Silver
Option Chain
Silver on MCX — the full end-of-day option chain with OI, change in OI, IV and LTP, plus max pain, PCR and the OI walls. Live intraday data is in the app.
Silver End-of-Day Snapshot
as of 18 Sep 2026, 23:56 · expiry 2026-09-24
Silver Option Chain — 2026-09-24
| Calls | Strike | Puts | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| OI | Chg OI | Volume | IV | LTP | Strike | LTP | IV | Volume | Chg OI | OI |
| 0 | 0 | 0 | — | 54,715.50 | 180,000 | 30.50 | 107.3% | 173 | +18 | 69 |
| 0 | 0 | 0 | — | 44,728.50 | 190,000 | 21.00 | 85.9% | 10 | -6 | 18 |
| 0 | 0 | 0 | — | 34,741.50 | 200,000 | 39.00 | 74.2% | 1,082 | -55 | 517 |
| 0 | 0 | 0 | — | 29,749.00 | 205,000 | 1.00 | 46.9% | 0 | 0 | 24 |
| 5 | 0 | 0 | — | 24,763.50 | 210,000 | 52.00 | 59.2% | 2,245 | -2 | 512 |
| 43 | -6 | 9 | — | 20,274.50 | 220,000 | 110.00 | — | 3,814 | +119 | 585 |
| 0 | 0 | 0 | — | 13,149.00 | 222,000 | 300.00 | — | 2 | -2 | 1 |
| 0 | 0 | 0 | — | 11,372.00 | 224,000 | 1,658.50 | — | 0 | 0 | 4 |
| 80 | -15 | 28 | — | 16,728.00 | 225,000 | 263.00 | 44.4% | 3,633 | +79 | 295 |
| 1 | 0 | 0 | — | 11,245.50 | 226,000 | 912.50 | 58.1% | 0 | 0 | 0 |
| 0 | 0 | 0 | — | 10,501.00 | 227,000 | 2,326.00 | — | 0 | 0 | 1 |
| 2 | -1 | 1 | — | 14,133.00 | 228,000 | 1,584.00 | — | 0 | 0 | 1 |
| 1 | 0 | 0 | — | 9,258.00 | 229,000 | 1,595.50 | — | 0 | 0 | 4 |
| 140 | -80 | 243 | — | 12,122.00 | 230,000 | 502.50 | — | 7,589 | +73 | 715 |
| 1 | 0 | 0 | — | 7,732.00 | 231,000 | 757.00 | — | 41 | +1 | 4 |
| 9 | 0 | 0 | — | 4,700.00 | 232,000 | 675.00 | 38.0% | 31 | +5 | 10 |
| 1 | 0 | 0 | — | 4,804.00 | 233,000 | 3,020.50 | — | 0 | 0 | 1 |
| 5 | 0 | 1 | — | 9,650.00 | 234,000 | 1,210.00 | — | 29 | 0 | 3 |
| 259 | -81 | 965 | — | 7,756.50 | 235,000 | 1,150.00 | — | 6,342 | +274 | 647 |
| 6 | 0 | 2 | — | 7,650.00 | 236,000 | 3,489.50 | — | 0 | 0 | 2 |
| 30 | 0 | 14 | — | 6,180.50 | 237,000 | 1,969.00 | 40.3% | 22 | +5 | 5 |
| 11 | -8 | 27 | — | 5,488.00 | 238,000 | 1,909.00 | — | 155 | +3 | 23 |
| 4 | -2 | 17 | — | 4,975.50 | 239,000 | 7,393.50 | — | 0 | 0 | 4 |
| 660 | -133 | 4,887 | — | 4,200.00 | 240,000 | 2,550.00 | — | 6,098 | +92 | 501 |
| 7 | +6 | 19 | — | 3,521.00 | 241,000 | 7,773.50 | 82.7% | 0 | 0 | 0 |
| 18 | +3 | 101 | — | 3,283.50 | 242,000 | 4,261.00 | — | 18 | +4 | 4 |
| 5 | +5 | 28 | — | 2,857.00 | 243,000 | 9,319.50 | — | 0 | 0 | 0 |
| 4 | +3 | 22 | — | 2,490.50 | 244,000 | 10,135.50 | — | 0 | 0 | 0 |
| 439 | +152 | 5,358 | — | 2,236.00 | 245,000 | 5,600.00 | — | 1,038 | +45 | 123 |
| 8 | +5 | 26 | — | 1,667.50 | 247,000 | 12,723.50 | — | 0 | 0 | 0 |
| 3 | 0 | 0 | 33.6% | 1,288.00 | 248,000 | 13,625.00 | — | 0 | 0 | 0 |
| 5 | +5 | 23 | — | 1,084.50 | 249,000 | 14,542.50 | — | 0 | 0 | 0 |
| 778 | +13 | 6,582 | 35.3% | 984.00 | 250,000 | 9,218.50 | — | 252 | -9 | 199 |
| 2 | +2 | 14 | — | 957.50 | 251,000 | 16,416.00 | 111.4% | 0 | 0 | 0 |
| 1 | 0 | 0 | 26.0% | 109.50 | 254,000 | 19,299.00 | — | 0 | 0 | 0 |
| 257 | +50 | 2,611 | — | 481.50 | 255,000 | 14,162.50 | 53.5% | 8 | -4 | 37 |
| 1 | 0 | 0 | 28.2% | 29.50 | 259,000 | 24,212.50 | 136.3% | 0 | 0 | 0 |
| 533 | +124 | 4,842 | — | 240.00 | 260,000 | 20,252.50 | — | 3 | -1 | 59 |
| 245 | +67 | 2,483 | 44.7% | 125.00 | 265,000 | 30,180.00 | — | 0 | 0 | 61 |
| 435 | +28 | 2,976 | — | 62.00 | 270,000 | 35,169.50 | — | 0 | 0 | 61 |
| 145 | +20 | 929 | 51.8% | 46.00 | 275,000 | 40,573.50 | — | 0 | 0 | 47 |
| 316 | +18 | 1,194 | 57.7% | 43.00 | 280,000 | 45,156.00 | — | 0 | 0 | 4 |
| 1 | 0 | 0 | 43.3% | 0.50 | 285,000 | 50,149.50 | — | 0 | 0 | 0 |
| 120 | +43 | 488 | 69.4% | 41.50 | 290,000 | 55,143.00 | — | 0 | 0 | 3 |
| 1,203 | -70 | 1,548 | 79.4% | 36.00 | 300,000 | 65,130.00 | — | 0 | 0 | 4 |
End-of-day snapshot, refreshed once daily. Live intraday OI, IV and LTP across every strike are in the app.
As of the latest close, Silver (MCX) options for the 2026-09-24 expiry show a max pain of 240,000 against a spot of 242,000, with a put-call ratio of 0.79. The heaviest call OI sits at 300,000 (likely resistance) and the heaviest put OI at 230,000 (likely support).
About Silver options
Silver is both a precious and an industrial metal, so its MCX options tend to be more volatile than gold — driven by safe-haven flows as well as industrial demand. Silver options on MCX expire monthly and trade into the late evening session, so time decay and implied volatility behave differently from equity options — read the chain with that in mind.
How to read the silver option chain
Open interest tells you where the market has committed money. The heaviest call OI strike is the ceiling writers are defending, the heaviest put OI strike is the floor, and the range between them is what this expiry is pricing. The put-call ratio summarises that positioning, and max pain marks the strike where buyers lose the most at expiry. Read the walls together with change in OI to see whether they are being built or unwound — a wall losing OI into expiry is a weak one.
Silver max pain, PCR and the gold link
Into the monthly expiry, silver tends to drift toward its max pain strike as writers hedge — strongest in range-bound weeks, weakest when a dollar move or a gold breakout sets a trend. Silver historically tracks gold closely, so it is worth comparing this chain with the gold option chain: positioning that shows up in silver but not in gold is silver-specific. For the energy side of MCX, see crude oil and natural gas.
Silver contract facts
Silver (30 kg), Silver Mini (5 kg) and Silver Micro (1 kg) are all quoted in rupees per kilogram with a ₹1 tick — ₹30 per tick on the 30 kg lot. Options are listed on the 30 kg and 5 kg contracts. Trading runs 09:00 to 23:30 IST, extended to 23:55 in the US standard-time months. Futures expire on the 5th of the contract month; options expire a few sessions earlier and in-the-money options devolve into futures at the strike. See the commodity option strategies guide and the MCX option chain analysis walkthrough for how to trade around these mechanics.
See Silver's live chain
Strike-by-strike OI, change in OI, PCR, IV and max pain for Silver, updating intraday — with AI commentary. Free.
Frequently asked questions — Silver options
What is the MCX Silver option chain?
It lists every call and put on MCX Silver futures for the current expiry — strike by strike, with open interest, change in OI, volume, implied volatility and last traded price. The main Silver contract is 30 kg per lot and is quoted in rupees per kilogram.
What are the silver lot sizes on MCX?
Silver trades in three futures sizes — Silver (30 kg), Silver Mini (5 kg) and Silver Micro (1 kg) — all quoted per kilogram. Options are listed on the 30 kg and 5 kg contracts. The chain on this page covers the 30 kg contract, which carries most of the option open interest.
What are MCX Silver trading hours?
Silver options trade Monday to Friday from 09:00 to 23:30 IST, extended to 23:55 during the US standard-time months, so the session overlaps COMEX trading in New York.
How is silver max pain calculated?
For each strike, TradePulse totals what all outstanding calls and puts would pay out if the contract expired there. The strike with the smallest total payout is max pain — where option buyers collectively lose the most. It is recalculated from the end-of-day chain shown above.
When do MCX Silver options expire?
Silver futures expire on the 5th of the contract month and the options expire a few sessions before that. In-the-money options devolve into a futures position at the strike rather than settling in cash, so open positions need to be squared off or margined before expiry.
What moves silver option prices?
MCX Silver tracks the international silver price and the USD-INR rate. Silver moves with gold on safe-haven and real-yield flows, but industrial demand from solar, electronics and electric vehicles adds a second driver, which is why silver is usually more volatile than gold and its options carry higher implied volatility.
How to read an option chain
- How to read an option chain
- What is max pain? · What is PCR?
- Trading volatility · All MCX commodities