Crude Oil PCR Live – MCX Put Call Ratio (CRUDEOIL)

Track the Crude Oil put-call ratio using open interest and change in open interest, with expiry-wise charts, Max Pain and intraday options sentiment.

Crude Oil Put-Call Ratio

Market closed • Latest session data
0.89call OI higher

Crude Oil PCR is 0.89, meaning call open interest is higher than put open interest. PCR is an open-interest ratio and should be read with price, volume and change in OI before drawing a trading view.

Latest trading session: 27 Jul 2026

Expiry

.

.

Spot Price

Expiry Date

  • Lot Size:

    1

  • PCR:

    0.8881

  • CHG IN OI PCR:

    -0.1891

What is Crude Oil PCR?

The Crude Oil Put Call Ratio, or CRUDEOIL PCR, compares activity in put options with activity in call options for the selected MCX expiry. It provides a compact view of how option positions are distributed, but it should not be treated as a direct forecast of price direction.

This page shows three different calculations:

  • Open Interest PCR: total put open interest divided by total call open interest. It represents the balance of outstanding positions.
  • Change-in-OI PCR: change in put open interest divided by change in call open interest. It helps track how positions are being added or reduced during the session.
  • Volume PCR: put option volume divided by call option volume. It reflects trading activity during the selected period.

These ratios answer different questions. OI PCR shows existing positioning, change-in-OI PCR shows the day's position movement and volume PCR shows activity. They should be reviewed together rather than used as interchangeable indicators.

How to read Crude Oil PCR

A PCR above 1 means that the selected put measure is greater than the corresponding call measure. A PCR below 1 means call-side activity is greater. A reading near 1 indicates a relatively balanced put-call distribution. These are mathematical descriptions, not automatic bullish or bearish signals.

The same PCR movement can be created by different option actions. Put writing, put buying, call writing, call buying and position unwinding can all change the ratio. To understand the likely meaning, compare PCR with:

  • the direction of the Crude Oil futures or underlying price;
  • changes in put and call premiums;
  • strike-wise open interest;
  • the selected expiry and time remaining;
  • implied volatility and current market liquidity.

Avoid applying a fixed 'good PCR' threshold across every commodity. Each contract has its own liquidity, strike distribution and historical range. The most useful comparison is the current CRUDEOIL PCR against its own recent values and the current option-chain structure.

Crude Oil-specific market context

Crude Oil can react sharply to changes in global supply expectations, inventories, geopolitical developments, demand forecasts and currency movement. These events can create fast changes in option premiums and open interest, making the Crude Oil PCR useful for monitoring how participants are adjusting their risk.

A rising PCR during a stable or rising Crude Oil market may be consistent with put writing below the market, but the same rise during a sharp decline can reflect protective put buying. The direction of the underlying, premium movement and change in open interest must therefore be examined together.

Crude options can also experience large changes around scheduled data releases and unexpected news. A short-lived PCR spike may represent event hedging rather than a durable directional view. Comparing the current ratio with previous sessions helps users see whether the reading is genuinely unusual.

How to use Crude Oil PCR with the option chain

For Crude Oil, combine PCR with the futures trend, volatility, major put and call OI strikes and the timing of market-moving events. Avoid acting on a single ratio update during a news-driven spike; wait for the option chain and price to stabilise.

Start with the overall ratio, then inspect the strikes carrying the largest put and call open interest. Rising put OI below the current market may indicate a zone participants are defending, while rising call OI above the market may indicate an area of supply or resistance. These levels are not permanent; they can weaken quickly when writers unwind positions.

Use the historical PCR table to compare the current reading with the previous sessions. A value that looks high in isolation may be normal for the contract, while a moderate value may be important if it represents a sharp change from the recent range.

Limitations of Crude Oil PCR

PCR is an aggregated indicator. It does not directly identify whether each option was bought or sold, whether a position is a hedge, or whether a large institutional strategy contains several legs. It may also become unstable when total option activity is low or concentrated at a small number of strikes.

Do not use PCR as a standalone buy or sell signal. It is more useful as a confirmation tool alongside price structure, open-interest distribution, volatility, expiry, liquidity and risk management.

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FAQs

Not by itself. Extreme readings can persist during strong trends or event hedging. Look for price confirmation, OI unwinding and a change in the ratio's direction before assuming a reversal.
PCR alone cannot provide precise levels. Use the strike-wise option chain to identify large put and call OI concentrations and then confirm those areas with price action.
Volume PCR and change-in-OI PCR can help track current-session activity, while total OI PCR provides the broader position balance. Use them together instead of selecting only one.
Crude Oil responds quickly to supply news, inventory information, geopolitical risk and large price moves. Traders may add or remove hedges rapidly, causing the ratio to change.
It means put activity is greater than call activity for the chosen metric. It can reflect put writing, put buying or call unwinding, so it is not automatically bullish.
Crude Oil PCR compares put and call activity in MCX Crude Oil options. The page separates open-interest PCR, change-in-OI PCR and volume PCR for the selected expiry.
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