Live Greeks · iVIX · AAV · Max Pain · PCR — Black-76 model
As of 12:29 am IST, MCX Crude Oil Mini Max Pain sits at ₹8,800 for the 2026-10-15 expiry, with a Put-Call Ratio of 0.897 and implied volatility (iVIX) of 60.7% — the market is pricing roughly a ±₹1,073 move by expiry (1 standard deviation, 15d 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 |
1 | · | 3 | · | 1,007.40 | -16.35 | 66.43% | 7,850 | 61.7% | -0.55 | 114.65 | · | 8.7K | +83 | 402 |
3 | · | · | · | 1,006.40 | · | 73.46% | 7,900 | 61.04% | -0.75 | 122.65 | · | 29.4K | +574 | 1.9K |
3 | · | 9 | · | 841.85 | -30.20 | 47.56% | 7,950 | 60.88% | -1.25 | 133.70 | · | 15.6K | +498 | 1.4K |
552 | +28 | 1.8K | · | 867.35 | -5.35 | 60.98% | 8,000 | 61.19% | +2.55 | 148.00 | · | 1.5L | +4.1K | 14.1K |
1 | · | 5 | · | 779.75 | -7.10 | 51.23% | 8,050 | 60.29% | -0.35 | 156.60 | · | 12.7K | +198 | 632 |
74 | · | 122 | · | 808.05 | -34.20 | 63.22% | 8,100 | 60.18% | +1.00 | 170.15 | · | 29.8K | +1.1K | 2.1K |
48 | +25 | 421 | · | 775.00 | +6.20 | 63.44% | 8,150 | 59.77% | +1.25 | 182.80 | · | 14.5K | +335 | 730 |
109 | +62 | 1.6K | · | 720.75 | -9.95 | 59.98% | 8,200 | 59.86% | +3.10 | 199.20 | · | 34.1K | +683 | 3.2K |
104 | +88 | 1.4K | · | 694.35 | -11.75 | 61.07% | 8,250 | 59.5% | +2.10 | 213.70 | · | 15.4K | +478 | 1.2K |
95 | +22 | 5.0K | · | 655.20 | -4.15 | 59.94% | 8,300 | 59.6% | +4.50 | 231.95 | · | 40.3K | +634 | 2.3K |
99 | +67 | 4.5K | · | 621.65 | -2.00 | 59.58% | 8,350 | 58.87% | +3.75 | 245.85 | · | 30.2K | +990 | 1.9K |
109 | · | 7.1K | · | 585.25 | -11.45 | 58.66% | 8,400 | 58.91% | +2.65 | 265.55 | · | 58.5K | +819 | 3.3K |
183 | +32 | 5.5K | · | 553.70 | -11.35 | 58.36% | 8,450 | 59.44% | +8.05 | 289.45 | · | 29.2K | +663 | 1.5K |
2.0K | · | 39.8K | · | 523.05 | -12.45 | 58.06% | 8,500 | 58.56% | +4.75 | 304.90 | · | 2.0L | +4.6K | 15.1K |
558 | +169 | 43.4K | · | 493.00 | -13.75 | 57.7% | 8,550 | 58.57% | +5.45 | 327.30 | · | 99.1K | +1.7K | 4.2K |
1.9K | +492 | 1.2L | · | 471.20 | -8.75 | 58.41% | 8,600 | 58.86% | +8.00 | 352.55 | · | 2.5L | +4.2K | 10.1K |
2.1K | +849 | 1.9L | · | 447.00 | -6.50 | 58.62% | 8,650 | 57.88% | +3.20 | 370.00 | · | 2.3L | +3.6K | 7.7K |
7.1K | +1.1K | 3.9L | · | 416.55 | -11.60 | 57.79% | 8,700 ATM | 58.56% | +9.45 | 400.00 | · | 3.9L | +8.8K | 13.2K |
5.0K | +1.4K | 2.7L | · | 395.00 | -8.55 | 58.1% | 8,750 | 58.18% | +9.65 | 423.50 | · | 2.3L | +4.6K | 6.2K |
10.1K | +2.8K | 2.9L | · | 374.00 | -6.20 | 58.35% | 8,800 MAX PAIN | 58.38% | +11.40 | 452.00 | · | 1.8L | +3.4K | 7.0K |
4.4K | +587 | 1.0L | · | 347.30 | -8.95 | 57.65% | 8,850 | 57.58% | +7.95 | 474.50 | · | 35.8K | +723 | 1.9K |
6.7K | +2 | 99.2K | · | 326.95 | -8.20 | 57.73% | 8,900 | 57.35% | +5.65 | 501.95 | · | 34.1K | +497 | 3.2K |
3.4K | · | 43.6K | · | 309.20 | -5.60 | 58.04% | 8,950 | 57.92% | +9.30 | 535.90 | · | 11.4K | +73 | 1.0K |
15.6K | · | 2.1L | · | 290.30 | -4.60 | 58.06% | 9,000 | 57.45% | +8.05 | 563.50 | · | 30.3K | +257 | 6.0K |
4.8K | +23 | 36.8K | · | 272.70 | -4.95 | 58.13% | 9,050 | 57.78% | +5.10 | 597.55 | · | 4.6K | +53 | 544 |
6.8K | +11 | 59.0K | · | 255.40 | -3.80 | 58.13% | 9,100 | 57.4% | +3.90 | 627.70 | · | 8.2K | +30 | 911 |
4.2K | +90 | 27.4K | · | 236.85 | -6.65 | 57.81% | 9,150 | 58.72% | +14.35 | 669.95 | · | 2.9K | +1 | 741 |
8.3K | +37 | 69.7K | · | 223.65 | -2.60 | 58.17% | 9,200 | 57.82% | +2.05 | 698.35 | · | 5.2K | · | 1.5K |
4.5K | +47 | 25.9K | · | 207.25 | -4.90 | 57.92% | 9,250 | 58.49% | +18.35 | 737.80 | · | 3.1K | +162 | 739 |
7.8K | +623 | 55.8K | · | 194.80 | -2.65 | 58.16% | 9,300 | 56.87% | +4.45 | 763.55 | · | 1.3K | +2 | 670 |
3.4K | +166 | 27.4K | · | 180.80 | -4.15 | 58.04% | 9,350 | 60.08% | +13.10 | 820.00 | · | 58 | · | 307 |
5.2K | +2.1K | 46.6K | · | 168.00 | -5.70 | 57.98% | 9,400 | 56.1% | -5.20 | 833.40 | · | 98 | +8 | 121 |
2.3K | +501 | 29.9K | · | 158.40 | -2.45 | 58.36% | 9,450 | 64.02% | -41.35 | 918.35 | · | 7 | · | 101 |
10.9K | +415 | 1.3L | · | 148.40 | -2.75 | 58.56% | 9,500 | 57.72% | +8.30 | 920.00 | · | 900 | +8 | 759 |
804 | +50 | 16.6K | · | 137.60 | -3.95 | 58.52% | 9,550 | 43.59% | -50.75 | 889.65 | · | 4 | · | 65 |
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.