Tuesday, February 24, 2015

Option Open Interest for 24-02-2015

Inference
The index opened positive at 8773 but stayed within the narrow range of 8700-8800 and closed flat at 8762.10, small gain of 7.15 points. The broader market though was weak, with 551 advances to 941 declines. Range as per Option Table comes to 8500-8900.
  • Call option 8750 added 2.07 lacs OI with profit booking seen at 8900 and above strike prices.
  • Put option 8750-8700 added 4.20 lacs OI with short covering seen at 8800 and above strike prices.
  • Nifty Open Interest is at 1,26,98,450 down by 38,24,925, whereas March series added 51.18 lacs with small increase in price, mostly rollover with long build-up.
  • Bank Nifty Open Interest is at 19,81,350 down by 2,53,325, whereas March series added 2.55 lacs with decrease in price, most probably 100% rollover.
  • FII’s sold 1.97 lacs Futures, which includes 42518 contracts long build-up and 50381 contracts short build-up, with increase in net OI by 92899 contracts (includes 304349 longs to 312212 shorts for the day) and the Average Price comes to 8883.34.
  • FII’s Index future open contract as on date is 786849 Longs to 173532 Shorts, net long 613317 down by 7863 contracts.
  • Initial and best support still at 8700, with OI of 44.96 lacs and below that at 8600 with OI of 30.62 lacs.
  • Initial resistance at 8800, with OI of 39.49 lacs and above that at 8900 with huge OI of 57.32 lacs.
  • Day Range as per Option Table is 8687 - 8840 and as per VIX is 8663 - 8861 with 8763 as the Pivot.
India VIX : 21.55 down by 0.08 points
Call OI : 38540625
Put OI : 33396525
PCR OI : 0.867
SMR : 24.87 (Bearish with Caution: The CE writers covered in huge quantity but OI table is still tilted towards the Bears with 8900-9000 level being super resistance...)