Options tool

Put-Call Ratio Calculator

Compare put and call open interest for the same expiry and underlying with an instant PCR calculation and visual breakdown.

Open interest inputs

Use the same expiry and underlying for both values.

PCR result

Put-Call Ratio

1.25

Put OI share

55.56%

Call OI

10,00,000

Put OICall OI

Put open interest is higher; sentiment may be supportive, but context matters.

How to use this PCR calculator

  1. Find put and call open interest for the same expiry.
  2. Enter both values without mixing contracts or expiries.
  3. Read the PCR and compare the put-versus-call OI share.
  4. Use price action and OI changes to add market context.

What is PCR in options trading?

The put-call ratio is put open interest divided by call open interest. A value above 1 means put OI is larger; a value below 1 means call OI is larger. The same formula can be applied to volume, but this calculator focuses on open interest.

PCR is best treated as a context indicator. Positioning can change quickly around expiry, and high or low readings do not guarantee a bullish or bearish outcome.

Common questions

What is the put-call ratio?

Put-call ratio, or PCR, is calculated by dividing put open interest by call open interest for the same underlying and expiry.

What does a high PCR mean?

A high PCR means put open interest is larger relative to call open interest. It can indicate supportive positioning, but PCR should be combined with price, volume, changes in OI and market context.

Can PCR predict the market direction?

No. PCR is a positioning measure, not a standalone trading signal. Compare it with price structure, implied volatility, liquidity and other analysis.