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Bank Nifty options analysis

End-of-day data as of 2026-10-09

Tomorrow: where Bank Nifty can go (next trading day)

For the next trading day, options point to about 0.9% either way: Bank Nifty between 54,747 and 55,766 (from 55,257).

2026-07-16 O 57,989 H 58,060 L 57,610 C 57,7912026-07-17 O 57,800 H 58,600 L 57,702 C 58,5342026-07-20 O 58,100 H 58,225 L 57,643 C 58,1252026-07-21 O 58,080 H 58,265 L 57,911 C 57,9692026-07-22 O 57,800 H 57,890 L 57,056 C 57,1992026-07-23 O 56,900 H 57,040 L 56,451 C 56,6652026-07-24 O 56,300 H 56,932 L 56,155 C 56,8452026-07-27 O 57,075 H 57,389 L 56,959 C 57,1762026-07-28 O 57,061 H 57,100 L 56,688 C 56,7322026-07-29 O 57,333 H 57,458 L 57,151 C 57,3442026-07-30 O 57,125 H 57,350 L 56,925 C 57,2952026-07-31 O 57,460 H 57,576 L 57,361 C 57,4252026-08-03 O 57,750 H 58,066 L 57,712 C 57,8622026-08-04 O 57,830 H 58,074 L 57,581 C 57,7162026-08-05 O 57,980 H 58,184 L 57,703 C 57,8322026-08-06 O 57,940 H 58,212 L 57,860 C 58,1802026-08-07 O 58,010 H 58,130 L 57,869 C 58,0202026-08-10 O 57,999 H 58,112 L 57,751 C 57,8732026-08-11 O 57,750 H 57,788 L 57,360 C 57,5762026-08-12 O 57,576 H 58,089 L 57,464 C 58,0072026-08-13 O 58,099 H 58,099 L 57,755 C 57,8612026-08-14 O 57,821 H 57,878 L 57,558 C 57,6962026-08-17 O 57,571 H 57,900 L 57,275 C 57,8362026-08-18 O 57,595 H 57,720 L 57,341 C 57,4332026-08-19 O 57,402 H 57,499 L 57,151 C 57,3502026-08-20 O 57,588 H 57,900 L 57,520 C 57,6392026-08-21 O 57,639 H 57,858 L 57,585 C 57,7222026-08-24 O 57,800 H 57,890 L 57,224 C 57,4372026-08-25 O 57,300 H 57,650 L 57,259 C 57,5032026-08-26 O 58,010 H 58,380 L 57,900 C 58,2212026-08-27 O 58,220 H 58,298 L 57,848 C 57,9032026-08-28 O 57,885 H 57,976 L 57,671 C 57,8592026-08-31 O 57,751 H 57,966 L 57,592 C 57,8872026-09-01 O 57,876 H 58,101 L 57,484 C 57,5872026-09-02 O 57,300 H 57,599 L 57,211 C 57,4942026-09-03 O 57,788 H 58,050 L 57,665 C 57,7132026-09-04 O 57,795 H 57,953 L 57,685 C 57,7752026-09-07 O 57,700 H 57,723 L 57,324 C 57,3842026-09-08 O 57,255 H 57,343 L 57,058 C 57,1282026-09-09 O 56,674 H 57,130 L 56,625 C 56,6932026-09-10 O 56,693 H 56,880 L 56,550 C 56,5962026-09-11 O 56,275 H 56,925 L 55,970 C 56,8692026-09-15 O 56,890 H 57,090 L 55,990 C 56,0792026-09-16 O 56,180 H 56,600 L 56,083 C 56,4082026-09-17 O 56,371 H 56,748 L 56,230 C 56,3102026-09-18 O 56,302 H 56,642 L 56,299 C 56,5272026-09-21 O 56,525 H 56,784 L 56,488 C 56,6372026-09-22 O 56,690 H 56,775 L 56,163 C 56,4912026-09-23 O 56,450 H 56,741 L 56,450 C 56,6862026-09-24 O 56,000 H 56,188 L 55,445 C 55,6162026-09-25 O 55,650 H 55,899 L 55,539 C 55,6642026-09-28 O 55,405 H 55,463 L 54,506 C 54,5562026-09-29 O 54,328 H 54,461 L 53,810 C 54,3022026-09-30 O 54,897 H 55,461 L 54,780 C 55,0062026-10-01 O 54,840 H 55,365 L 54,313 C 54,7952026-10-05 O 55,095 H 55,440 L 54,714 C 54,9232026-10-06 O 55,098 H 55,425 L 55,050 C 55,2472026-10-07 O 55,000 H 55,540 L 54,869 C 55,2502026-10-08 O 55,288 H 55,288 L 54,610 C 54,7392026-10-09 O 54,950 H 55,654 L 54,870 C 55,480Upper end 55,991Lower end 54,968Now 55,48016 Jul9 Oct
Lower end 54,747Now 55,257Upper end 55,766

Candles are Bank Nifty near-month futures (end-of-day). The shaded bars on the right are the ranges options price in for tomorrow and till expiry, shifted to the futures level. A range, not a prediction.

Since 2024, the next day's close landed inside this one-day range 73% of the time (497 of 683 days).

Last 20 days: where it actually closed the next day

Green bar: the one-day range options gave. Dot: the next day's close (green = inside, red = outside).

09-09
56,472 ✓
09-10
56,606 ✓
09-11
55,789 ✗
09-15
56,290 ✓
09-16
56,055 ✓
09-17
56,358 ✓
09-18
56,471 ✓
09-21
56,215 ✓
09-22
56,548 ✓
09-23
55,427 ✗
09-24
55,580 ✓
09-25
54,460 ✗
09-28
54,260 ✓
09-29
54,632 ✓
09-30
54,450 ✓
10-01
54,713 ✓
10-05
55,127 ✓
10-06
55,056 ✓
10-07
54,512 ✗
10-08
55,252 ✗

Where Bank Nifty can go till 2026-10-27 (monthly expiry, 18 Days left)

Options traders are pricing in a move of about 3.2% either way. That puts Bank Nifty between 53,494 and 57,019 (now 55,257).

2026-07-16 O 57,989 H 58,060 L 57,610 C 57,7912026-07-17 O 57,800 H 58,600 L 57,702 C 58,5342026-07-20 O 58,100 H 58,225 L 57,643 C 58,1252026-07-21 O 58,080 H 58,265 L 57,911 C 57,9692026-07-22 O 57,800 H 57,890 L 57,056 C 57,1992026-07-23 O 56,900 H 57,040 L 56,451 C 56,6652026-07-24 O 56,300 H 56,932 L 56,155 C 56,8452026-07-27 O 57,075 H 57,389 L 56,959 C 57,1762026-07-28 O 57,061 H 57,100 L 56,688 C 56,7322026-07-29 O 57,333 H 57,458 L 57,151 C 57,3442026-07-30 O 57,125 H 57,350 L 56,925 C 57,2952026-07-31 O 57,460 H 57,576 L 57,361 C 57,4252026-08-03 O 57,750 H 58,066 L 57,712 C 57,8622026-08-04 O 57,830 H 58,074 L 57,581 C 57,7162026-08-05 O 57,980 H 58,184 L 57,703 C 57,8322026-08-06 O 57,940 H 58,212 L 57,860 C 58,1802026-08-07 O 58,010 H 58,130 L 57,869 C 58,0202026-08-10 O 57,999 H 58,112 L 57,751 C 57,8732026-08-11 O 57,750 H 57,788 L 57,360 C 57,5762026-08-12 O 57,576 H 58,089 L 57,464 C 58,0072026-08-13 O 58,099 H 58,099 L 57,755 C 57,8612026-08-14 O 57,821 H 57,878 L 57,558 C 57,6962026-08-17 O 57,571 H 57,900 L 57,275 C 57,8362026-08-18 O 57,595 H 57,720 L 57,341 C 57,4332026-08-19 O 57,402 H 57,499 L 57,151 C 57,3502026-08-20 O 57,588 H 57,900 L 57,520 C 57,6392026-08-21 O 57,639 H 57,858 L 57,585 C 57,7222026-08-24 O 57,800 H 57,890 L 57,224 C 57,4372026-08-25 O 57,300 H 57,650 L 57,259 C 57,5032026-08-26 O 58,010 H 58,380 L 57,900 C 58,2212026-08-27 O 58,220 H 58,298 L 57,848 C 57,9032026-08-28 O 57,885 H 57,976 L 57,671 C 57,8592026-08-31 O 57,751 H 57,966 L 57,592 C 57,8872026-09-01 O 57,876 H 58,101 L 57,484 C 57,5872026-09-02 O 57,300 H 57,599 L 57,211 C 57,4942026-09-03 O 57,788 H 58,050 L 57,665 C 57,7132026-09-04 O 57,795 H 57,953 L 57,685 C 57,7752026-09-07 O 57,700 H 57,723 L 57,324 C 57,3842026-09-08 O 57,255 H 57,343 L 57,058 C 57,1282026-09-09 O 56,674 H 57,130 L 56,625 C 56,6932026-09-10 O 56,693 H 56,880 L 56,550 C 56,5962026-09-11 O 56,275 H 56,925 L 55,970 C 56,8692026-09-15 O 56,890 H 57,090 L 55,990 C 56,0792026-09-16 O 56,180 H 56,600 L 56,083 C 56,4082026-09-17 O 56,371 H 56,748 L 56,230 C 56,3102026-09-18 O 56,302 H 56,642 L 56,299 C 56,5272026-09-21 O 56,525 H 56,784 L 56,488 C 56,6372026-09-22 O 56,690 H 56,775 L 56,163 C 56,4912026-09-23 O 56,450 H 56,741 L 56,450 C 56,6862026-09-24 O 56,000 H 56,188 L 55,445 C 55,6162026-09-25 O 55,650 H 55,899 L 55,539 C 55,6642026-09-28 O 55,405 H 55,463 L 54,506 C 54,5562026-09-29 O 54,328 H 54,461 L 53,810 C 54,3022026-09-30 O 54,897 H 55,461 L 54,780 C 55,0062026-10-01 O 54,840 H 55,365 L 54,313 C 54,7952026-10-05 O 55,095 H 55,440 L 54,714 C 54,9232026-10-06 O 55,098 H 55,425 L 55,050 C 55,2472026-10-07 O 55,000 H 55,540 L 54,869 C 55,2502026-10-08 O 55,288 H 55,288 L 54,610 C 54,7392026-10-09 O 54,950 H 55,654 L 54,870 C 55,480Upper end 57,249Lower end 53,710Now 55,48016 Jul9 Oct
Lower end 53,494Now 55,257Upper end 57,019

Since 2024, Bank Nifty monthly ended inside its starting range 63% of the time (22 of 35 expiries). The rest of the time it ended outside.

Last 12 expiries: where it actually ended

Green bar: the range options expected at the start. Dot: where it ended (green = inside, red = outside).

10-28
58,102 ✗
11-25
58,817 ✓
12-30
59,170 ✓
01-27
59,205 ✓
02-24
61,019 ✓
03-30
49,196 ✗
04-28
55,156 ✗
05-26
55,092 ✓
06-30
57,490 ✓
07-28
56,750 ✓
08-25
57,509 ✓
09-29
54,164 ✗

Ended inside the range 8 of the last 12 times.

Busy levels: Most call contracts are open at 56,000 and most put contracts at 55,000. The "max pain" level is 55,600. These are just where most contracts sit, not guaranteed turning points.

Options are priced about normally right now.

All the numbers (for experienced traders)
ATM IV
14.6%
ATM IV vs previous day: -1.29 pts
IV rank
50%
Expected move
±3.19%
±1,765 points
ATM straddle
2.54%
PCR (OI)
1.01
Max pain
55,600
+0.6% from spot
Call / put wall
56,000 / 55,000
Gamma flip
-0.5%
from spot
Spot / Fut
55,257
Expiry
2026-10-27
18 Days left

ATM IV history (60)

17.0%10.2%2026-07-162026-10-09

Expected vs actual move, last 12 expiries

2025-10-28: Expected (options) 3.04%, Actual (absolute) 6.34%10-282025-11-25: Expected (options) 3.20%, Actual (absolute) 1.04%11-252025-12-30: Expected (options) 3.35%, Actual (absolute) 0.59%12-302026-01-27: Expected (options) 2.73%, Actual (absolute) 0.06%01-272026-02-24: Expected (options) 3.98%, Actual (absolute) 3.06%02-242026-03-30: Expected (options) 3.56%, Actual (absolute) 19.41%03-302026-04-28: Expected (options) 9.22%, Actual (absolute) 9.71%04-282026-05-26: Expected (options) 5.49%, Actual (absolute) 0.56%05-262026-06-30: Expected (options) 5.38%, Actual (absolute) 4.35%06-302026-07-28: Expected (options) 4.21%, Actual (absolute) 1.38%07-282026-08-25: Expected (options) 3.95%, Actual (absolute) 1.33%08-252026-09-29: Expected (options) 3.41%, Actual (absolute) 5.82%09-2919.4%Expected (options)Actual (absolute) (✓ / ✗)

This is a range implied by option prices, not a prediction. Price can end outside it and we do not say which way.

Free view shows the last 60 days. The full history comes with the free 5-day trial.

Common questions about Bank Nifty options

What is the Bank Nifty expected move today?

Using end-of-day data for 2026-10-09, options imply about ±3.19% for the monthly expiry on 2026-10-27. It is a range options price in, not a forecast of direction.

What is the Bank Nifty max pain?

For the monthly expiry on 2026-10-27, max pain is 55,600, about 0.6% above spot. Treat it as a reference point, not a target.

What is the Bank Nifty put call ratio (PCR)?

The open-interest PCR for the monthly expiry is 1.01. Above 1 means more put than call open interest. Readings are debated and it is not a signal.

Related

What we did NOT find: any reliable way to predict direction. This page is descriptive data, not a call.