Wednesday, July 29, 2015

Option Open Interest for 29-07-2015

Inference
The Index opened positive and stayed positive albeit in a narrow range for entire session of trade and closed near the top at 8375.05, gain of 38.05 points. The broader market was positive, with 910 advances to 597 declines. The range for expiry as per OI table comes to 8300-8500.
  • No Call option added any OI whereas short covering was seen at 8400 and below strike prices.
  • Put option 8350-8100 added huge 15.85 lacs OI with huge short covering seen at 8400 and above strike prices.
  • Nifty Open Interest is at 1,14,88,875 down by 33,77,125, whereas August series added 29.89 lacs with increase in price, mostly rollover with small short covering.
  • Bank Nifty Open Interest is at 11,54,975 down by 3,33,500, whereas August series added 3.78 lacs with increase in price, most probably 100% rollover with small long build-up.
  • FII’s sold 15.83 lacs Futures, which includes 39643 contracts long liquidation and 23662 contracts short build-up, with decrease in net OI by 15981 contracts (includes 222437 longs to 285742 shorts for the day) and the Average Price comes to 8568.32.
  • FII’s Index future open contract as on date is 659237 Longs to 337297 Shorts, Net Long 321940 contracts.
  • Initial and best support stays at 8300, with OI of 52.27 lacs and below that at 8200 with OI of 45.78 lacs.
  • Initial resistance at 8400, with OI of 46.84 lacs and above that at 8500 with highest OI of 57.31 lacs.
  • Day Range as per Option Table is 8302 - 8435 and as per VIX is 8305 - 8445 with 8365 as the Pivot.
August Series OI and how it is shaping up...

India VIX : 15.88 down by 0.04 points
Call OI : 37222075
Put OI : 39881350
PCR OI : 1.071
SMR : 14.82 (Bearish to Neutral : The CE writers after many days felt the heat and covered en-mass but the PE writers stayed firm around 8300, based on the same, Expiry range comes around 8300-8400...)