59,300 |
| 190 | 24,81,600 | 3.8 | 5 | 19,64,600 |
| 192.5 | 3,05,500 | 3 | 2.12 | 1,26,900 |
| 195 | 13,11,300 | 2.2 | 9 | 11,79,700 |
| 197.5 | 3,61,900 | 8 | 4.35 | 7,05,000 |
| 200 | 26,79,000 | 1.2 | 4.6 | 4,74,700 |
Where SAIL open interest sits
The heaviest call open interest is at the 200 strike, holding 26,79,000 contracts — 16.7% of all SAIL call open interest on the board, 7.21% above the spot of 187. 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 170 with 32,66,500 contracts, 18.3% of SAIL put open interest, 8.87% below spot. Put open interest concentrated below price is usually treated as support for the same reason, and breaks the same way.
New to this? Read the Open Interest guide — how to read it, with worked examples.
What SAIL's PCR is saying
SAIL is carrying 1,78,78,800 contracts of put open interest against 1,60,69,300 of call, a put-call ratio of 1.11 — mildly put-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 1.11 and has held to 1.11 — 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.
SAIL against its max pain
Max pain for SAIL computes to 190, with spot at 187 — 1.85% 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 pain curve around it is flat — the neighbouring strikes cost writers only 0.5% more than 190 does. A basin that shallow means several strikes are near-equally cheap to settle at, so the level is a weak magnet and small shifts in open interest can move it.
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 SAIL today
SAIL 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 SAIL
The at-the-money straddle on SAIL costs 10.90 — 7.50 for the call and 3.40 for the put at the 188 strike. That sum is what the market charges to be covered in either direction, which makes it the move being priced in: about 5.84% of spot, or roughly 177 to 198 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 43.2% on the call and 17.5% on the put. The call carries 25.7 points more, which is the less common direction and points to upside being bid.
New to this? Read the ATM Premium guide — how to read it, with worked examples.
SAIL — frequently asked questions
What is the SAIL ATM strike today?
The at-the-money strike for SAIL is 187.5, taken from a spot reading of 186.55 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 SAIL strike has the highest open interest?
The heaviest call open interest sits at 200 with 26,79,000 contracts, and the heaviest put open interest at 170 with 32,66,500 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.
SAIL on the live tools
This article is the read. These pages are the terminal, each opening on SAIL.