Friday, May 22, 2015

Option Open Interest for 22-05-2015

Inference
The Index opened positive and saw huge buying interest from the onset to make a high of 8490 but saw some profit booking in the second half to close a bit lower at 8458.95, gain of 37.95 points. The broader market though was weak, with 637 advances to 845 declines. Range as per Option Table is at 8000-8600.
  • Call option 8800 added 1.25 lacs OI with short covering seen at 8400 and below strike prices.
  • Put option 8500-8400 added huge 24.79 lacs OI with profit booking seen at 8300 and below strike prices.
  • Nifty Open Interest is at 1,28,65,450 down by 2,79,000, whereas June series added 12.70 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 17,73,000 up by 73,925, whereas June series added 0.79 lacs with decrease in price, most probably short build-up in both series.
  • FII’s bought huge 6.74 lacs Futures, which includes 55102 contracts long build-up and 28140 contracts short build-up, with increase in net OI by 83242 contracts (includes 124501 longs to 97539 shorts for the day) and the Average Price comes to 9033.73.
  • FII’s Index future open contract as on date is 329757 Longs to 317627 Shorts, Net Long 12130 contracts.
  • Initial support at 8400, with OI of 52.55 lacs and below that at 8300 with highest OI of 57.10 lacs.
  • Initial and best resistance at 8500, with OI of 49.89 lacs and above that at 8600 with OI of 45.84 lacs.
  • Day Range as per Option Table is 8381 - 8533 and as per VIX is 8384 - 8534 with 8456 as the Pivot.
India VIX : 16.95 down by 0.46 points
Call OI : 36288175
Put OI : 45818100
PCR OI : 1.263
SMR : 13.42 (Bullish: The PE writers have made sure that Expiry in all probability will now be above 8400, and maybe near the highest point of the Series, Stays a Buy on Dips...)