Call-Put Cross Strike Match [Pro]

📊 Call-Put Cross Strike Match [Pro] - Professional Options Trading Indicator
Advanced NSE Options Analysis with AI-Powered Trading Signals & Dynamic Display

🎯 Overview
The Call-Put Cross Strike Match [Pro] is an institutional-grade options analysis tool designed exclusively for NSE NIFTY and BANKNIFTY traders. Built on Pine Script v6, this indicator combines sophisticated cross-strike matching algorithms with intelligent trading signal generation to identify optimal options trading opportunities in real-time.

What makes it unique:

Analyzes 25 call-put combinations simultaneously

Generates actionable BUY/SELL signals using professional strategies

Fully customizable display with 9 table positions and 6 size options

Simplified setup with semi-automatic ATM detection

Clean, clutter-free interface with only essential information

Perfect for intraday scalpers, premium sellers, and positional options traders.

✨ Key Features
1. 🔍 Advanced Cross-Strike Matching Algorithm
The indicator calculates price differences for all 25 combinations (5 call strikes × 5 put strikes) and identifies the best matches based on put-call parity.

How it works:

Compares each call option price with every put option price

Calculates absolute difference: |Call - Put[j]|

Ranks all 25 combinations from lowest to highest difference

Highlights top 3 or top 5 matches with visual checkmarks

Visual indicators:

✓✓ (Double check) = Best match (lowest price difference)

✓ (Single check) = Good matches (top 3 or top 5)

Empty cells = No match (significant price difference)

Why this matters:
When Call ≈ Put at same strike, it indicates fair pricing and synthetic position opportunities. The indicator automatically finds these opportunities across different strike combinations.

2. 🎯 Intelligent Trading Signals (Last Column)
The indicator generates professional trading recommendations based on Call-Put price difference analysis:

Signal Types:

BUY CE - Long call opportunity (bullish)

SELL CE - Short call opportunity (premium selling)

BUY PE - Long put opportunity (bearish/hedge)

SELL PE - Short put opportunity (premium selling)

BULL - Moderate bullish bias

BEAR - Moderate bearish bias

ATM - Neutral market (near parity)

NEUTRAL - No clear bias

Color-Coded for Quick Decisions:

🟩 Green = Long opportunities (BUY CE, BULL)

🟥 Red = Short call opportunities (SELL CE)

🟧 Orange = Long put opportunities (BUY PE)

🟫 Maroon = Short put opportunities (SELL PE)

⬛ Gray = Neutral zones (ATM, NEUTRAL)

3. 🤖 Three Professional Signal Modes
SMART Mode (Recommended) 🎯
Context-aware institutional strategy that considers strike position relative to spot price.

Signal Logic:

text
OTM Call Expensive (C-P > threshold, Strike > Spot):
→ SELL CE (Premium selling opportunity)

ITM Call Underpriced (C-P > threshold, Strike < Spot):
→ BUY CE (Synthetic long opportunity)

OTM Put Expensive (C-P < -threshold, Strike < Spot):
→ SELL PE (Premium selling opportunity)

ITM Put Underpriced (C-P < -threshold, Strike > Spot):
→ BUY PE (Protection or synthetic short)

Near Parity (|C-P| < threshold/4):
→ ATM (Neutral market, straddle/strangle zone)

Moderate Imbalance:
→ BULL or BEAR (Directional bias without extreme pricing)
Best for: Professional traders, option writers, synthetic position builders

MOMENTUM Mode 📈
Trend-following strategy that rides market momentum.

Signal Logic:

text
Calls Expensive (C-P > threshold):
→ BUY CE (Follow bullish momentum)

Puts Expensive (C-P < -threshold):
→ BUY PE (Follow bearish momentum)

Near Parity:
→ NEUTRAL (No clear trend)
Best for: Intraday scalpers, directional traders, swing traders

MEAN REVERSION Mode 🔄
Counter-trend strategy focused on premium selling.

Signal Logic:

text
Calls Overpriced (C-P > threshold):
→ SELL CE (Collect inflated premium)

Puts Overpriced (C-P < -threshold):
→ SELL PE (Collect inflated premium)

Near Parity:
→ ATM (Fair value, no edge)
Best for: Option writers, theta decay strategies, credit spread traders

4. 🎨 Fully Customizable Display
Dynamic Table Positioning (9 Options):

Top: left, center, right

Middle: left, center, right

Bottom: left, center, right

Choose position based on your chart layout and other indicators.

Dynamic Table Sizing (6 Options):

Auto - Adapts to content

Tiny - Minimal space (for cluttered charts)

Small - Default, best balance

Normal - Medium size (1080p monitors)

Large - Big text (4K monitors)

Huge - Maximum size (presentations)

Text scales intelligently:

Headers, data, and checkmarks adjust proportionally

Checkmarks remain visible even in tiny mode

Info row stays readable at all sizes

5. ⚙️ Simplified Input System
Auto Mode (Recommended):
Enter just 5 strikes once at market open - used for both calls and puts.

Example for NIFTY at 25,900:

text
Strike 1: 25850 (ATM - 100)
Strike 2: 25900 (ATM - 50)
Strike 3: 25950 (ATM)
Strike 4: 26000 (ATM + 50)
Strike 5: 26050 (ATM + 100)
Manual Mode (Advanced):
Enter separate call and put strikes for cross-strike arbitrage analysis.

Why this matters:

50% fewer inputs compared to traditional indicators

One-time setup at market open

Rarely needs updating (only if market moves 100+ points)

6. 🎛️ Semi-Automatic ATM Detection
The indicator automatically:

Detects current NIFTY/BANKNIFTY spot price

Calculates ATM strike (rounded to nearest 50 or 100)

Marks ATM strikes with *ATM in the table

Displays ATM and spot price in info box

No manual recalculation needed!

7. 📊 Clean Information Display
Main Table (Top/Middle/Bottom):

CE \ PE matrix showing all strike combinations

Checkmarks (✓✓ and ✓) highlighting best matches

SIGNAL column with color-coded trading recommendations

Best Match footer showing optimal combination

Info row displaying symbol, signal mode, and spot price

Info Box (Bottom Left):

Symbol (NIFTY/BANKNIFTY)

Signal Mode (Smart/Momentum/Mean Reversion)

Current Spot Price

Detected ATM Strike

Best Matched Call Strike

Best Matched Put Strike

Match Difference

C-P value for best match

📋 Quick Setup Guide (3 Steps)
Step 1: Add Indicator
Open NIFTY or BANKNIFTY chart on TradingView

Add "Call-Put Cross Strike Match [Pro]" from indicators

Step 2: Configure Basic Settings
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Symbol Detection: Auto (reads from chart)
Expiry Date: 251219 (format: YYMMDD for 19-Dec-2025)
Strike Mode: Auto
Strike Interval: 50 (for NIFTY) or 100 (for BANKNIFTY)
Step 3: Enter Strikes
At market open (9:15 AM), check current price and enter 5 strikes:

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Example: NIFTY at 25,937

Strike 1: 25850 (ATM - 100)
Strike 2: 25900 (ATM - 50)
Strike 3: 25950 (ATM) ← Rounded to nearest 50
Strike 4: 26000 (ATM + 50)
Strike 5: 26050 (ATM + 100)
That's it! The indicator handles everything else automatically.

💡 Real-World Use Cases
1. 📉 Premium Selling (Mean Reversion Mode)
Scenario: Looking for overpriced options to write

How to use:

Set Signal Mode to "Mean Reversion"

Set Threshold: 30 (NIFTY) or 75 (BANKNIFTY)

Look for SELL CE or SELL PE signals with ✓ or ✓✓

Sell naked options or credit spreads at those strikes

Target 30-50% profit or 3-5 days theta decay

Perfect for: Credit spreads, iron condors, covered calls, naked puts

2. 📈 Directional Trading (Momentum Mode)
Scenario: Scalping intraday moves

How to use:

Set Signal Mode to "Momentum"

Set Threshold: 15 (aggressive) or 25 (conservative)

BUY CE signal + ✓✓ = Long call entry

Enter with tight stop (20% of premium)

Target 30-50% gain within 1-2 hours

Perfect for: Intraday scalping, swing trading, trend following

3. 🔄 Synthetic Positions (Smart Mode)
Scenario: Building synthetic long/short with defined risk

How to use:

Set Signal Mode to "Smart"

Look for BUY CE at ITM strike + SELL PE at OTM strike

Both should have ✓ indicator (good parity)

Creates synthetic long position

Lower capital than buying futures

Perfect for: Professional traders, arbitrage, capital efficiency

4. ⚖️ ATM Strategy Optimization (Smart Mode)
Scenario: Finding optimal strikes for straddle/strangle

How to use:

Identify strike marked *ATM

Check if signal shows ATM (balanced market)

If BULL/BEAR → Market has directional bias, adjust accordingly

✓✓ indicates best matched strike for neutral strategies

Perfect for: Volatility trading, earnings plays, event trading

5. 🛡️ Hedging Optimization (Smart Mode)
Scenario: Protecting long equity positions

How to use:

Look for BUY PE signals (protection signals)

Avoid strikes with SELL PE (expensive hedges)

✓✓ shows best value for hedge entry

Optimize hedge timing and strike selection

Perfect for: Portfolio hedging, risk management, protective puts

⚙️ Settings Guide
Symbol Settings
Symbol Detection: Auto (recommended) or Manual

Manual Symbol: NIFTY or BANKNIFTY

Expiry Date: Format YYMMDD (e.g., 251219 = 19-Dec-2025)

Update every Thursday after 3:30 PM for next week's expiry

Strike Settings
Strike Mode: Auto (recommended) or Manual

Strike Interval:

50 for NIFTY

100 for BANKNIFTY

Trading Signals
Signal Mode: Smart / Momentum / Mean Reversion

Smart: Professional institutional strategy (default)

Momentum: Trend-following for scalpers

Mean Reversion: Premium selling for writers

Signal Threshold: Sensitivity in points

NIFTY Recommendations:

Conservative: 30-40 points (fewer, higher quality signals)

Balanced: 20-25 points (default)

Aggressive: 10-15 points (more signals, more noise)

BANKNIFTY Recommendations:

Conservative: 75-100 points

Balanced: 50-60 points (default)

Aggressive: 30-40 points

Algorithm Settings
Matching Mode:

Top 3: Shows 3 best matches (cleaner display)

Top 5: Shows 5 best matches (more opportunities)

Display Settings
Show Matching Table: Enable/disable main table

Table Position: Choose from 9 positions

top_right (default) - Doesn't block price action

middle_right - Centered vertical view

bottom_right - If top is crowded

Table Size: Choose from 6 sizes

small (default) - Best for most users

normal - For 1080p/4K monitors

tiny - If you have many indicators

📊 Understanding The Table
Table Layout Example:
text
CE \ PE | 25950 | 25900 | 25850 | 26000 | 26050 | SIGNAL
---------|-------|-------|-------|-------|-------|--------
25850 | | | | | | SELL PE
25900*ATM| | ✓ | | | | ATM
25950 | ✓✓ | | | | | BULL
26000 | | | | ✓ | | BUY CE
26050 | | | | | | SELL CE
---------|-------|-------|-------|-------|-------|--------
Best Match: 25950 / 25950 (0.25)
Info: NIFTY | Smart | Spot:25881.9
Reading the Table:
Rows (Left): Call option strike prices

Columns (Top): Put option strike prices

Cells: Checkmarks where Call[row] ≈ Put[column]

✓✓: Best match (minimum price difference)

✓: Good matches (top 3 or 5)

Empty: Prices too different (no match)

*ATM: Automatically detected at-the-money strike

SIGNAL Column: Actionable trading recommendation for each call strike

Info Box Metrics:
Symbol: Currently analyzed index

Signal Mode: Active strategy

Spot: Current underlying price

ATM: Calculated at-the-money strike

Best Call: Matched call strike

Best Put: Matched put strike

Match Diff: Price difference (lower = better)

C-P (Best): Call minus Put for best match

📈 Best Practices
Strike Selection & Maintenance
At Market Open (9:15 AM):

Check current price (e.g., NIFTY at 25,937)

Round to nearest interval (25,950 for 50 interval)

Enter 5 strikes: -100, -50, 0, +50, +100 from ATM

Update Frequency:

Usually no update needed entire day

Update only if market moves 100+ points from initial ATM

Typically 0-2 updates per trading session

Signal Interpretation by Confidence Level
High Confidence (✓✓ + Signal):

Best match indicator present

Strongest signal quality

Highest probability setup

Medium Confidence (✓ + Signal):

Good match present

Reliable signal

Acceptable risk/reward

Low Confidence (Signal without ✓):

No match indicator

Strike far from parity

Requires additional confirmation

Risk Management Rules
Never trade signals blindly. Always:

✅ Confirm with price action and support/resistance

✅ Check overall market trend (NIFTY/BANKNIFTY direction)

✅ Consider time decay (theta) for your position

✅ Monitor IV changes (implied volatility)

✅ Use proper position sizing (1-2% risk per trade)

✅ Set stop losses (20-30% of premium for longs)

✅ Have profit targets (30-50% for scalps)

Timeframe Selection
Intraday Trading:

Use 5-minute or 15-minute chart

Momentum or Smart mode

Lower threshold (aggressive)

Quick entries and exits

Positional Trading:

Use hourly or daily chart

Smart or Mean Reversion mode

Higher threshold (conservative)

Swing trade positions

Combining with Other Tools
Recommended complements:

Support/resistance levels (horizontal lines)

Trend indicators (EMA 20/50, SuperTrend)

Volume analysis (confirm breakouts)

India VIX (volatility context)

Option chain data (open interest)

🎓 Strategy Examples
Strategy 1: Professional Premium Selling
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Mode: Mean Reversion
Threshold: 30 (NIFTY) / 75 (BANKNIFTY)
Timeframe: Daily

Rules:
1. Wait for SELL CE or SELL PE signal
2. Verify strike has ✓ or ✓✓ (good parity)
3. Check if OTM (Strike away from spot)
4. Sell option or create credit spread
5. Target: 30-50% profit or 3-5 days theta
6. Stop: If signal changes to BUY

Position: Naked short or credit spreads
Risk: Define with spreads or capital allocation
Strategy 2: Intraday Momentum Scalping
text
Mode: Momentum
Threshold: 15 (aggressive)
Timeframe: 5-minute

Rules:
1. Wait for BUY CE signal + ✓✓
2. Enter long call immediately
3. Stop loss: 20% of premium paid
4. Target 1: 30% gain (partial exit)
5. Target 2: 50% gain (full exit)
6. Exit if signal changes or 2 hours pass

Position: Long calls or long puts only
Risk: 1-2% of capital per trade
Strategy 3: Synthetic Long Position
text
Mode: Smart
Threshold: 25 (NIFTY) / 60 (BANKNIFTY)
Timeframe: Hourly

Rules:
1. Identify BUY CE signal at ITM strike
2. Identify SELL PE signal at OTM strike
3. Both should have ✓ indicator
4. Buy ITM call + Sell OTM put = Synthetic Long
5. Lower capital than futures
6. Defined risk (width of strikes)

Position: Call debit + Put credit
Risk: Net debit paid (defined risk)
Strategy 4: ATM Straddle Entry
text
Mode: Smart
Threshold: 20 (default)
Timeframe: Daily

Rules:
1. Find strike marked *ATM
2. Check signal shows "ATM" (neutral)
3. Verify ✓✓ at that strike
4. Sell ATM call + Sell ATM put
5. Collect maximum premium
6. Exit at 30% profit or before expiry

Position: Short straddle or iron condor
Risk: Use defined risk (iron condor recommended)
🔔 Important Notes
Data Accuracy
Indicator uses TradingView's NSE options data feed

Always verify prices independently before trading

Ensure market is open (9:15 AM - 3:30 PM IST)

Check for "-" in cells indicating missing data

Expiry Management
Update expiry date every week on Thursday post-closing

Format: YYMMDD (6 digits)

Weekly expiry: Every Thursday

Monthly expiry: Last Thursday of month

Strike Format
NIFTY: Multiples of 50 (25850, 25900, 25950...)

BANKNIFTY: Multiples of 100 (51800, 51900, 52000...)

Wrong strikes = No data in table

Performance Optimization
Indicator updates every bar close

No lag or performance issues

Works on all timeframes (1m to 1D)

Maximum 5 calls + 5 puts = 10 security calls (within limits)

⚠️ Disclaimer
Trading options involves substantial risk of loss and is not suitable for all investors. This indicator is provided for educational and informational purposes only. It does not constitute financial advice, investment advice, or trading advice.

Important disclaimers:

Options can expire worthless, resulting in 100% loss

Past performance of signals is not indicative of future results

Accuracy depends on TradingView's NSE data feed

Signals are mathematical analysis, not predictions

You are solely responsible for your trading decisions

The developer is not liable for any trading losses incurred while using this indicator.

Before trading, ensure you understand:

Options Greeks (Delta, Gamma, Theta, Vega, Rho)

Implied volatility and its impact

Time decay and expiration risks

Assignment risk for short positions

Liquidity and slippage considerations

Margin requirements and capital needs

Always:

Use proper risk management (1-2% per trade)

Trade with capital you can afford to lose

Paper trade before live trading

Consult with a licensed financial advisor

Start with small position sizes

Never risk more than you can afford to lose

📊 Technical Specifications
Platform: TradingView Pine Script v6

Exchanges: NSE (National Stock Exchange of India)

Instruments: NIFTY, BANKNIFTY options

Timeframes: All (1m, 5m, 15m, 1h, 1D)

Strikes Analyzed: 5 calls × 5 puts = 25 combinations

Security Calls: 10 (5 calls + 5 puts)

Table Positions: 9 (all corners and centers)

Table Sizes: 6 (auto to huge)

Signal Modes: 3 (Smart, Momentum, Mean Reversion)

Performance: Optimized, minimal lag

🎯 Who Should Use This?
✅ Perfect For:
Options Traders: Intraday and positional

Premium Sellers: Option writers and theta strategists

Arbitrage Traders: Synthetic position builders

Straddle/Strangle Traders: ATM strategy traders

Professional Traders: Institutional-grade analysis

Volatility Traders: IV imbalance exploiters

Scalpers: Quick intraday moves

❌ Not Suitable For:
Stock options traders (NSE index-specific)

Equity-only traders (requires options knowledge)

International markets (NSE format only)

Complete beginners (requires basic options understanding)

💬 FAQ
Q: Why manual strike entry? Why not fully automatic?
A: Pine Script's type system limits fully automatic strike generation from live data. However, setup takes just 30 seconds once at market open, and the indicator handles all analysis automatically throughout the day.

Q: How often should I update strikes?
A: Rarely! Only when market moves 100+ points from initial ATM. Usually 0-2 times per day, even in volatile markets.

Q: Which Signal Mode is best?
A: Smart mode (default) for professional trading. Use Momentum for intraday scalping, Mean Reversion for premium selling.

Q: Can I use this for stock options?
A: No. The indicator is designed specifically for NSE index options (NIFTY and BANKNIFTY) with NSE format.

Q: Does it work on mobile?
A: Yes, but table display is optimized for desktop/tablet screens. Use "tiny" or "small" size on mobile.

Q: What if I see "-" in cells?
A: Check expiry format (YYMMDD), verify strikes match NSE strikes, and ensure market is open.

Q: What's the difference between ✓✓ and ✓?
A: ✓✓ = Best match (lowest price difference), highest quality. ✓ = Good matches (top 3-5), reliable quality.

Q: Can I backtest this indicator?
A: The indicator shows live analysis. For backtesting options strategies, you'll need historical options data and separate backtesting tools.

Q: What does the info box show?
A: Bottom-left box shows key metrics: symbol, signal mode, spot price, ATM strike, best matched strikes, match difference, and C-P value.

Q: Why no chart plotting?
A: v1.0 focuses on clean table display with maximum information density. Chart plotting may be added in future versions based on user feedback.

🙏 Credits
Developed by a professional options trader for the Indian trading community. Inspired by institutional trading desks and market makers who use call-put parity for daily trading decisions.

Found This Helpful?
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📢 Share with fellow options traders

Feature Requests
Continuous improvement based on trader feedback. Suggest features in comments!

Planned Features (v2.0):

Multi-expiry comparison

Greeks display (Delta, Theta, Vega)

Historical signal performance stats

Custom signal formulas

Export to CSV functionality

🏷️ Tags for Search
#Options #OptionsTrading #NIFTY #BANKNIFTY #NSE #India #OptionChain #CallPut #PutCallParity #Straddle #Strangle #ATM #TradingSignals #OptionsStrategy #PremiumSelling #OptionsScanner #Derivatives #IntradayTrading #VolatilityTrading #Arbitrage #SyntheticPosition #OptionsGreeks #OptionsSelling #OptionsWriting #IndianStockMarket #NSEOptions #OptionsAnalysis #TechnicalAnalysis #AlgoTrading #QuantTrading #ProfessionalTrading #TradingIndicator #PineScript #TradingView

📝 Version History
v1.0 (Current - Dec 2025)

Pine Script v6 implementation

Cross-strike matching (5×5 matrix, 25 combinations)

Three signal modes (Smart, Momentum, Mean Reversion)

Trading signal generation with color coding

Dynamic table positioning (9 positions)

Dynamic table sizing (6 sizes)

Intelligent text scaling

Semi-automatic ATM detection

Auto symbol detection

Simplified input system (50% fewer inputs in Auto mode)

Clean information display

Info box with key metrics

NSE NIFTY & BANKNIFTY support

Start trading smarter with institutional-grade options analysis! 📈💰🚀

Disclaimer: Options trading is subject to market risk. Please read all scheme-related documents carefully before investing.