Reading PCR and open interest in the option chain
Put-Call Ratio (PCR) is total put open interest divided by total call open interest. Above 1 means more puts are open, below 1 means more calls.
The strike with the highest call OI often acts as resistance, and the strike with the highest put OI as support, because option writers defend those levels.
Treat PCR and OI as context, not a prediction. Check how OI changes during the day, and never trade options without a defined risk.
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