Options desk read, 04 Nov 2026: NIFTY 23,961 (+0.63%), chain, OI and expected move
The desk read for 04 Nov 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 | 23,960.6 | +0.63% |
| BANKNIFTY | 55,913.6 | +0.67% |
| SENSEX | 77,301.4 | +0.50% |
| FINNIFTY | 25,580.6 | +0.88% |
| INDIA VIX | 15.2 | -3.37% |
NIFTY finished at 23,960.6 (+0.63%), an up day, with India VIX at 15.19 (-3.37%).
NIFTY option chain
For the 09-Nov-2026 expiry the put–call ratio is 1.08, max pain sits at 23,800, the call wall is at 25,000 and the put wall at 23,000, ATM 23,950. Open interest is balanced between the two sides. The live chain is free at /option-chain/nifty.
OI build-up on the day: bullish lean — put writing at 23,900 (support); call writers covering at 23,700 / 23,650. Call OI changed by +27,924,455 contracts and put OI by +33,832,630; PCR moved from 0.51 to 0.76.
Expected versus realised: the ATM straddle implied a day move of about ±225 points; the realised range was 264 points, 59% of the expected range — quiet — realised well inside expected. The straddle to expiry was ₹332.9 with ATM IV at 14.9%.
Premium: the straddle sat at the 95th percentile of the last 20 cycles at this time — rich — straddle above most cycles at this time.
BANKNIFTY option chain
For the 23-Nov-2026 expiry the put–call ratio is 0.99, max pain sits at 55,700, the call wall is at 58,000 and the put wall at 55,000, ATM 55,900. 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 — call writing at 56,400 (supply); put writing at 55,700 / 55,400 (support); call writers covering at 55,500 / 55,400; OI range 55,700–56,400. Call OI changed by +287,910 contracts and put OI by +818,130; PCR moved from 0.74 to 0.83.
Expected versus realised: the ATM straddle implied a day move of about ±487 points; the realised range was 652 points, 67% of the expected range — in line with expected. The straddle to expiry was ₹1,410.2 with ATM IV at 13.8%.
Gold
XAU/USD at $4,044.70. XAU Sovereign reads 1D SELL · 4H BUY. Levels and the reasons behind each vote are inside the engine.
FII / DII
On 2026-11-03 FIIs were net ₹+6,837 crore and DIIs net ₹-3,679 crore in the cash market; FII index futures net -202,757 contracts. History and participant positioning at /fii-dii.
What tomorrow carries
- Average Hourly Earnings m/m (USD) — 2026-11-06 19:00
- Non-Farm Employment Change (USD) — 2026-11-06 19:00
- Unemployment Rate (USD) — 2026-11-06 19:00
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.