Tuesday, July 24, 2012

Option Open Interest for 24-07-2012

Inference
It was a quiet session after the huge sell-off of yesterday with the Index moving in a narrow range of 30 points for the better part of the day. Nifty opened up and traded above the dotted line with a dip towards 5100 being promptly bought into. Nifty closed shop just positive at 5128.20 a smallish gain of 10.25 points. The Option Table saw huge addition at 5100PE, with expiry target boiling down to around 5100 for the time being. The invincibility aura of 5300CE has been taken away with huge profit booking of 12.8 lacs.
  • Call option 5100-5200 added a miniscule 69 thousand OI, with huge profit booking seen at 5300 and above strike prices.
  • Put Option 5200-5100 added 6.4 lacs huge amount of OI, with huge profit booking seen at 5000 and below strike prices.
  • Highest accumulation on Call option 5300 at 87.6 lacs & 5400 at 82.4 lacs whereas Put option 5000 at 79.9 lacs & 5100 at 67.8 lacs.
  • Nifty Open Interest is at 1,69,51,850 down by 50,56,850 with increase in price, whereas August series added 50.29 lacs OI, 100% rollover with small short covering.
  • Bank Nifty Open Interest is at 13,11,450 down by 2,71,100 with increase in price, whereas August series added 3.34 lacs of OI, 100% rolled over with some long addition.
  • FII’s sold huge 5.09 lacs Futures, most probably short build-up, as their OI also increased by 5.61 lacs, and their average price per contract comes to around 4989.
  • FII’s future open contract as on date is 6.63 lacs.
  • PCR Open Interest (Volume) is still holding above the ratio 1 and now placed at 1.068.
  • Support still very much at 5100 with huge addition today and now OI above 67.8 lacs, and below that at 5000, having highest OI on PE side at 79.9 lacs.
  • Resistance at 5200, with huge OI of 72.1 lacs and above that at 5300 with OI of above 87.6 lacs.
  • Range as per Option Table is 5078 -5179 and as per VIX is 5083 - 5174 with 5150 as the Pivot.
Option Call for 25-07-2012
Buy Nifty 5100CE above 47 for targets of 60, 73 SL - 44
Buy Nifty 5200PE above 72 for targets of 89, 105 SL - 68

India VIX : 16.97 down by 1.69 points
Call OI : 38992200
Put OI : 41644150
PCR OI : 1.068
SMR : 15.89 (Neutral to Bearish: Approx roll-over of around 70 lacs Nifty Future at an average price of 5140 till now, Bull above and Bear below...)