Tuesday, October 8, 2013

Option Open Interest for 08-10-2013

Inference
Nifty saw a huge gap-up of 70 points and after making a high around 5980, drifted down with each passing hour to end the day near the lows. The index ultimately closed just a few points up at 5928.40, a small gain of 22.25 points. The broader market was positive, with 707 advances to 588 declines. Highest OI is at 5700PE and 6100CE for the time being.
  • Call option 6200-6500 added 8.70 lacs huge amount of OI with small short covering seen at 5800 and below strike prices.
  • Put option 6100-6000, 5800-5400 added 7.36 lacs huge amount of OI with small profit booking seen at 5900 strike price.
  • Nifty Open Interest is at 1,54,77,100 down by huge 5,60,850, with small increase in price, most probably huge short covering or could be long liquidation at higher levels.
  • Bank Nifty Open Interest is at 19,11,450 down by 12,050, with small increase in price, most probably some short covering.
  • FII’s sold huge 2.60 lacs Futures, mostly long liquidation, as their net OI decreased by 10331 contracts (includes 54678 longs and 59873 shorts) and the average price per contract comes to around 5808.95.
  • FII’s future open contract as on date is 385528.
  • PCR Open Interest (Volume) is still below 1.3 at 1.268.
  • Initial support still at 5900, though covered some OI, below that at 5800, with huge OI of 45.15 lacs.
  • Initial resistance at 6000, with OI of 40.87 lacs, above that at 6100 with huge OI of 45.70 lacs.
  • Day Range as per Option Table is 5864 - 6011 and as per VIX is 5846 - 6011 with 5941 as the Pivot.
Option Call for 09-10-2013

India VIX : 26.55 down by 0.28 points
Call OI : 33527300
Put OI : 42520500
PCR OI : 1.268
SMR : 20.93 (Neutral: A huge gap-up was wasted by the Bulls with the Bears defending 6000 level with ease, fight back to 5900 level. SMR still above 20 could benefit the Bears...)