Wednesday, August 8, 2012

Option Open Interest for 08-08-2012

Inference
Nifty opened flat to positive and oscillated within a narrow range of 20 points with positive bias for the better part of the morning session. The index scaled new highs during the afternoon, but was promptly sold-off to the day’s low around 5330 but ultimately closed just in positive territory at 5338.00, a miniscule gain of 1.30 points. Today again the Option Table saw huge-huge addition at 5400-5200PE levels.
  • Call option 5600-5700 added 2.35 lacs huge amount of OI, with huge liquidation seen at 5300 and lower strike prices.
  • Put Option 5500-5200 added 21.68 lacs huge amount of OI, with profit booking seen at 4900 and lower strike prices.
  • Highest accumulation on Call option 5500 at 88.7 lacs & 5400 at 71.2 lacs whereas Put option 5000 at 1.06 Cr & 5100 at 75.3 lacs.
  • Nifty Open Interest is at 2,36,92,750 up by 4,73,450 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 22,74,950 down by 44,550 with decrease in price, most probably long liquidation.
  • FII’s bought huge 14.28 lacs of Futures, most probably long addition, as their OI also increased by 5.6 lacs, and their average price per contract comes to around 5161.
  • FII’s future open contract as on date is 5.98 lacs.
  • PCR Open Interest (Volume) has jumped to 1.537 due to huge addition at 5400-5200PE levels.
  • Initial support at 5300 with another round of huge addition of 9.5 lacs for the day with OI now at 66.1 lacs, and below that at 5200PE with OI of above 69.6 lacs.
  • Resistance is still good at 5400 though small liquidation was seen and above that at 5500 with OI above 88.7 lacs.
  • Range as per Option Table is 5290 -5394 and as per VIX is 5292 - 5384 with 5330 as the Pivot.
Option Call for 09-08-2012
Buy Nifty 5400CE above 57 for targets of 66, 79 SL - 53
Buy Nifty 5300PE above 53 for targets of 61, 69 SL - 49

India VIX : 16.37 up by 0.16 points
Call OI : 34688950
Put OI : 53315950
PCR OI : 1.537
SMR : 10.65 (Bullish: Though Nifty was sold off from the highs, but the underlying Option Table did not see any chink and is still very much in Bulls hand...)