11.32What is an option chain?
1What is it?
An option chain is a table listing all strikes for an expiry, with calls on one side and puts on the other, showing premium (LTP), OI, volume and IV.
2Why does it exist?
It is the main screen for options traders: you choose strikes and read market positioning from it.
3Diagram
9:41Option chain●●●
NIFTY · Spot 25,000 · illustrative
Call OICall LTPStrikePut LTPPut OI
1.2L41024,600450.8L
2.5L27024,800951.9L
4.1L16025,0001803.6L
3.0L8525,2003051.4L
2.2L4025,4004600.6L
Illustrative screen · prices are made up
4Quick revision
- All strikes for an expiry.
- Calls left, puts right.
- Shows LTP, OI, IV.
5Knowledge check
Q1. What sits in the middle of an option chain?Show answer
The strike prices.
Q2. Name two data points shown.Show answer
Premium (LTP), OI, change in OI, volume, IV.
Q3. Where is the official chain?Show answer
NSE website (option chain page).