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OPTION CHAIN PADHNA — TABLE SE KAHANI TAK

Strikes, premiums, OI aur volume ka wo hissa jo actually kaam ka hai

Published by The Retail Trader · AUG 09, 2026 · Features

Option chain pehli baar dekhne par ek Excel sheet ki tarah lagta hai jise kisi ne rang de diye hain. Par uska structure bahut simple hai: beech mein strikes, ek taraf calls, doosri taraf puts. Bas itna.

LAYOUT — TEEN HISSE, BAS

Beech ka column strike prices ka hai, upar se neeche badhta hua. Ek taraf har strike ke call ka data hota hai, doosri taraf put ka. Spot price ke aas-paas wali rows ATM zone hai — wahi sabse zyada active hoti hain.

Dono taraf lagbhag ek jaise columns hote hain: last traded price, change, volume, aur open interest. Zyadatar log inhi chaar ko dekhkar 90% kaam nikal lete hain.

PREMIUM KA SHAPE KHUD BOL DETA HAI

Spot se door ke strikes ka premium kam hota jaata hai. Agar aap dekho ki spot se sirf thoda door ka option bhi lagbhag muft dikh raha hai, to market us move ki umeed hi nahi kar raha. Aur agar door ke strikes bhi mehnge hain, to market kisi bade jhatke ka bhaav laga raha hai.

VOLUME AUR OPEN INTEREST EK CHEEZ NAHI HAIN

Farq yaad rakhne layak hai:
• Volume — aaj kitne contracts trade hue. Ye din ke ant mein reset ho jaata hai.
• Open interest — abhi kitne contracts khule pade hain. Ye din-ba-din carry hota hai.
• Zyada volume par kam OI — din bhar aaya-gaya hua, position nahi bani. Intraday activity.
• Badhta hua OI — nayi positions ban rahi hain. Yahin commitment dikhta hai.

SABSE ZYADA OI WALE STRIKES KYA BATATE HAIN

Jis call strike par sabse zyada OI hai, wo aksar tatkalik resistance zone ki tarah dekha jaata hai; sabse zyada put OI wala strike support zone ki tarah. Iska tark ye hai ki us level par bechne walon ka sabse bada exposure hai aur wo use bachane ki koshish karte hain.

Par isse rule mat banao. Ye zone roz badalte hain, aur ek badi news inhe ek jhatke mein todkar aage nikal jaati hai. OI ek naqsha hai, deewar nahi.

BID-ASK SPREAD — WO COLUMN JISE LOG SABSE ZYADA IGNORE KARTE HAIN

Door ke strikes mein aksar bid aur ask ke beech bada gap hota hai. Aap wahan enter karte hi loss mein hote ho, sirf spread ki wajah se — bina market ke ek point hile.

Isliye strike chunte waqt sirf premium ka bhaav mat dekho, ye bhi dekho ki wahan trade ho bhi raha hai ya nahi. Ek sasta option jise nikaalne ke liye kharidaar hi na ho, sasta nahi hai.

Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.

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