Tuesday, May 26, 2015

Option Open Interest for 26-05-2015

Inference
The Index opened flat to positive but saw selling pressure to move to the lows of the day at 8320. A smart short covering rally towards the end saw the index cover most of the losses but still closed in red at 8339.35, loss of 30.90 points. The broader market was also weak, with 580 advances to 892 declines. Range as per Option Table till expiry is at 8000-8500.
  • Call option 8300-8400 added huge 19.88 lacs OI with profit booking seen at 8500 and above strike prices.
  • Put option 8200 added 4.79 lacs OI with short covering seen at 8400 and above strike prices.
  • Nifty Open Interest is at 1,07,50,750 down by 11,64,400, whereas June series added 20.99 lacs with decrease in price, most probably 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 14,83,050 down by 1,40,475, whereas June series added 2.42 lacs with increase in price, most probably 100% rollover with long build-up.
  • FII’s bought 1.87 lacs Futures, which includes 39491 contracts long build-up and 32027 contracts short build-up, with increase in net OI by 71518 contracts (includes 156529 longs to 149065 shorts for the day) and the Average Price comes to 8874.93.
  • FII’s Index future open contract as on date is 370136 Longs to 348383 Shorts, Net Long 21753 contracts.
  • Initial and best support still at 8300, with OI of 49.48 lacs and below that at 8200 with OI of 47.36 lacs.
  • Initial resistance at 8400, with OI of 48.35 lacs and above that at 8500 with highest OI of 58.43 lacs.
  • Day Range as per Option Table is 8274 - 8415 and as per VIX is 8265 - 8414 with 8346 as the Pivot.
India VIX : 17.07 up by 0.14 points
Call OI : 36822175
Put OI : 39091100
PCR OI : 1.062
SMR : 16.08 (Neutral to Bearish: The CE writers tried to tighten the noose with huge addition at 8300-8400 level, based on the above an Expiry below 8400 is very much possible, 8300 still the best Support...)