Wednesday, January 30, 2013

Option Open Interest for 30-01-2013

Inference
Nifty opened flat to positive, and traded within a very narrow range of 28 points for the entire session, with dips being bought into. The index ultimately closed the day flat at 6055.75 a small gain of just 5.85 points. The broader market was also weak, with 574 advances to 921 declines. The OI Table hints at either the CE writers at 6100 or the PE writers at 6000 will be tested on Expiry.
  • Call option 6000-5800 covered huge amount of OI with profit booking seen at 6100 and above strike prices.
  • Put Option 6100 and above covered huge amount of OI with profit booking seen at 5900 and below strike prices.
  • Highest accumulation on Call option 6200 at 1.22 crore & 6100 at 79.0 lacs whereas Put option 6000 at 83.2 lacs & 5900 at 77.9 lacs.
  • Nifty Open Interest is at 88,50,950 down by 6,57,950, whereas Feb series added 16.26 lacs with small increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 7,29,325, down by 60,425, whereas Feb series added 2.4 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • FII’s bought huge 5.11 lacs of Futures, most probably long build-up, as their net OI increased by 44721 contract and the average price per contract comes to around 6057.
  • FII’s future open contract as on date is 349950.
  • PCR Open Interest (Volume) is hovering around 1.285.
  • Support at 6000PE, with OI above 83.2 lacs and below that at 5900 with OI at 77.9 lacs.
  • Resistance at 6100CE, with OI above 78.9 lacs, and above that at 6200 with highest OI in Option Table at 1.22 crore.
  • Range as per Option Table is 6018 - 6096 and as per VIX is 6010 - 6101 with 6055 as the Pivot.

Option Table for February Series, with initial resistance developing at 6200

Option Call for 31-01-2013
Buy Nifty 6000CE above 63 for targets of 73, 86 SL - 60
Buy Nifty 6100PE above 46 for targets of 56, 67 SL - 43

India VIX : 14.38 down by 0.09
Call OI : 32501150
Put OI : 41768700
PCR OI : 1.285
SMR : 11.19 (Neutral: Huge un-winding was seen at both CE and PE strike prices just a day before expiry. Is it a lull before the storm? 6000-6100 could be range for EXPIRY...)