BANKNIFTY PCR Today — Live Put-Call Ratio and OI Balance

The BANKNIFTY put-call ratio is 0.89, calculated from 1,33,81,080 contracts of put open interest divided by 1,50,33,030 of call open interest on the 29 Sep 2026 expiry. On open interest alone that reads as broadly balanced positioning. It is market close, 8 Sep 2026.

BANKNIFTY PCR has moved −0.08 today, from 0.97 at the open to 0.89 now. A rising ratio means put open interest is growing faster than call open interest; a falling ratio the reverse. The direction of change usually carries more information than the level itself.

No. The gap opened at −3,86,730 and stands at −16,51,950, so calls have led throughout the session and the ratio has stayed on one side of 1.00. Crossovers are relatively rare intraday — most sessions the same side stays ahead and only the size of the lead changes.

It means the side carrying the larger written position has changed hands, which is the same event as the put-call ratio passing through 1.00. Because writers defend the strikes they are short, a crossover is usually read as the crowd repositioning around a new range rather than as a directional signal in itself. What matters after one is whether the new leading side keeps adding or immediately gives the lead back.

Max pain for BANKNIFTY on the 29 Sep 2026 expiry is 57,500, the strike at which the largest rupee amount of open premium would expire worthless. With spot at 56,777.55, price sits 1.27% below that level. Underlyings frequently settle away from max pain.

There is no single good value — put-call ratio is read relative to its own recent range, not against a fixed number. A reading near 1 means call and put open interest are roughly balanced. Well above that range is treated as put-heavy positioning and well below as call-heavy. The direction of change matters more than the level.

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.