Options desk read, 16 Sep 2026: NIFTY 23,218 (+0.43%), chain, OI and expected move
The desk read for 16 Sep 2026: where NIFTY and BANKNIFTY closed, what the option chain, open interest and expected move said about it, how gold's engine is leaning, and what tomorrow carries.
The close
| Index | Close | Day |
|---|---|---|
| NIFTY 50 | 23,217.6 | +0.43% |
| BANKNIFTY | 56,292.4 | +0.89% |
| SENSEX | 74,336.4 | +0.45% |
| FINNIFTY | 25,262.4 | +0.74% |
| INDIA VIX | 13.2 | -1.94% |
NIFTY finished at 23,217.6 (+0.43%), a flat day, with India VIX at 13.17 (-1.94%).
NIFTY option chain
For the 22-Sep-2026 expiry the put–call ratio is 0.94, max pain sits at 23,300, the call wall is at 24,000 and the put wall at 23,000, ATM 23,200. Open interest is balanced between the two sides. The live chain is free at /option-chain/nifty.
OI build-up on the day: bearish lean — call writing at 23,500 / 23,250 (supply); put writers covering at 23,450 / 23,500. Call OI changed by +15,751,190 contracts and put OI by +28,278,055; PCR moved from 0.92 to 1.15.
Expected versus realised: the ATM straddle implied a day move of about ±189 points; the realised range was 169 points, 45% of the expected range — quiet — realised well inside expected. The straddle to expiry was ₹308.5 with ATM IV at 12.9%.
BANKNIFTY option chain
For the 29-Sep-2026 expiry the put–call ratio is 0.87, max pain sits at 57,300, the call wall is at 57,500 and the put wall at 54,000, ATM 56,300. Open interest is balanced between the two sides. The live chain is free at /option-chain/banknifty.
OI build-up on the day: bullish lean — put writing at 56,000 / 56,200 (support); call writers covering at 56,500 / 56,000. Call OI changed by -451,290 contracts and put OI by +682,830; PCR moved from 1.04 to 1.30.
Expected versus realised: the ATM straddle implied a day move of about ±509 points; the realised range was 556 points, 55% of the expected range — quiet — realised well inside expected. The straddle to expiry was ₹1,225.1 with ATM IV at 14.4%.
Gold
XAU/USD at $4,349.00. XAU Sovereign reads 1D SELL · 4H SELL. Levels and the reasons behind each vote are inside the engine.
FII / DII
On 2026-09-15 FIIs were net ₹-2,978 crore and DIIs net ₹+2,686 crore in the cash market; FII index futures net -291,052 contracts. History and participant positioning at /fii-dii.
What tomorrow carries
- Federal Funds Rate (USD) — 2026-09-16 23:30
- FOMC Economic Projections (USD) — 2026-09-16 23:30
- FOMC Statement (USD) — 2026-09-16 23:30
- FOMC Press Conference (USD) — 2026-09-17 00:00
Full week in IST at /calendar.
Reads like this take a minute when the panels do the counting. The terminal's OISCAN, MOVE, IVP and RISK panels ran every number above live through the session, and the VIP Indicator's three engines mark the trades on the chart.