Options desk read, 28 Sep 2026: NIFTY 22,780 (-1.56%), chain, OI and expected move
The desk read for 28 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 | 22,780.2 | -1.56% |
| BANKNIFTY | 54,471.7 | -1.99% |
| SENSEX | 72,771.7 | -1.52% |
| FINNIFTY | 24,671.7 | -1.69% |
| INDIA VIX | 13.6 | +12.17% |
NIFTY finished at 22,780.2 (-1.56%), a down day, with India VIX at 13.64 (+12.17%).
NIFTY option chain
For the 29-Sep-2026 expiry the put–call ratio is 0.62, max pain sits at 22,950, the call wall is at 23,000 and the put wall at 22,000, ATM 22,800. Calls outnumber puts by open interest, a market leaning long. The live chain is free at /option-chain/nifty.
OI build-up on the day: bearish lean — call writing at 23,000 / 22,900 (supply); put writers covering at 23,000 / 23,050. Call OI changed by +104,843,895 contracts and put OI by -1,917,160; PCR moved from 2.06 to 0.74.
Expected versus realised: the ATM straddle implied a day move of about ±233 points; the realised range was 318 points, 68% of the expected range — in line with expected. The straddle to expiry was ₹153.6 with ATM IV at 16.2%.
BANKNIFTY option chain
For the 29-Sep-2026 expiry the put–call ratio is 0.69, max pain sits at 55,500, the call wall is at 57,500 and the put wall at 54,000, ATM 54,500. Calls outnumber puts by open interest, a market leaning long. The live chain is free at /option-chain/banknifty.
OI build-up on the day: bearish lean — call writing at 55,000 / 54,500 (supply); put writers covering at 55,000. Call OI changed by +5,517,210 contracts and put OI by +1,498,320; PCR moved from 3.71 to 1.06.
Expected versus realised: the ATM straddle implied a day move of about ±703 points; the realised range was 952 points, 68% of the expected range — in line with expected. The straddle to expiry was ₹464.0 with ATM IV at 20.5%.
Gold
XAU/USD at $4,155.40. XAU Sovereign reads 1D STRONG SELL · 4H STRONG SELL. Levels and the reasons behind each vote are inside the engine.
FII / DII
On 2026-09-28 FIIs were net ₹-5,353 crore and DIIs net ₹+5,189 crore in the cash market; FII index futures net -312,001 contracts. History and participant positioning at /fii-dii.
What tomorrow carries
- Core PCE Price Index m/m (USD) — 2026-09-30 18:00
- Final GDP q/q (USD) — 2026-09-30 18:00
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.