Live Greeks · iVIX · AAV · Max Pain · PCR — Black-76 model
As of 03:52 am IST, MCX Crude Oil Max Pain sits at ₹9,200 for the 2026-11-17 expiry, with a Put-Call Ratio of 1.777 and implied volatility (iVIX) of 49.8% — the market is pricing roughly a ±₹1,340 move by expiry (1 standard deviation, 30d 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 |
4 | +4 | · | · | 899.00 | +76.60 | · | 8,450 | 51.46% | +2.90 | 181.30 | · | · | +333 | 333 |
673 | +673 | · | · | 1,084.20 | +2.50 | 52.16% | 8,500 | 51.15% | +0.30 | 192.10 | · | · | +6.8K | 6.8K |
6 | +6 | · | · | 671.40 | · | · | 8,550 | 50.91% | -1.20 | 204.00 | · | · | +224 | 224 |
43 | +43 | · | · | 1,000.30 | -1.90 | 50.6% | 8,600 | 51.09% | +0.50 | 220.00 | · | · | +761 | 761 |
7 | +7 | · | · | 670.10 | · | · | 8,650 | 51.29% | +4.40 | 237.00 | · | · | +122 | 122 |
134 | +134 | · | · | 930.30 | +11.00 | 50.44% | 8,700 | 50.67% | -0.70 | 247.40 | · | · | +1.2K | 1.2K |
9 | +9 | · | · | 922.20 | +20.10 | 53.19% | 8,750 | 50.78% | +1.00 | 265.00 | · | · | +159 | 159 |
132 | +132 | · | · | 859.90 | -12.00 | 49.95% | 8,800 | 50.49% | -0.50 | 279.50 | · | · | +1.7K | 1.7K |
4 | +4 | · | · | 710.90 | · | 37.24% | 8,850 | 50.94% | +1.60 | 301.80 | · | · | +101 | 101 |
201 | +201 | · | · | 801.80 | +1.10 | 50.47% | 8,900 | 50.39% | -1.70 | 315.20 | · | · | +1.7K | 1.7K |
44 | +44 | · | · | 772.70 | -10.00 | 50.59% | 8,950 | 50.78% | +1.50 | 338.50 | · | · | +304 | 304 |
2.1K | +2.1K | · | · | 744.00 | -8.00 | 50.68% | 9,000 | 50.48% | -0.70 | 355.70 | · | · | +7.3K | 7.3K |
64 | +64 | · | · | 722.10 | +4.40 | 51.37% | 9,050 | 50.44% | -1.20 | 376.20 | · | · | +672 | 672 |
1.5K | +1.5K | · | · | 691.90 | -4.90 | 51.15% | 9,100 | 50.74% | +1.60 | 401.00 | · | · | +2.4K | 2.4K |
136 | +136 | · | · | 664.40 | -3.20 | 51.13% | 9,150 | 50.97% | +1.70 | 425.80 | · | · | +664 | 664 |
1.2K | +1.2K | · | · | 637.10 | -5.70 | 51.06% | 9,200 MAX PAIN | 50.76% | -0.50 | 446.80 | · | · | +1.7K | 1.7K |
141 | +141 | · | · | 607.70 | -8.20 | 50.72% | 9,250 | 51.06% | +1.20 | 473.90 | · | · | +613 | 613 |
706 | +706 | · | · | 585.00 | -7.10 | 50.95% | 9,300 | 51.1% | +1.00 | 499.00 | · | · | +1.2K | 1.2K |
119 | +119 | · | · | 560.20 | -9.00 | 50.91% | 9,350 | 50.97% | -1.10 | 523.00 | · | · | +392 | 392 |
1.6K | +1.6K | · | · | 537.70 | -7.70 | 51.01% | 9,400 ATM | 51.05% | +0.30 | 550.00 | · | · | +1.4K | 1.4K |
161 | +161 | · | · | 513.10 | -10.30 | 50.85% | 9,450 | 51.49% | +2.70 | 581.60 | · | · | +112 | 112 |
3.0K | +3.0K | · | · | 486.10 | -16.50 | 50.4% | 9,500 | 51.47% | +0.80 | 609.00 | · | · | +1.2K | 1.2K |
114 | +114 | · | · | 473.30 | -9.90 | 51.22% | 9,550 | 51.73% | +3.30 | 640.00 | · | · | +29 | 29 |
477 | +477 | · | · | 455.30 | -6.60 | 51.48% | 9,600 | 51.35% | +46.80 | 665.00 | · | · | +157 | 157 |
119 | +119 | · | · | 436.20 | -7.60 | 51.58% | 9,650 | 51.61% | +8.10 | 697.40 | · | · | +25 | 25 |
290 | +290 | · | · | 419.60 | -6.40 | 51.85% | 9,700 | 51.1% | -7.20 | 722.30 | · | · | +39 | 39 |
72 | +72 | · | · | 395.70 | -11.60 | 51.36% | 9,750 | 51.66% | -2.30 | 759.20 | · | · | +30 | 30 |
265 | +265 | · | · | 386.80 | -5.30 | 52.24% | 9,800 | 51.42% | -3.30 | 788.40 | · | · | +35 | 35 |
29 | +29 | · | · | 366.90 | -8.90 | 52.01% | 9,850 | 51.98% | -2.30 | 826.50 | · | · | +6 | 6 |
168 | +168 | · | · | 355.00 | -4.50 | 52.5% | 9,900 | 52.31% | -79.00 | 862.80 | · | · | +54 | 54 |
27 | +27 | · | · | 336.90 | -8.90 | 52.32% | 9,950 | · | +123.40 | 1,003.30 | · | · | · | · |
3.6K | +3.6K | · | · | 325.00 | -6.50 | 52.7% | 10,000 | 51.66% | -1.90 | 923.80 | · | · | +475 | 475 |
26 | +26 | · | · | 315.00 | -4.70 | 53.22% | 10,050 | · | +126.70 | 1,088.10 | · | · | · | · |
114 | +114 | · | · | 296.70 | -6.90 | 52.85% | 10,100 | · | +128.20 | 1,131.30 | · | · | · | · |
22 | +22 | · | · | 292.00 | -1.50 | 53.82% | 10,150 | · | +129.60 | 1,175.00 | · | · | · | · |
155 | +155 | · | · | 270.20 | -9.20 | 52.97% | 10,200 | · | +131.00 | 1,219.20 | · | · | · | · |
11 | +11 | · | · | 261.10 | -8.20 | 53.38% | 10,250 | · | +132.20 | 1,263.80 | · | · | · | · |
149 | +149 | · | · | 247.50 | -10.30 | 53.27% | 10,300 | · | +133.50 | 1,308.90 | · | · | · | · |
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.