Price vs PCR: How to Read the ORCA PCR Chart Step by Step

Price vs PCR: How to Read the ORCA PCR Chart Step by Step

Many options traders will require more than one PCR value to know the market's positioning. ORCA Trading Platform of Enrich Money makes PCR analysis possible via Option Analysis feature of its platform where traders can see how the relationship between the underlying price and PCR looks like during the chosen period of time .  Among the features of ORCA Option Analysis there are Option Chain, OI Analysis, OI Surge, OI Statistics, Trending OI, PCR and Options Chart . Explore smarter derivatives insights with ORCA by Enrich Money, the online trading app in India that lets options traders track price–PCR relationships alongside powerful tools such as Option Chain, OI Analysis, OI Surge, OI Statistics, Trending OI and Options Chart.

What Is PCR?

Put-Call Ratio (PCR) represents the relationship between puts and calls. It can be calculated on the basis of either open interest or volume. The widely used OI version is given by the formula:

PCR = Total Put Open Interest ÷ Total Call Open Interest

If the PCR is greater than 1 then it is a signal that put open interest is greater than call open interest. If PCR is less than 1 then it means that call open interest is higher. However, PCR cannot always be seen as a bullish or bearish signal.

What Does ORCA's PCR Chart Show?

The PCR Chart in the PC Ratio segment within ORCA displays two lines:

• Price – displayed on the price scale at the left side.

• PCR – displayed on the PCR scale on the right side.

This is helpful for viewing the variation in PCR as the price of the stock changes.

In the screenshot provided for Bharat Forge Ltd., the chart depicts the chosen September 29, 2026 expiry, real-time data, date being August 31, 2026, and a time period of 1 hour.

Step-by-Step: How to Read the ORCA PCR Chart

Step 1: Open Option Analysis

Choose the underlying instrument that you would like to analyze and go to the Option Analysis module in ORCA. It includes a set of various derivatives analysis tools on a single platform.

Step 2: Select PC Ratio

From the list of Option Analysis tools, choose PC Ratio. The PCR Chart will appear with separate price and PCR lines.

Step 3: Select the Expiry

Select options expiry through the Expiry dropdown menu. It is important to select options expiry correctly as the options positions may differ from weekly, monthly and other available expiries.

Step 4: Choose Live Data or Date

The image above has the Live checkbox and the Date selection feature. Live mode could be helpful for traders who are analyzing the situation on the market during the trading session. Historical Date selection can be helpful for analysis of past sessions.

Step 5: Select the Time Interval

The ORCA feature makes it possible for the chart to be viewed according to the chosen time period. From the screenshot below, you can see that 1 Hour has been chosen. You can use a shorter period for an intraday chart or a longer period for easier identification of movements.

Step 6: Compare Price and PCR Direction

This is the major strength of the chart. Rather than studying PCR in isolation, see how PCR acts in relation to the movement of the price.

It is thus preferable to regard PCR as an indicator of sentiment rather than as a trading signal in itself . Track price and PCR movements together with ORCA’s advanced options insights, and get started with free demat account opening online to make more informed, sentiment-based trading decisions.

Step 7: Read the Two Scales Correctly

Key takeaway: The Y-Axes for Price and PCR are different. The price chart is shown on the left side, and PCR is shown on the right side.

Hence, traders need to check the direction and timing of the moves, not the height of both lines.

How Traders Can Use ORCA PCR Analysis

The PCR Chart can be especially helpful in recognizing shifts in the positioning of options. But traders need to use PCR Chart along with price action, Option Chain, Open Interest, Change in OI and all other tools of ORCA prior to taking any action . For example, in case PCR increases but price stays robust, the trader might find out if there are put writes around significant support levels. Or, a decreasing PCR during price decline can prompt investigation of the increase in call writings around resistance levels . The point here is that PCR gives context; one needs to confirm this with options data and price pattern.

Conclusion

The PC Ratio tool of ORCA allows users to make PCR analysis more visual through presenting price movement and PCR in one-time based chart. Choosing expiry date, trading date, live trading mode and time interval will allow users to observe how options positions move along with the price movement . When combined with other Option Analysis tools available at ORCA, the PCR Chart may assist in structuring option market sentiment analysis . Make options analysis more insightful with ORCA’s PC Ratio chart, designed to track price and PCR movements together—one reason traders consider Enrich Money among the best stock brokerage firms.

Frequently Asked Questions

What is PCR in options trading?

PCR, or Put-Call Ratio, compares put activity with call activity and is commonly calculated using open interest or trading volume. 

How do I access PCR in ORCA?

Open Option Analysis in ORCA and select the PC Ratio option to view the PCR Chart.

What does a rising PCR indicate?

A rising PCR indicates increasing put activity relative to calls, but its market implication depends on whether the positions represent buying or writing.

Can PCR alone predict market direction?

No; PCR should be combined with price action, OI, strike-wise positioning and other market indicators. 

What is the benefit of comparing Price and PCR in ORCA?

It allows traders to observe changes in PCR alongside underlying price movement rather than analysing the ratio as an isolated number.

Disclaimer: PCR is a technical indicator and cannot be used alone as a basis for trading. Trading in options has its inherent risks.