Advanced Option Chain Analysis (BANKNIFTY)

Remove annoying ads with premium @ ₹89 ₹149 per month

Remove Ads

Green means highest oi / volume, Yellow means second highest oi / volume and Blue means third highest oi / volume.

CALLS								PUTS
#	OI	OI Change	Volume	IV	LTP	Price Chn.	Strike	#	OI	OI Change	Volume	IV	LTP	Price Chn.
	23	0	0	0	0.00	0.00	43,000		3,362	0	2,239	36.27	7.40	0.00
	0	0	0	0	0.00	0.00	43,500		554	36	512	35.39	8.80	-0.20
	158	0	0	0	0.00	0.00	44,000		1,251	18	781	34.00	9.20	-0.65
	5	0	0	0	0.00	0.00	44,500		276	-19	454	32.90	10.40	-1.35
	734	0	18	0	9707.00	157.00	45,000		6,600	193	2,487	31.80	11.75	-1.85
	0	0	0	0	0.00	0.00	45,300		151	-85	190	31.09	12.50	-3.65
	0	0	0	0	0.00	0.00	45,400		89	9	62	30.61	12.00	-5.35
	1	0	0	0	0.00	0.00	45,500		791	3	344	30.39	12.30	-2.85
	0	0	0	0	0.00	0.00	45,600		214	8	363	30.71	14.50	-0.90
	0	0	0	0	0.00	0.00	45,700		49	12	229	29.97	13.00	-3.90
	0	0	0	0	0.00	0.00	45,800		26	1	2	30.03	14.35	-1.75
	0	0	0	0	0.00	0.00	45,900		101	16	114	30.22	16.35	0.70
	1	0	0	0	0.00	0.00	46,000		3,973	88	3,681	29.30	14.00	-2.90
	0	0	0	0	0.00	0.00	46,100		30	6	27	28.98	14.00	-5.20
	0	0	0	0	0.00	0.00	46,200		88	38	441	28.92	15.00	-9.35
	0	0	0	0	0.00	0.00	46,300		105	60	179	28.54	14.75	-5.20
	0	0	0	0	0.00	0.00	46,400		21	0	0	29.50	0.00	0.00
	0	0	0	0	0.00	0.00	46,500		1,091	-72	1,774	28.20	16.00	-4.15
	0	0	0	0	0.00	0.00	46,600		78	1	254	27.91	16.15	-3.75
	0	0	0	0	0.00	0.00	46,700		51	1	25	28.00	18.00	-3.30
	0	0	0	0	0.00	0.00	46,800		77	-17	50	28.19	20.50	-1.25
	0	0	0	0	0.00	0.00	46,900		39	-1	59	27.50	18.70	-7.30
	65	0	9	0	7571.10	0.00	47,000		5,520	258	6,478	27.43	20.00	-3.35
	0	0	0	0	0.00	0.00	47,100		57	-7	114	26.98	19.35	-4.05
	0	0	0	0	0.00	0.00	47,200		68	5	80	26.84	20.30	-5.25
	1	0	0	0	0.00	0.00	47,300		101	15	124	26.82	22.00	-3.85
	0	0	0	0	0.00	0.00	47,400		46	-19	49	26.75	23.50	-3.45
	0	0	0	0	0.00	0.00	47,500		2,431	410	3,894	26.78	25.75	-2.30
	0	0	0	0	0.00	0.00	47,600		47	-15	58	27.06	29.90	-1.40
	0	0	0	0	0.00	0.00	47,700		92	10	91	26.12	25.85	-5.35
	0	0	0	0	0.00	0.00	47,800		98	7	85	26.36	29.80	-3.95
	0	0	0	0	0.00	0.00	47,900		118	0	130	25.40	25.50	-10.15
	443	22	54	0	6652.35	99.95	48,000		10,005	526	13,163	25.90	31.45	-4.30
	0	0	0	0	0.00	0.00	48,100		224	-42	212	25.71	32.65	-4.35
	0	0	0	0	0.00	0.00	48,200		203	49	452	25.33	32.35	-6.90
	0	0	0	0	0.00	0.00	48,300		138	-13	346	25.45	36.20	-4.40
	0	0	0	0	0.00	0.00	48,400		242	42	854	24.86	34.15	-8.25
	0	0	0	0	0.00	0.00	48,500		3,825	313	10,760	24.97	38.15	-6.10
	0	0	0	0	0.00	0.00	48,600		228	-13	373	24.54	37.40	-8.35
	0	0	0	0	0.00	0.00	48,700		475	284	698	24.52	40.45	-8.35
	0	0	0	0	0.00	0.00	48,800		356	115	809	24.23	41.05	-9.10
	0	0	0	0	0.00	0.00	48,900		465	78	921	24.10	43.30	-10.25
	592	-11	18	0	5700.00	77.10	49,000		12,436	874	24,781	24.19	48.00	-7.65
	0	0	0	0	0.00	0.00	49,100		353	-37	851	23.79	47.55	-11.25
	0	0	0	0	0.00	0.00	49,200		377	151	641	23.61	49.60	-12.30
	0	0	0	0	0.00	0.00	49,300		468	-7	344	23.56	53.30	-10.85
	0	0	0	0	0.00	0.00	49,400		361	-1	436	23.36	55.30	-13.20
	97	1	2	0	5209.70	139.70	49,500		9,448	61	16,873	23.37	60.15	-10.50
	0	0	0	0	0.00	0.00	49,600		1,039	65	559	23.10	61.50	-14.95
	0	0	0	0	0.00	0.00	49,700		414	49	774	23.13	67.15	-13.05
	0	0	0	0	0.00	0.00	49,800		951	-60	1,538	22.96	70.15	-14.15
	0	0	0	0	0.00	0.00	49,900		837	-135	1,286	22.82	73.90	-14.85
	2,410	45	298	0	4830.00	119.60	50,000		20,676	-1,375	43,700	22.89	81.05	-12.70
	1	0	0	0	0.00	0.00	50,100		1,436	65	1,443	22.61	82.90	-17.85
	8	0	0	0	0.00	0.00	50,200		901	-41	1,908	22.63	90.00	-13.45
	0	0	0	0	0.00	0.00	50,300		808	73	1,648	22.36	92.35	-18.30
	9	0	0	26.29	0.00	0.00	50,400		1,643	852	2,575	22.22	97.00	-18.50
	31	2	5	0	4150.00	-53.95	50,500		9,417	2,036	18,827	22.20	104.45	-19.65
	3	0	0	23.61	0.00	0.00	50,600		585	8	585	22.10	110.65	-20.55
	0	0	0	0	0.00	0.00	50,700		744	105	941	21.99	117.10	-22.40
	1	0	0	19.34	0.00	0.00	50,800		1,033	91	1,325	21.89	124.00	-22.35
	6	0	0	7.46	0.00	0.00	50,900		827	194	1,544	21.80	131.60	-21.80
	1,113	-13	502	18.7	3920.65	129.65	51,000		17,173	-1,300	39,417	21.75	140.50	-23.05
	6	0	0	0	0.00	0.00	51,100		843	157	1,765	21.73	150.65	-23.50
	16	-8	10	25.74	3925.90	1326.30	51,200		1,756	292	2,332	21.65	159.95	-24.15
	20	-8	9	0	3501.00	-0.55	51,300		1,693	269	2,273	21.45	166.25	-28.40
	28	0	0	20.35	0.00	0.00	51,400		889	249	2,181	21.44	178.55	-24.45
	274	-6	28	15.29	3398.65	98.65	51,500		8,695	-894	20,578	21.38	189.65	-25.90
	54	-11	16	25.34	3583.55	277.55	51,600		744	213	2,321	21.29	200.90	-26.55
	48	-16	19	25.25	3499.80	376.75	51,700		1,456	564	3,537	21.19	212.00	-32.05
	57	0	14	23.59	3358.90	861.00	51,800		880	125	2,614	21.06	222.85	-33.20
	22	-5	6	25.33	3344.05	1161.10	51,900		892	50	1,993	20.96	235.30	-34.90
	2,086	-89	870	17.92	3007.10	125.05	52,000		15,717	372	51,401	20.87	248.90	-38.10
	26	-27	29	24.22	3144.15	636.60	52,100		949	-33	2,981	20.89	267.00	-33.75
	46	-5	7	15.69	2771.20	25.35	52,200		1,053	-29	5,110	20.83	283.00	-35.95
	62	0	4	22.64	2925.70	229.00	52,300		1,011	13	3,064	20.78	300.10	-34.60
	56	0	6	21.19	2790.10	172.70	52,400		1,030	28	4,305	20.59	312.55	-46.25
	872	25	500	18.69	2615.00	128.45	52,500		10,017	2,104	32,469	20.61	334.30	-42.65
	65	0	3	14.52	2391.10	165.80	52,600		714	70	3,339	20.40	347.25	-48.40
	86	-5	17	16.33	2367.00	131.55	52,700		1,034	90	4,352	20.40	370.00	-47.15
	96	-6	13	16.93	2308.55	316.05	52,800		1,265	42	5,256	20.30	389.30	-58.85
	195	-17	81	16.51	2213.30	69.35	52,900		1,415	185	3,024	20.09	404.95	-63.30
	4,995	-30	4,732	18.48	2217.30	111.75	53,000		21,817	957	64,562	20.30	440.00	-52.30
	379	-34	170	18.58	2147.20	105.55	53,100		1,253	-14	4,544	20.04	454.75	-66.70
	661	-121	308	18.95	2091.50	118.55	53,200		2,057	-409	6,090	20.15	488.00	-61.10
	823	-111	527	18.06	1978.00	115.25	53,300		1,607	-207	5,732	20.21	519.90	-57.55
	515	-119	871	18.18	1913.00	95.85	53,400		1,912	-227	5,009	20.06	543.00	-65.40
	11,846	-543	5,636	17.93	1830.80	90.75	53,500		19,241	43	32,937	20.03	573.00	-63.90
	2,034	-176	2,285	18.32	1782.00	105.15	53,600		2,515	102	10,942	19.96	602.15	-66.15
	1,161	-185	2,569	18.02	1700.00	83.30	53,700		1,922	-225	6,789	19.84	630.00	-73.60
	1,518	-277	4,348	17.54	1609.35	69.95	53,800		2,348	-417	12,952	19.87	667.00	-70.15
	1,007	-104	2,224	18.15	1577.00	94.25	53,900		1,682	-184	10,269	19.50	684.30	-92.00
	35,709	-1,164	52,780	17.83	1497.15	86.25	54,000		42,387	-308	103,779	19.47	720.05	-100.65
	1,603	-431	8,323	18.08	1449.60	95.55	54,100		2,341	-229	18,143	19.54	763.00	-89.75
	1,944	-1,070	27,075	17.69	1368.50	68.90	54,200		3,214	8	32,416	19.63	808.70	-88.00
	2,525	-1,129	38,913	17.93	1323.10	78.90	54,300		3,237	-578	45,166	19.58	847.45	-93.80
	5,079	2,611	57,593	17.81	1260.10	70.45	54,400		3,285	753	54,882	19.28	874.55	-106.90
	17,580	738	146,973	17.91	1210.00	73.75	54,500		13,187	945	117,553	19.30	920.10	-106.55
	4,762	16	60,839	17.75	1147.30	58.70	54,600		3,009	-200	55,453	19.19	960.00	-109.75
	2,686	162	48,530	17.87	1102.15	68.05	54,700		1,735	246	44,365	19.44	1021.55	-103.70
	3,232	-112	36,021	17.84	1049.60	66.85	54,800		1,942	386	27,631	19.22	1058.00	-122.50
	2,503	-99	24,255	17.67	991.25	52.95	54,900		1,371	248	13,609	19.40	1118.35	-102.30
	33,793	970	155,316	17.66	943.00	49.55	55,000		22,362	1,587	53,033	19.11	1153.60	-108.65
	2,996	-762	17,630	17.75	902.25	55.40	55,100		1,917	269	4,641	20.04	1260.00	-52.15
	2,768	-280	19,319	17.7	855.00	56.10	55,200		1,900	105	13,938	18.98	1254.55	-131.20
	3,053	141	12,800	17.41	795.95	30.50	55,300		1,379	-126	1,791	18.95	1308.95	-106.65
	2,664	117	8,194	17.47	758.00	38.10	55,400		1,246	-109	646	18.80	1357.65	-150.10
	23,540	766	53,697	17.63	726.70	44.50	55,500		15,325	-51	10,166	19.24	1441.70	-117.20
	1,868	202	10,083	17.6	686.95	42.35	55,600		637	-31	287	18.94	1485.00	-163.70
	1,490	-4	12,064	17.58	648.95	35.95	55,700		690	5	245	18.68	1532.70	-160.30
	1,964	237	14,529	17.64	616.70	38.00	55,800		706	15	215	18.65	1594.30	-144.50
	1,542	727	8,338	17.4	570.00	29.55	55,900		393	1	67	18.70	1661.35	-148.90
	29,773	17	109,422	17.33	534.10	19.15	56,000		11,460	488	7,337	18.60	1722.00	-162.65
	1,357	77	10,569	17.36	505.00	18.80	56,100		350	0	19	18.92	1806.15	-384.35
	1,797	-160	6,291	17.47	480.70	26.75	56,200		235	1	6	19.22	1889.60	-171.40
	1,187	216	11,020	17.32	445.00	17.75	56,300		231	-2	17	18.07	1901.45	-158.45
	1,172	64	6,196	17.36	420.00	13.40	56,400		105	1	33	19.07	2022.00	-311.30
	14,276	1,032	42,042	17.34	393.05	15.05	56,500		3,812	-80	2,782	18.82	2081.80	-144.70
	1,129	13	7,776	17.37	370.00	14.65	56,600		76	-1	6	20.50	2235.95	-61.50
	1,137	115	6,099	17.26	342.00	9.85	56,700		94	-1	16	18.41	2210.90	-256.10
	1,219	16	7,168	17.33	323.00	10.80	56,800		63	0	4	21.25	2418.40	-481.60
	908	-73	4,504	17.29	300.40	5.10	56,900		20	0	6	16.47	2282.05	-54.80
	26,558	947	81,176	17.34	282.85	7.90	57,000		9,261	22	830	19.50	2488.95	-120.95
	1,039	12	4,661	17.29	261.90	1.75	57,100		46	0	1	15.35	2403.30	-453.15
	1,537	173	4,898	17.3	244.70	4.45	57,200		21	0	0	21.45	0.00	0.00
	1,053	219	3,320	17.33	229.00	3.90	57,300		31	0	0	13.52	0.00	0.00
	855	61	2,903	17.25	210.30	-0.65	57,400		25	0	3	18.36	2762.65	-735.30
	10,617	104	31,382	17.37	199.70	1.45	57,500		4,112	-23	109	19.07	2872.00	-122.00
	895	111	3,829	17.34	184.65	0.90	57,600		19	0	0	0.00	0.00	0.00
	1,285	140	4,826	17.34	171.15	-0.45	57,700		13	-1	2	20.82	3103.00	-197.65
	863	195	3,106	17.37	159.65	-2.65	57,800		8	0	0	0.00	0.00	0.00
	837	148	2,128	17.3	146.05	-4.25	57,900		16	0	0	9.73	0.00	0.00
	24,524	876	56,306	17.37	137.00	-4.30	58,000		8,701	-22	276	19.33	3303.85	-227.85
	867	20	1,680	17.46	129.20	-1.70	58,100		15	-2	2	26.54	3656.30	671.25
	1,414	-67	2,601	17.44	118.90	-5.20	58,200		13	0	0	19.89	0.00	0.00
	1,194	149	1,915	17.53	112.15	-2.70	58,300		6	0	0	0.00	0.00	0.00
	611	109	2,046	17.48	102.25	-4.85	58,400		15	0	2	26.79	3908.75	-241.25
	14,035	1,841	29,650	17.54	95.70	-4.20	58,500		2,846	-13	28	20.60	3778.70	-246.30
	850	-143	2,009	17.58	89.00	-5.50	58,600		6	0	0	19.49	0.00	0.00
	866	187	1,649	17.64	83.25	-4.55	58,700		86	0	0	23.34	0.00	0.00
	608	118	1,337	17.73	78.35	-4.60	58,800		8	0	0	18.90	0.00	0.00
	696	83	1,333	17.65	70.75	-6.45	58,900		15	0	0	0.00	0.00	0.00
	18,650	2,749	39,277	17.71	66.00	-6.20	59,000		5,041	24	67	20.52	4224.90	-156.10
	894	-85	1,730	17.91	63.90	-4.55	59,100		0	0	0	0.00	0.00	0.00
	1,040	574	1,630	17.88	58.30	-4.65	59,200		0	0	0	0.00	0.00	0.00
	238	-46	920	17.85	53.10	-5.00	59,300		18	0	0	0.00	0.00	0.00
	1,100	135	2,066	17.97	50.40	-5.45	59,400		0	0	0	0.00	0.00	0.00
	10,175	961	19,078	17.94	45.80	-6.95	59,500		383	0	23	23.62	4753.90	-569.70
	337	37	749	18.07	43.60	-6.50	59,600		0	0	0	0.00	0.00	0.00
	409	113	681	18.05	39.75	-6.25	59,700		0	0	0	0.00	0.00	0.00
	585	-19	808	18.02	36.05	-7.50	59,800		31	0	0	0.00	0.00	0.00
	398	-14	400	18.43	37.50	-3.05	59,900		0	0	0	0.00	0.00	0.00
	68,055	-492	55,247	18.3	32.90	-6.10	60,000		40,518	-1,044	1,807	22.78	5193.95	-146.25
	373	64	441	18.09	28.15	-7.95	60,100		0	0	0	0.00	0.00	0.00
	390	-31	640	18.83	32.65	-2.80	60,200		2	0	0	21.02	0.00	0.00
	209	35	235	18.88	30.45	-3.30	60,300		0	0	0	0.00	0.00	0.00
	138	-32	236	18.51	24.70	-5.95	60,400		0	0	0	0.00	0.00	0.00
	4,599	168	5,668	18.73	24.30	-4.95	60,500		118	0	0	22.87	0.00	0.00
	234	15	395	18.77	22.50	-3.15	60,600		0	0	0	0.00	0.00	0.00
	106	1	200	18.66	19.80	-5.25	60,700		0	0	0	0.00	0.00	0.00
	178	-45	312	18.86	19.40	-7.65	60,800		0	0	0	0.00	0.00	0.00
	125	20	173	19.16	19.75	-4.55	60,900		0	0	0	0.00	0.00	0.00
	13,123	-252	16,280	19.37	19.40	-2.40	61,000		1,664	5	28	25.57	6180.55	-108.10
	147	-15	314	19.25	17.00	-4.75	61,100		0	0	0	0.00	0.00	0.00
	289	9	165	19.44	16.70	-2.30	61,200		0	0	0	0.00	0.00	0.00
	87	14	688	19.55	15.90	-5.25	61,300		0	0	0	0.00	0.00	0.00
	158	103	245	19.64	15.00	-2.70	61,400		0	0	0	0.00	0.00	0.00
	2,423	174	3,380	19.62	13.60	-3.25	61,500		166	0	0	26.49	0.00	0.00
	102	0	226	19.85	13.60	-1.70	61,600		0	0	0	0.00	0.00	0.00
	335	88	321	20.34	14.85	-1.55	61,700		0	0	0	0.00	0.00	0.00
	59	-16	220	20.03	12.15	-1.70	61,800		0	0	0	0.00	0.00	0.00
	74	-23	283	20.17	11.75	-2.25	61,900		0	0	0	0.00	0.00	0.00
	9,558	961	9,998	20.14	10.60	-1.80	62,000		2,086	24	30	27.34	7155.00	-161.45
	60	1	237	20.46	11.00	-1.40	62,100		0	0	0	0.00	0.00	0.00
	41	0	36	20.53	10.35	-1.45	62,200		0	0	0	0.00	0.00	0.00
	65	7	203	20.66	9.95	-2.40	62,300		0	0	0	0.00	0.00	0.00
	91	0	31	20.72	9.35	-2.30	62,400		0	0	0	0.00	0.00	0.00
	799	-14	860	20.82	8.90	-1.00	62,500		48	0	0	0.00	0.00	0.00
	90	9	29	21.36	10.05	0.20	62,600		0	0	0	0.00	0.00	0.00
	73	1	245	21.04	8.15	-1.05	62,700		0	0	0	0.00	0.00	0.00
	33	-4	136	20.97	7.25	-1.55	62,800		0	0	0	0.00	0.00	0.00
	98	24	92	21.09	7.00	-1.75	62,900		0	0	0	0.00	0.00	0.00
	10,736	689	4,296	21.33	7.05	-1.70	63,000		1,808	19	37	31.71	8170.20	-129.80
	515	185	791	22.05	6.15	-0.70	63,500		3	0	0	0.00	0.00	0.00
	6,045	357	12,476	22.16	4.20	-0.85	64,000		1,039	0	0	36.88	0.00	0.00
	328	-104	709	23.21	4.30	-0.60	64,500		0	0	0	0.00	0.00	0.00
	3,512	-26	2,765	23.72	3.55	-0.20	65,000		1,718	-19	26	45.23	10300.00	6.50
	1,392	13	97	25.79	3.80	0.05	66,000		708	0	1	0.00	10950.00	-495.00
	912	40	802	27.36	2.40	-0.10	67,500		189	0	0	39.59	0.00	0.00
	1,539	55	16,700	29.9	2.35	-0.05	69,000		87	0	0	24.37	0.00	0.00

What is Option Chain?

An option chain is a listing of all the available options contracts for a particular underlying asset, such as a stock, commodity, or currency. It typically includes the expiration date, strike price, and the bid and ask price for each option contract.

An option chain can be used to find the right options contract to trade. For example, a trader can use an option chain to find options contracts with expiration dates and strike prices that align with their investment goals and risk tolerance. They can also use the bid and ask prices to determine the price at which they can buy or sell an options contract.

What is Future & Options?

In futures trading, a buyer and seller agree to trade an underlying asset at a certain price on a future date. The buyer is obligated to purchase the asset, while the seller is obligated to sell it. This can be used to hedge against price changes in the underlying asset, or to speculate on future price movements. Options trading is similar, but it gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a certain price on or before a certain date. The buyer of an option pays a premium for this right. There are two main types of options: calls, which give the buyer the right to buy an underlying asset, and puts, which give the buyer the right to sell an underlying asset. Options can be used for hedging or speculation, as well as for creating more complex trading strategies.

Options trading is similar, but it gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a certain price on or before a certain date. The buyer of an option pays a premium for this right. There are two main types of options: calls, which give the buyer the right to buy an underlying asset, and puts, which give the buyer the right to sell an underlying asset. Options can be used for hedging or speculation, as well as for creating more complex trading strategies.

What is Open Interest?

Open interest is a measure of the number of outstanding option or futures contracts that have not been settled or closed. It represents the number of contracts that have been initiated, but not yet liquidated by an offsetting transaction or fulfilled by delivery.

Open Interest is a commonly used metric in options and futures trading, it can be found on most trading platforms, and it can provide valuable information for traders to analyze the market sentiment and liquidity of the underlying assets.

What is Change in Open Interest (OI)?

Change in OI means how many new contracts added or removed to current trading session as compared to last day trading session closing.

What are Options Greek?

Options Greeks are a set of metrics that are used to measure the sensitivity of an option's price to different factors, such as changes in the price of the underlying asset, changes in volatility, and changes in the time remaining until the option's expiration date. The main options Greeks are:

Delta: Measures the change in the option's price in relation to a change in the price of the underlying asset. A delta of 0.5, for example, means that if the underlying asset's price increases by $1, the option's price will increase by $0.50.

Gamma: Measures the change in delta in relation to a change in the price of the underlying asset. A high gamma means that delta is changing rapidly as the underlying asset's price changes, which can indicate a high level of risk.

Theta: Measures the change in the option's price in relation to the time remaining until the option's expiration date. A theta of -0.05, for example, means that if the option has one year until expiration, its value will decrease by $0.05.

Vega: Measures the change in the option's price in relation to a change in volatility. A vega of 0.10, for example, means that if volatility increases by 1%, the option's price will increase by $0.10.

Rho: Measures the change in the option's price in relation to the change in the interest rate. A high Rho means that the option's price is more sensitive to interest rate changes.

Options Greeks are important tools that traders can use to assess the risk and potential rewards of different options trades, and to make more informed decisions about how to manage their positions. It is important to note that these metrics are based on mathematical models and assumptions, which can be affected by market conditions and other factors.

What is Implied Volatility(IV)?

Implied volatility (IV) is a metric that is used to estimate the level of volatility that is implied by the current price of an option. It is derived mathematically from the option's price, strike price, expiration date, and other factors, using a model such as the Black-Scholes model.

Implied volatility is useful because it provides a measure of the market's expectation of how much the price of the underlying asset will fluctuate in the future. A high implied volatility suggests that the market expects the underlying asset's price to be more volatile, while a low implied volatility suggests that the market expects the underlying asset's price to be less volatile.