Why SENSEX Options Are Different
The SENSEX option chain is one of the fastest-growing derivatives markets in India. Unlike NIFTY (NSE, 50 stocks, Thursday expiry), SENSEX options trade on the BSE, track 30 large-cap stocks, and expire every Friday. This staggered expiry — SENSEX on Friday, NIFTY on Thursday — creates unique opportunities: traders can use Thursday's NIFTY expiry read to position into Friday's SENSEX expiry.
The SENSEX index level is approximately 3.3x higher than NIFTY (~80,000 vs ~24,000), which means strike gaps are wider (typically 100–200 points per strike vs 50 on NIFTY) and the rupee value per contract is significantly higher. Institutional participation in SENSEX options has grown rapidly, making OI analysis increasingly meaningful as a signal.
What TradePulse Shows You on the SENSEX Option Chain
OI Trend Lines
Unlike a static snapshot, the OI trend chart shows how open interest at each strike evolves throughout the session. Calls (solid blue) and puts (dashed red) for each strike are tracked from market open. A sharp OI increase at a call strike mid-session signals fresh resistance being built — often before price reacts.
3D Open Interest Surface
The 3D OI chart maps price (strike) on one axis, time on the other, and OI depth on the vertical axis. You can see exactly where and when OI accumulated during the day — a building mountain of put OI at a strike during the session is a visual confirmation of support being defended in real time.
Monte Carlo Risk Analysis
TradePulse runs Monte Carlo simulations on SENSEX intraday price data to calculate Value at Risk (VaR) and Expected Shortfall (ES). VaR at 95% confidence tells you the maximum loss over 60 minutes with 95% certainty. ES tells you the average loss if you're in the worst 5% of scenarios. These are institutional-grade risk metrics rarely seen on retail platforms.
Price Range Probabilities
The percentile fan shows the distribution of possible SENSEX prices over the next 60 minutes — 5th, 25th, 50th, 75th and 95th percentile. This is the option seller's view of risk: the 5th–95th band is the 90% probability range. Use it to select strikes: selling a call above the 95th percentile means you have a 95%+ probability of that call expiring worthless.
AI Support & Resistance Detection
TradePulse calculates SENSEX support and resistance levels by identifying price levels that have been tested multiple times with high OI concentration. Strength percentage shows how consistently a level has held. The candlestick chart overlays these levels visually with trading zone markers for overbought and oversold conditions.
SENSEX vs NIFTY vs BANKNIFTY — Which Chain Should You Track?
Each index chain has a distinct character. NIFTY is the broadest and most liquid — it reflects the entire large-cap market and is the primary benchmark for institutional hedging. BANKNIFTY is the highest-beta index, moving 1.5–2x NIFTY and heavily influenced by RBI policy and banking sector flows. SENSEX is increasingly interesting because it overlaps with but diverges from NIFTY — different stock weights, different exchange, different expiry day.
Sophisticated traders track all three. When SENSEX and NIFTY diverge directionally, it often signals sector-specific flows rather than broad market moves. TradePulse displays all three option chains simultaneously for comparison.