Wednesday, July 8, 2015

Option Open Interest for 08-07-2015

Inference
The Index opened huge gap-down and stayed weak throughout the entire session of trade with all up-move being sold with ease. Nifty ultimately closed near the lows of the day at 8363.05, huge loss of 147.75 points. The broader market was also weak, with 418 advances to 1100 declines. The range as per OI table stays at 7900-8700.
  • Call option 8300-8500 added huge 14.24 lacs OI with profit booking seen at 8700 and above strike prices.
  • Put option 8300, 7900 added 3.82 lacs OI with short covering seen at 8500 and above strike price.
  • Nifty Open Interest is at 1,81,89,875 down by 4,08,075, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 16,78,450 down by 1,13,175, with decrease in price, most probably huge long liquidation.
  • FII’s sold 4.10 lacs Futures, which includes 7400 contracts long liquidation and 8980 contracts short build-up, with increase in net OI by 1580 contracts (includes 116387 longs to 132767 shorts for the day) and the Average Price comes to 8508.10.
  • FII’s Index future open contract as on date is 544911 Longs to 201449 Shorts, Net Long 343462 contracts.
  • Initial and good support at 8300, with OI of 47.27 lacs and below that at 8200 with OI of 46.19 lacs.
  • Initial resistance at 8400, with huge OI addition of 7.12 lacs and above that at 8500 with OI of 45.83 lacs.
  • Day Range as per Option Table is 8304 - 8459 and as per VIX is 8285 - 8441 with 8387 as the Pivot.
India VIX : 17.79 up by 1.48 points
Call OI : 31048300
Put OI : 41931625
PCR OI : 1.351
SMR : 13.17 (Bearish to Neutral : A huge gap-down has created some chinks in the OI table, but very good support stays at 8300-8200 level, strong resistance around 8500, some range bound moves possible...)