Live Greeks · iVIX · AAV · Max Pain · PCR — Black-76 model
As of 02:45 am IST, MCX Copper Max Pain sits at ₹1,400 for the 2026-10-23 expiry, with a Put-Call Ratio of 0.708 and implied volatility (iVIX) of 19.1% — the market is pricing roughly a ±₹31 move by expiry (1 standard deviation, 5d away). See the margin requirements and rollover mechanics for the underlying futures contract.
| Calls (CE) | Strike | Puts (PE) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OI | Chng OI | Vol | Bid/Ask | LTP | Chng | IV% | Price | IV% | Chng | LTP | Bid/Ask | Vol | Chng OI | OI |
· | · | · | · | 103.80 | +5.13 | · | 1,300 | 29.71% | -0.01 | 0.22 | · | · | +625 | 625 |
· | · | · | · | 83.83 | +5.13 | · | 1,320 | 22.79% | · | 0.13 | · | · | +1 | 1 |
· | · | · | · | 73.86 | +5.13 | · | 1,330 | 26.31% | +0.66 | 0.68 | · | · | +2 | 2 |
· | · | · | · | 63.93 | +5.14 | · | 1,340 | 16.44% | +0.01 | 0.07 | · | · | +1 | 1 |
30 | +30 | · | · | 53.58 | -3.26 | 23.35% | 1,350 | 22.51% | +0.09 | 1.14 | · | · | +886 | 886 |
3 | +3 | · | · | 41.48 | -0.09 | · | 1,360 | 21.53% | +0.03 | 1.80 | · | · | +414 | 414 |
9 | +9 | · | · | 32.72 | +0.57 | 12.47% | 1,370 | 19.34% | -0.31 | 2.37 | · | · | +275 | 275 |
38 | +38 | · | · | 26.37 | +1.31 | 18.91% | 1,380 | 17.82% | -0.61 | 3.56 | · | · | +331 | 331 |
109 | +109 | · | · | 17.53 | -0.20 | 15.93% | 1,390 | 18.27% | -0.17 | 6.60 | · | · | +266 | 266 |
965 | +965 | · | · | 12.10 | +0.63 | 16.93% | 1,400 ATM | 17.78% | -0.42 | 10.35 | · | · | +878 | 878 |
526 | +526 | · | · | 7.27 | -0.07 | 16.5% | 1,410 | 16.25% | -1.45 | 14.81 | · | · | +121 | 121 |
705 | +705 | · | · | 4.31 | -0.04 | 16.88% | 1,420 | 17.2% | -0.88 | 22.17 | · | · | +400 | 400 |
475 | +475 | · | · | 2.90 | +0.28 | 18.41% | 1,430 | 19.9% | -0.26 | 31.24 | · | · | +56 | 56 |
231 | +231 | · | · | 1.87 | +0.23 | 19.49% | 1,440 | 22.45% | -3.45 | 40.60 | · | · | +23 | 23 |
927 | +927 | · | · | 1.09 | +0.02 | 20.03% | 1,450 | 23.87% | +0.09 | 49.80 | · | · | +124 | 124 |
184 | +184 | · | · | 0.78 | -0.03 | 21.51% | 1,460 | · | -5.00 | 56.19 | · | · | · | · |
163 | +163 | · | · | 0.56 | -0.08 | 22.87% | 1,470 | · | -5.09 | 66.04 | · | · | · | · |
156 | +156 | · | · | 0.42 | -0.06 | 24.29% | 1,480 | · | -5.13 | 75.97 | · | · | · | · |
15 | +15 | · | · | 0.30 | -0.72 | 25.5% | 1,490 | · | -5.15 | 85.93 | · | · | · | · |
1.2K | +1.2K | · | · | 0.29 | -0.02 | 27.64% | 1,500 | · | -5.16 | 95.91 | · | · | · | · |
9 | +9 | · | · | 0.02 | -0.16 | 22.43% | 1,510 | · | -5.15 | 105.90 | · | · | · | · |
Max Pain is the strike price where the options market is putting the least weight behind a big move. Traders watch it because MCX prices often gravitate toward the Max Pain strike as expiry approaches, though it is not a guarantee.
iVIX is the implied volatility the options market is currently pricing in, derived from live MCX option premiums using the Black-76 model. AAV (Annualized Actual Volatility) is BhaavBrief's read on how much a commodity has actually moved recently — an estimate that can differ by a few points from the figure the exchange publishes. Comparing the two shows the volatility premium — whether options are pricing in more or less movement than has actually occurred recently.
PCR (Put-Call Ratio) reflects how options positioning is leaning across puts and calls for an expiry. Extreme readings are sometimes treated as a contrarian indicator near market turning points.
MCX options are options on futures contracts, not on spot. Black-76 (the Black model) prices options directly off the futures price and is the standard for commodity and futures options worldwide, whereas Black-Scholes assumes an option on a spot asset with a continuous dividend/cost-of-carry adjustment. Using Black-76 gives more accurate implied volatility and Greeks for MCX Gold, Silver, Crude Oil and other futures-based options.