Live Greeks · iVIX · AAV · Max Pain · PCR — Black-76 model
As of 12:29 am IST, MCX Silver Mini Max Pain sits at ₹2,30,000 for the 2026-10-27 expiry, with a Put-Call Ratio of 0.456 and implied volatility (iVIX) of 27.9% — the market is pricing roughly a ±₹17,120 move by expiry (1 standard deviation, 27d 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 |
· | · | · | · | 24,902.00 | +1,766.50 | · | 2,05,000 | 29.15% | -24.50 | 891.00 | · | 9.4K | +124 | 519 |
· | · | · | · | 20,355.50 | +1,723.00 | · | 2,10,000 | 28.47% | -28.50 | 1,535.50 | · | 17.0K | +211 | 2.6K |
· | · | · | · | 17,773.00 | +1,679.50 | · | 2,13,000 | 27.56% | -147.50 | 1,994.00 | · | 1.3K | +39 | 121 |
66 | +19 | 112 | · | 13,599.00 | -66.00 | 28.29% | 2,15,000 | 27.92% | -43.50 | 2,550.00 | · | 10.2K | +66 | 1.1K |
33 | +31 | 39 | · | 11,194.00 | +32.50 | 29.81% | 2,19,000 | 28.05% | +8.00 | 3,812.00 | · | 822 | +80 | 83 |
449 | +81 | 641 | · | 10,200.00 | -101.00 | 28.18% | 2,20,000 | 27.68% | -61.50 | 4,092.00 | · | 16.0K | +114 | 2.6K |
183 | +119 | 177 | · | 9,343.00 | -339.00 | 27.1% | 2,21,000 | · | -312.00 | 3,045.50 | · | · | · | · |
48 | +17 | 37 | · | 9,027.00 | -166.00 | 28.28% | 2,22,000 | 27.51% | -117.00 | 4,842.50 | · | 2.2K | +41 | 105 |
25 | +8 | 26 | · | 8,375.50 | -241.50 | 27.91% | 2,23,000 | 27.83% | -34.00 | 5,347.50 | · | 610 | +14 | 47 |
34 | +1 | 28 | · | 8,119.50 | -163.50 | 29.09% | 2,24,000 | 27.46% | -146.50 | 5,713.50 | · | 832 | +34 | 78 |
847 | +450 | 3.2K | · | 7,455.00 | -28.50 | 28.48% | 2,25,000 | 28.03% | -10.00 | 6,330.00 | · | 11.3K | +102 | 1.5K |
302 | +262 | 1.9K | · | 6,924.50 | -116.00 | 28.33% | 2,26,000 ATM | 27.91% | -47.00 | 6,800.50 | · | 3.5K | +186 | 237 |
504 | +380 | 4.9K | · | 6,451.50 | -113.50 | 28.33% | 2,27,000 | 28.28% | +12.50 | 7,414.50 | · | 4.8K | +102 | 275 |
651 | +336 | 10.1K | · | 6,045.50 | -76.00 | 28.51% | 2,28,000 | 28.23% | -17.00 | 7,950.00 | · | 6.7K | +51 | 419 |
655 | +228 | 7.7K | · | 5,620.50 | -105.50 | 28.52% | 2,29,000 | 28.23% | -36.50 | 8,520.00 | · | 3.4K | +54 | 289 |
3.5K | +710 | 20.9K | · | 5,227.00 | -83.00 | 28.56% | 2,30,000 MAX PAIN | 28.45% | +56.00 | 9,163.00 | · | 7.8K | · | 2.3K |
387 | +48 | 1.2K | · | 4,868.00 | -92.00 | 28.67% | 2,31,000 | 28.07% | -16.00 | 9,686.50 | · | 102 | +3 | 92 |
342 | +94 | 1.8K | · | 4,540.00 | -87.50 | 28.82% | 2,32,000 | 28.19% | +512.00 | 10,350.00 | · | 70 | +19 | 86 |
111 | +33 | 769 | · | 4,141.50 | -114.50 | 28.58% | 2,33,000 | 29% | +326.00 | 11,191.00 | · | 70 | +2 | 39 |
102 | +13 | 805 | · | 3,950.00 | -15.00 | 29.16% | 2,34,000 | 23.18% | -78.50 | 10,583.00 | · | 18 | +4 | 19 |
2.5K | +716 | 13.3K | · | 3,700.00 | +42.50 | 29.41% | 2,35,000 | 28.3% | -77.50 | 12,400.50 | · | 719 | +24 | 846 |
216 | · | 881 | · | 3,325.00 | -84.50 | 29.01% | 2,36,000 | 27% | +270.00 | 12,839.00 | · | 28 | +3 | 63 |
184 | +2 | 518 | · | 3,082.50 | -59.50 | 29.14% | 2,37,000 | 20.32% | · | 12,315.50 | · | · | · | 47 |
597 | · | 1.5K | · | 2,875.00 | -28.50 | 29.36% | 2,38,000 | 28.53% | +258.00 | 14,642.50 | · | 40 | · | 96 |
242 | +7 | 421 | · | 2,663.50 | -29.50 | 29.48% | 2,39,000 | 24.29% | +112.00 | 14,622.50 | · | 14 | · | 55 |
6.6K | +931 | 20.9K | · | 2,505.00 | +26.00 | 29.82% | 2,40,000 | 29.3% | +153.50 | 16,333.50 | · | 429 | · | 1.5K |
143 | · | 343 | · | 2,272.50 | -48.50 | 29.69% | 2,41,000 | 12.69% | +6.00 | 15,020.00 | · | · | · | 3 |
128 | +1 | 458 | · | 2,116.00 | -27.50 | 29.9% | 2,42,000 | · | -1,202.00 | 14,618.00 | · | · | · | 13 |
438 | · | 580 | · | 1,960.00 | -4.00 | 30.05% | 2,43,000 | · | -369.50 | 16,272.00 | · | · | · | 13 |
70 | +3 | 537 | · | 1,840.00 | +0.50 | 30.35% | 2,44,000 | · | -1,280.00 | 16,198.00 | · | · | · | 1 |
1.9K | +107 | 7.2K | · | 1,722.00 | +9.50 | 30.62% | 2,45,000 | 28.06% | +591.50 | 20,240.00 | · | 22 | +1 | 178 |
41 | · | 414 | · | 1,582.50 | +3.50 | 30.68% | 2,46,000 | · | -1,351.50 | 17,840.00 | · | · | · | · |
25 | · | 97 | · | 1,479.50 | +8.50 | 30.93% | 2,47,000 | · | -1,385.50 | 18,681.50 | · | · | · | · |
238 | · | 984 | · | 1,312.00 | -28.50 | 30.66% | 2,48,000 | · | -1,417.00 | 19,536.50 | · | · | · | · |
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.