An options chain lists all available Call (CE) and Put (PE) contracts at different strike prices for a given expiry. Each row shows Open Interest (OI) — the number of active contracts — along with trading Volume and Last Traded Price (LTP). Traders use it to identify support, resistance, sentiment and where smart money is positioned.
High Call OI at a strike signals resistance — option writers (typically institutions) have sold calls there, betting the index won't cross that level. High Put OI signals support — sellers expect the index to stay above. Watch for OI shifts during the day: a sharp drop in call OI often precedes a breakout.
Max Pain is the strike price at which the maximum number of options expire worthless, causing maximum loss to option buyers. Option writers tend to push the index toward this level on expiry day (Tuesday for NIFTY, Thursday for SENSEX). Most useful in the last 60 minutes of expiry day trading.
When AKTV Sniper fires a bullish signal at 23,600 CE, cross-check: Is call OI at 23,600 low (not a wall)? Is PCR above 0.9? Is the strike near or above max pain? All three confirming = higher-quality trade. This three-step check significantly improves signal quality.