Monday, October 22, 2012

Option Open Interest for 22-10-2012

Inference
Nifty opened weak on negative global cues, but steadily gained momentum and the responsive buyers took control to move the index into positive territory and a psychological close above the 5700 level. Nifty closed around the high point of the day at 5717.15 a good gain of 32.90 points or 0.58%. The OI Table saw the Bulls getting back with huge addition at 5700 and 5600PE level, whereas only addition in CE was seen at 5800.
  • Call option 5800 added 9.80 lacs huge amount of OI, with huge liquidation seen at 5700 and below strike prices.
  • Put Option 5800-5600 added 26.64 lacs huge amount of OI, with profit booking seen at 5500 and below strike prices.
  • Highest accumulation on Call option 5800 at 1.17 crore & 5900 at 59.5 lacs whereas Put option 5600 at 83.6 lacs & 5700 at 62.5 lacs.
  • Nifty Open Interest is at 1,97,27,400 down by 24,73,900 whereas Nov series added 46.05 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 10,71,625 up by 25,200 whereas Nov series added 1.35 lacs with increase in price, most probably huge long build-up.
  • FII’s bought huge 4.05 lacs of Futures, most probably long build-up, as their Net OI also increased by 39.2lacs, and their average price per contract comes to around 5132.
  • FII’s future open contract as on date is 701013.
  • PCR Open Interest (Volume) is at 0.976 still comfortably below the danger level for the Bulls.
  • Initial support at 5700, with huge addition for the day at 7.74 lacs and below that at 5600 with OI above 83.6 lacs.
  • Huge and only resistance right now at 5800 with highest OI of above 1.17 crore.
  • Range as per Option Table is 5656 -5752 and as per VIX is 5678 - 5756 with 5700 as the Pivot.
Option Call for 23-10-2012
Buy Nifty 5700CE above 43 for targets of 52, 63 SL - 35
Buy Nifty 5700PE above 30 for targets of 42, 64 SL - 27

India VIX : 13.04 down by 1.50
Call OI : 37946350
Put OI : 37046250
PCR OI : 0.976
SMR : 13.36 (Neutral: Bulls wrested back the momentum to close above the psychological level of 5700, but need follow-up action tomorrow to stay in the game. The action right now is Neutral with neither party having much of an edge before expiry, or is that we see expiry around 5700 so that both parties get the full premium on Options...)