Wednesday, June 25, 2014

Option Open Interest for 25-06-2014

Inference
The index opened flat to positive and stayed in a very narrow range of just 32 points for the entire session and closed just below at 7569.25, a small loss of 10.95 points. The broader market though was just positive, with 833 advances to 713 declines. Expected range for Expiry now at 7500-7600.
  • Call option 7600-7700 added 6.72 lacs huge amount of OI with profit booking seen at 7800 and above strike prices.
  • Put option 7500 added 0.38 lacs small amount of OI with short covering seen at 7600 and above strike prices.
  • Nifty Open Interest is at 92,69,800 down by 20,97,750, whereas next series added 31.16 lacs with decrease in price, most probably 100% rollover with some short build-up in next series.
  • Bank Nifty Open Interest is at 15,18,450 down by 2,74,400, whereas next series added 3.24 lacs with decrease in price, most probably 100% rollover with some short build-up in next series.
  • FII’s bought 2.26 lacs Futures, mostly long build-up as their net OI increased by 30194 contracts (includes 149375 longs to 144845 shorts for the day) and the average price per contract comes to around 7603.19.
  • FII’s future open contract as on date is 454094.
  • PCR Open Interest (Volume) has moved above 1 and now at 1.013.
  • Initial and best support at 7500, with huge OI of 66.80 lacs and below that at 7400 with OI of 38.77 lacs.
  • Initial and super resistance at 7600, with huge OI of 70.81 lacs and above that 7700 with highest OI of 79.06 lacs.
  • Expiry Day Range as per Option Table is 7505 - 7638 and as per VIX is 7497 - 7642 with 7572 as the Pivot.
Preview of July Option Table

Option Call for 26-06-2014
Buy Nifty 7500CE above 80 for targets of 91, 119 SL - 74
Buy Nifty 7600PE above 38 for targets of 47, 57 SL - 35

India VIX : 18.31 down by 0.88 points
Call OI : 39986200
Put OI : 40501200
PCR OI : 1.013
SMR : 18.08 (Neutral to Bullish: The index saw the smallest intraday range for the series with Option Table firmly locked between 7500 and 7600 level; Expiry could see huge volatility within this 100 points range...)