F&O intelligence
Research tool · not investment advice. Full disclaimer →
Positioning across the segment
breadth, the ban list, industry balance and every name's positioning rowSource: fno_positioning_day.
The derivatives book says where positions stand — never what happens next. Descriptive only. What this workspace can and cannot know →
Evidence · hover a tag for what it means: observed: open interest · ban state · market-wide limitsderived: counts · own-history percentiles · industry ratios · zonesinferred: cash and options relation · open-position breakevensunknowable: who holds either side · which strategy glossary →
Segment breadth
who is building across all F&O names, and how hardSource: fno_positioning_day.
Bottom lineOf 213 F&O names on 2026-10-01: 19 long build-up, 68 short build-up, 30 short covering, 54 long unwinding, 42 flat. 22 moved at aggressive size for their own history.
| Futures action today | Names | Aggressive size?F&O intensity (ordinary · aggressive · very aggressive)The size of a futures open-interest change ranked against the SAME stock's own earlier changes of the same length: aggressive = 80th percentile or more, very aggressive = 95th or more; unknown below 60 earlier sessions (20 earlier windows for 5- and 20-session reads). A day…F&O positioning — per stock (futures build-up, option book, rollover) | Cash tape confirms | Options confirm | |
|---|---|---|---|---|---|
| Long build-up | 19 | 3 | 1 | 1 | show → |
| Short build-up | 68 | 13 | 45 | 15 | show → |
| Short covering | 30 | 1 | 5 | 7 | show → |
| Long unwinding | 54 | 5 | 35 | 14 | show → |
| Flat | 42 | 0 | 0 | 0 |
In plain EnglishAcross the last 20 sessions the whole segment logged 1155 long-side days (long build-up or short covering) and 1599 short-side days. Size is ranked against each stock's own history; a confirmation means the cash tape or the near-money option book pointed the same way that day.
Ban list and names near the limit
the exchange's own ban state and the share of the limit in useSource: fno_mwpl.
Bottom line3 names are in the exchange ban and 5 more sit at 80% or more of their market-wide position limit, as of 2026-10-01.
In the ban — no fresh positions next session
| Stock | Limit used?MWPL usedFutures-equivalent open interest as a share of the market-wide position limit. The exchange bans fresh positions above 95% and lifts the ban only below 80%, so a name can stay banned between the two. Raw open interest is not the ban measure. source: fno_mwpl.F&O positioning — per stock (futures build-up, option book, rollover) | Change, 5 sessions | Sessions in this state |
|---|---|---|---|
| AMBUJACEM | 96.7% | +14.4 pts | 1 |
| BANDHANBNK | 90.9% | +1.2 pts | 2 |
| SAIL | 81.3% | -5.9 pts | 25 |
At 80% or more, not banned
| Stock | Limit used?MWPL usedFutures-equivalent open interest as a share of the market-wide position limit. The exchange bans fresh positions above 95% and lifts the ban only below 80%, so a name can stay banned between the two. Raw open interest is not the ban measure. source: fno_mwpl.F&O positioning — per stock (futures build-up, option book, rollover) | Change, 5 sessions | Sessions in this state |
|---|---|---|---|
| LICHSGFIN | 89.0% | -2.0 pts | 2 |
| IDEA | 82.9% | +14.2 pts | 1 |
| KAYNES | 82.2% | -15.7 pts | 1 |
| INOXWIND | 81.7% | -0.1 pts | 7 |
| MANAPPURAM | 80.9% | -3.1 pts | 2 |
In plain EnglishThe exchange bans fresh positions when futures-equivalent open interest passes 95% of the market-wide limit, and lifts the ban only when it falls below 80%. So a name can stay banned between the two, and a name at 80% or more is close to the edge.
Index option books
where the index books sit, by money and by countSource: fno_index_option_strikes · fno_index_futures.
What this table reads?Index option bookFor each index (NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY, NIFTYNXT50 and any other listed), the nearest expiry's options on the latest session: put/call ratio by open interest and by rupees at risk (out-of-the-money strikes only), max pain by the same formula every stock row…F&O positioning — per stock (futures build-up, option book, rollover)
| Index | Nearest expiry | Spot | Futures action | Basis | PCR (OI) | PCR (money)?Money PCRPut rupees at risk divided by call rupees at risk, out-of-the-money strikes only — an in-the-money premium is mostly intrinsic value, which measures how far price has moved, not money put at risk on a view. source: computed on read from fno_option_strikes.F&O positioning — per stock (futures build-up, option book, rollover) | Max pain | Put walls: money?Walls by moneyOut-of-the-money option strikes within two expected-move bands of price, ranked by rupees at risk (open interest × premium) instead of by contract count. Many cheap far-away contracts can rank high by count and low by money; the two rankings are shown side by side because…F&O positioning — per stock (futures build-up, option book, rollover) | Call walls: money | Contracts added: calls / puts |
|---|---|---|---|---|---|---|---|---|---|---|
| NIFTY | 2026-10-06 | 22422.0 | Short build-up OI +6.87% · price -0.88% | +0.48% | 0.69 | 0.66 | 22550 | 22300, 22400 count: 22000, 21500 | 22500, 22600 count: 23000, 23500 | +474142 / +424867 |
| BANKNIFTY | 2026-10-27 | 54450.8 | Long unwinding OI -1.65% · price -0.33% | +0.63% | 0.86 | 0.41 | 56000 | 54000, 53000 count: 52000, 54000 | 55000, 56000 count: 58000, 56000 | +28865 / +20238 |
| FINNIFTY | 2026-10-27 | 24556.1 | Short build-up OI +5.99% · price -0.38% | +0.59% | 0.70 | 0.57 | 24700 | 24400, 24500 count: 24400, 24500 | 25200, 25000 count: 25200, 25000 | +1838 / +1264 |
| MIDCPNIFTY | 2026-10-27 | 13562.8 | Long unwinding OI -0.03% · price -1.23% | +0.40% | 0.85 | 0.62 | 13900 | 13500, 13000 count: 12500, 13000 | 14000, 13900 count: 14500, 14000 | +5691 / +2592 |
| NIFTYNXT50 | 2026-10-27 | 68981.4 | Short build-up OI +6.57% · price -1.10% | +0.33% | 0.67 | 0.00 | 69200 | — count: — | 70000, 71000 count: 70000, 71000 | +5 / -4 |
| NIFTYFPI | 2026-10-27 | 1456.0 | Flat OI 0.00% · price -0.94% | +1.65% | 0.33 | 0.43 | 1350 | 1350 count: 1350 | 1580 count: 1580 | -1 / +1 |
In plain EnglishEach index's nearest-expiry option book on 2026-10-01. Walls are out-of-the-money strikes, ranked first by rupees at risk and then, in grey, by contract count. Index implied volatility is not in the estate yet, so no expected-move band is drawn for indices.
Put/call balance by industry
each industry against its own historySource: NSE F&O open interest · classification.
| Industry | F&O names | Pooled put/call ratio | Percentile, own history?PCR vs peersThe stock's all-expiry put/call ratio divided by the pooled ratio of the F&O names in its own industry (or its sector when the industry has fewer than four F&O names), and that relative ratio ranked against its own history. A stock is compared only with itself and its own…F&O positioning — per stock (futures build-up, option book, rollover) | Change, 5 sessions | |
|---|---|---|---|---|---|
| Automobile and Auto Components | 16 | 0.63 | 46 | +0.01 | names → |
| Capital Goods | 24 | 0.62 | 58 | +0.14 | names → |
| Chemicals | 5 | 0.68 | 61 | -0.06 | names → |
| Construction Materials | 4 | 0.68 | 49 | +0.05 | names → |
| Consumer Durables | 10 | 0.68 | 68 | +0.06 | names → |
| Consumer Services | 9 | 0.61 | 33 | -0.06 | names → |
| Fast Moving Consumer Goods | 14 | 0.73 | 96 | +0.06 | names → |
| Financial Services | 57 | 0.74 | 81 | +0.09 | names → |
| Healthcare | 16 | 0.74 | 89 | +0.10 | names → |
| Information Technology | 13 | 0.75 | 83 | +0.12 | names → |
| Metals & Mining | 10 | 0.67 | 47 | -0.03 | names → |
| Oil Gas & Consumable Fuels | 9 | 0.69 | 72 | +0.10 | names → |
| Power | 8 | 0.73 | 91 | +0.12 | names → |
| Realty | 6 | 0.76 | 74 | +0.02 | names → |
| Services | 5 | 0.86 | 98 | +0.12 | names → |
In plain EnglishEach industry's put and call open interest pooled across its F&O names, read against that industry's own past — an industry that is always put-heavy is not unusual for being put-heavy today. Industries with fewer than four F&O names are left out.
The positioning screen
filter by what the tape shows; the default order is A–ZSource: fno_positioning_day.
Long build-up 19Short build-up 68Short covering 30Long unwinding 54Aggressive size today 22Cash tape confirms 86Options confirm 37Books agree, none disagree 115Put wall by money differs from by count 60Within half an ATR of support 188Within half an ATR of resistance 197Banned or at 80% of the limit 8
Order: A–Z · PCR against own history · PCR against industry · Closest to support · Closest to resistance · IV against own history · Ban limit used · Held longest
16 of 213 names · industry: Healthcare · data as of 2026-10-01. Sessions 2026-09-03 → 2026-10-01, the same window on every row; a gap is a session with no record.
| Stock | Last 20 sessions | Action | Size?F&O intensity (ordinary · aggressive · very aggressive)The size of a futures open-interest change ranked against the SAME stock's own earlier changes of the same length: aggressive = 80th percentile or more, very aggressive = 95th or more; unknown below 60 earlier sessions (20 earlier windows for 5- and 20-session reads). A day…F&O positioning — per stock (futures build-up, option book, rollover) | Cash | Options | Held | Long / short days, 20 | Aggressive long / short, 20 | PCRTotal put OI ÷ total call OI. >1 = more puts open than calls (hedging / contrarian floor); <1 = call-heavy. A sentiment read, not a verdict. | PCR pctl, own?PCR percentile (own history)Today's put/call OI ratio ranked 0–100 vs the stock's own history — how extreme the hedging/fear is for THIS name, not a fixed threshold that treats every stock alike. The one F&O read the Phase-0 gate found a small forward edge in (contrarian; forward-test-only). source:…F&O Open Interest — positioning (derivatives) | PCR vs industry?PCR vs peersThe stock's all-expiry put/call ratio divided by the pooled ratio of the F&O names in its own industry (or its sector when the industry has fewer than four F&O names), and that relative ratio ranked against its own history. A stock is compared only with itself and its own…F&O positioning — per stock (futures build-up, option book, rollover) | Nearest support?Confluence zonePrice levels from four independent sources — floor pivots (daily, weekly, monthly), option walls ranked by money, the open-position breakeven of those walls, and the edges of the ATR and IV-implied expected move — grouped when closer than a quarter of a daily ATR, never…F&O positioning — per stock (futures build-up, option book, rollover) | Nearest resistance?Confluence zonePrice levels from four independent sources — floor pivots (daily, weekly, monthly), option walls ranked by money, the open-position breakeven of those walls, and the edges of the ATR and IV-implied expected move — grouped when closer than a quarter of a daily ATR, never…F&O positioning — per stock (futures build-up, option book, rollover) | Put wall: money / count?Walls by moneyOut-of-the-money option strikes within two expected-move bands of price, ranked by rupees at risk (open interest × premium) instead of by contract count. Many cheap far-away contracts can rank high by count and low by money; the two rankings are shown side by side because…F&O positioning — per stock (futures build-up, option book, rollover) | ATM IV?At-the-money implied volatilityAnnualised implied volatility in percent, inverted from the traded premium of the listed strike nearest the matched forward for one expiry. Inverted from traded rows only — an exchange theoretical price is barred from it, because a price nobody paid is not evidence of what…F&O Open Interest — positioning (derivatives) | IV pctl?IV percentile (own 2 years)The share of this name's own at-the-money IV observations over the trailing two years that sat below today's, as a percent of the observations counted: 100 × (observations below today) ÷ (observations). So 90% means only a tenth of that history was higher. Left blank below…F&O Open Interest — positioning (derivatives) | Limit used?MWPL usedFutures-equivalent open interest as a share of the market-wide position limit. The exchange bans fresh positions above 95% and lifts the ban only below 80%, so a name can stay banned between the two. Raw open interest is not the ban measure. source: fno_mwpl.F&O positioning — per stock (futures build-up, option book, rollover) | Roll pace pctl?Roll paceThe share of the futures book already in later expiries today, ranked against earlier series at the SAME number of sessions before their expiry — like with like, because the share rises mechanically as expiry nears. Sessions ahead are counted as weekdays; exchange holidays…F&O positioning — per stock (futures build-up, option book, rollover) | SLB open?SLB open positionsShares lent and still outstanding in the exchange's Securities Lending and Borrowing segment at the end of the day, summed across tenure series, with the change over five lending sessions (in lakh shares). Lent shares are commonly borrowed to deliver against short sales or to…F&O positioning — per stock (futures build-up, option book, rollover) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALKEM | price +0.5% · OI +20.0%△ short covering · ordinary · 1 sessioncash – neutral · options ✗ opposes | Short covering | ordinary | neutral | opposes | 1 | 7 / 4 | 4 / 2 | 0.89 | 85 | 1.20× 70 pctl | 5183.4 -0.29 ATR · 2 | 5248.1 +0.22 ATR · 2 | 5200 / 5200 | 20.5% -1.2 | 22 | 23.1% | 40 | 0.0 L +0.0 |
| APOLLOHOSP | price -6.4% · OI -18.6%▽ long unwinding · ordinary · 3 sessionscash ✓ confirms · options ✓ confirms | Long unwinding | ordinary | confirms | confirms | 3 | 2 / 9 | 0 / 0 | 0.60 | 33 | 0.81× 12 pctl | 8100.0 -0.17 ATR · 1 | 8204.5 +0.36 ATR · 2 | 8000 / 8000 | 23.1% +8.6 | 75 | 17.6% | 90 | 0.0 L — |
| AUROPHARMA | price +2.4% · OI +11.7%● flat · ordinary · 1 sessioncash – neutral · options ? no reading | Flat | ordinary | neutral | missing | 1 | 7 / 7 | 2 / 4 | 0.55 | 13 | 0.74× 3 pctl | 1675.1 -0.04 ATR · 1 | 1679.8 +0.08 ATR · 1 | 1660 / 1660 | 26.0% +5.8 | 35 | 34.7% | 40 | 0.2 L +0.0 |
| BIOCON | price -7.8% · OI +4.4%△ short covering · ordinary · 1 sessioncash ✗ opposes · options ✓ confirms | Short covering | ordinary | opposes | confirms | 1 | 5 / 7 | 1 / 1 | 0.83 | 91 | 1.12× 80 pctl | 369.7 -0.11 ATR · 2 | 376.0 +0.58 ATR · 1 | 360 / 360 | 24.3% +2.4 | 18 | 54.0% | 50 | 1.7 L +1.2 |
| CIPLA | price -3.6% · OI -13.1%● flat · ordinary · 2 sessionscash – neutral · options – neutral | Flat | ordinary | neutral | neutral | 2 | 4 / 8 | 1 / 0 | 0.61 | 44 | 0.83× 26 pctl | 1339.3 -0.18 ATR · 2 | 1346.7 +0.10 ATR · 2 | 1340 / 1340 | 22.6% +4.8 | 59 | 17.7% | 90 | 0.2 L +0.0 |
| DIVISLAB | price -0.0% · OI +36.6%▼ short build-up · ordinary · 1 sessioncash ✗ opposes · options ✓ confirms | Short build-up | ordinary | opposes | confirms | 1 | 6 / 8 | 4 / 3 | 0.58 | 17 | 0.78× 3 pctl | 9211.2 -0.19 ATR · 2 | 9336.2 +0.44 ATR · 1 | 9000 / 8500 | 24.8% +3.8 | 56 | 26.9% | 80 | 0.1 L +0.0 |
| DRREDDY | price +4.4% · OI +4.4%▽ long unwinding · ordinary · 1 sessioncash – neutral · options ✗ opposes | Long unwinding | ordinary | neutral | opposes | 1 | 4 / 7 | 0 / 0 | 0.76 | 86 | 1.02× 74 pctl | 1202.2 -0.16 ATR · 2 | 1215.7 +0.37 ATR · 2 | 1200 / 1200 | 25.8% +10.5 | 76 | 25.2% | 20 | 130.7 L +9.6 |
| FORTIS | price -14.4% · OI -0.5%△ short covering · ordinary · 1 sessioncash ✗ opposes · options ✓ confirms | Short covering | ordinary | opposes | confirms | 1 | 5 / 6 | 0 / 1 | 0.87 | 93 | 1.18× 75 pctl | 780.5 -0.18 ATR · 2 | 796.5 +0.45 ATR · 2 | 780 / 780 | 28.2% +8.7 | 64 | 19.6% | 80 | 0.0 L 0.0 |
| GLENMARK | price -5.2% · OI -4.4%▽ long unwinding · ordinary · 5 sessionscash – neutral · options ✓ confirms | Long unwinding | ordinary | neutral | confirms | 5 | 5 / 6 | 1 / 0 | 0.64 | 39 | 0.87× 19 pctl | 2323.4 -0.11 ATR · 1 | 2336.3 +0.08 ATR · 1 | 2300 / 2300 | 26.6% +4.8 | 35 | 65.4% | 5 | 0.7 L +0.4 |
| LAURUSLABS | price +6.2% · OI +1.3%▲ long build-up · ordinary · 1 sessioncash ✗ opposes · options ? no reading | Long build-up | ordinary | opposes | missing | 1 | 9 / 5 | 1 / 2 | 0.73 | 56 | 0.98× 30 pctl | 1981.0 -0.06 ATR · 1 | 2009.3 +0.53 ATR · 2 | 1900 / 1800 | 32.3% +14.8 | 62 | 36.0% | 70 | 33.6 L +0.0 |
| LUPIN | price -4.7% · OI -4.7%● flat · ordinary · 2 sessionscash – neutral · options – neutral | Flat | ordinary | neutral | neutral | 2 | 2 / 5 | 0 / 2 | 0.82 | 81 | 1.10× 57 pctl | 2024.9 -0.16 ATR · 2 | 2049.7 +0.46 ATR · 1 | 2000 / 2000 | 21.0% +5.6 | 24 | 22.1% | 80 | 0.1 L +0.0 |
| MANKIND | price +7.0% · OI -0.5%▲ long build-up · aggressive · 1 sessioncash – neutral · options ✗ opposes | Long build-up | aggressive | neutral | opposes | 1 | 6 / 10 | 1 / 1 | 0.92 | 96 | 1.24× 91 pctl | 2507.0 -0.44 ATR · 2 | 2548.9 +0.22 ATR · 2 | 2500 / 2300 | 26.5% +7.0 | 42 | 18.1% | 30 | 0.1 L +0.1 |
| MAXHEALTH | price -5.4% · OI -2.2%△ short covering · ordinary · 1 sessioncash ✓ confirms · options ✓ confirms | Short covering | ordinary | confirms | confirms | 1 | 7 / 6 | 0 / 1 | 0.80 | 83 | 1.09× 64 pctl | 933.2 -0.26 ATR · 2 | 950.0 +0.30 ATR · 2 | 900 / 900 | 29.3% +9.3 | 52 | 13.6% | 60 | 1.4 L +0.7 |
| SUNPHARMA | price -5.8% · OI +0.8%▼ short build-up · ordinary · 2 sessionscash ✓ confirms · options ✓ confirms | Short build-up | ordinary | confirms | confirms | 2 | 4 / 9 | 0 / 1 | 0.79 | 87 | 1.06× 80 pctl | 1799.7 -0.04 ATR · 2 | 1807.4 +0.20 ATR · 1 | 1780 / 1780 | 18.2% +3.1 | 55 | 15.5% | 70 | 0.6 L +0.0 |
| TORNTPHARM | price -2.8% · OI +4.9%● flat · ordinary · 1 sessioncash – neutral · options – neutral | Flat | ordinary | neutral | neutral | 1 | 5 / 6 | 0 / 0 | 0.80 | 87 | 1.08× 74 pctl | 4761.3 -0.05 ATR · 2 | 4806.1 +0.35 ATR · 2 | 4700 / 4500 | 21.6% +3.9 | 32 | 16.1% | 90 | 0.5 L +0.1 |
| ZYDUSLIFE | price +0.2% · OI -20.5%▽ long unwinding · ordinary · 1 sessioncash – neutral · options ✗ opposes | Long unwinding | ordinary | neutral | opposes | 1 | 8 / 5 | 3 / 0 | 0.56 | 16 | 0.76× 2 pctl | 1141.8 -0.12 ATR · 2 | 1161.8 +0.51 ATR · 1 | 1140 / 1100 | 27.6% +6.0 | 77 | 24.2% | 30 | 0.9 L +0.2 |
In plain EnglishOne row per F&O name, from the same read as each stock's own page. Support and resistance are the nearest zones where several kinds of evidence agree, with their distance in daily ATRs and how many kinds agree. Put wall: money / count puts the strike holding the most rupees at risk beside the strike holding the most contracts; when they differ, cheap far-away contracts are inflating the count.
Download this view (CSV) → · click a stock for its full positioning read
Honest boundaryThe exchange publishes totals, so these readings describe open positions as a whole and never who is on either side; tested as predictors, put/call ratio, OI change and max pain did not hold up as tradeable predictors · descriptive, not a signal.
Evidence · hover a tag for what it means: observed: open interest · ban state · limitsderived: counts · percentiles · industry ratios · zonesinferred: cash and options relation · breakevensunknowable: who holds either side · which strategy glossary →