Wednesday, May 30, 2012

Option Open Interest for 30-05-2012

Inference
Nifty opened well below the dotted line and remained weak for the entire session, Bulls tried to move the index above the previous day’s close, but was sold off to the day’s low at 4950.75 a loss of 39.35. Again good rollover was seen today with June Series adding 21.6 lacs open interest. The Option Table saw huge addition at 5000CE which seems like the ceiling for this expiry.
  • Call option 4900-5000 added 9.16 lacs huge amount of OI, with huge profit booking seen at 5100 and above strike prices.
  • Put Option 4800 added 1.45 lacs huge amount of OI, with huge short covering seen at 5000 and above strike prices.
  • Highest accumulation on Call option 5000 at 62.9 lacs & 5100 at 60 lacs whereas Put option 4700 at 80.4 lacs & 4800 at 78.2 lacs.
  • Nifty Open Interest is at 1,46,47,000 down by 16,42,300 with decrease in price, whereas June series added a huge 21.6 lacs, most probably 100% rollover and huge short build-up.
  • Bank Nifty Open Interest is at 12,36,350 down by 2,31,925 with decrease in price, whereas June series added 3.43 lacs, most probably 100% rollover with huge short build-up.
  • FII’s sold huge 4.42 lacs of Futures most probably shortl build-up, as their OI also increased by 20.3 lacs, and their average price per contract comes to around 4740.
  • PCR Open Interest (Volume) dipped to 0.938 due to huge covering of 5000 and above PE levels.
  • Expiry support at 4900, with OI at 65.2 lacs and below that at 4800-4700 with OI of over 80 lacs.
  • Resistance is at 5000 with highest OI of 62.9 lacs and above that at 5100 with highest OI of 60 lacs.
  • Range as per Option Table is 4901 - 5014 and as per VIX is 4885 - 5016 with 4970 as the Pivot.
A sneak peek at June series show a range of 4800-5100 developing...
Option Call for 31-05-2012
Buy Nifty 4900CE above 50 for targets of 62, 79 SL - 39
Buy Nifty 4900PE above 14 for targets of 19, 29 SL - 9

India VIX : 25.30 up by 1.27 points
Call OI : 39755700
Put OI : 37279200
PCR OI : 0.938
SMR : 26.98 (Bearish : Option Table is poised within the range of 4900-5000 for Expiry, but Nifty has a knack of not doing the obvious...)