Monday, August 24, 2015

Option Open Interest for 24-08-2015

Inference
The Index opened gap-down around 8055 and saw the biggest fall of the last 6 years closing 7806.35, huge loss of 490.95 points. The broader market was very weak, with just 65 advances to 1508 declines. The broader range for expiry comes to around 7700-8100.
  • Call option 7800-8400 added huge 92.91 lacs OI with profit booking seen at 8500 and above strike prices.
  • Put option 7800-7400 added huge 31.10 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,61,94,125 up by 14,56,500, whereas Sept series added a whopping 49.10 lacs with decrease in price, most probably HUGE short build-up in both series.
  • Bank Nifty Open Interest is at 20,52,750 down by 2,24,750, whereas Sept series added 1.90 lacs with decrease in price, most probably roll-over with huge long liquidation.
  • FII’s sold 3.89 lacs Futures, which includes 129121 contracts long build-up and 144666 contracts short build-up, with increase in net OI by 273787 contracts (includes 417831 longs to 433376 shorts for the day) and the Average Price comes to 7983.27.
  • FII’s Index future open contract as on date is 456673 Longs to 429587 Shorts, Net Long 27086 down by 15545 contracts.
  • Initial and best support now at 7800, with OI of 27.06 lacs and below that at 7700 with OI of just 15.96 lacs.
  • Initial resistance at 7900, with huge OI addition of 17.00 lacs and above that at 8000 with OI of 29.80 lacs.
  • Day Range as per Option Table is 7738 - 7985 and as per VIX is 7694 - 7924 with 7879 as the Pivot.
India VIX : 28.13 up by 11.01 points
Call OI : 45463975
Put OI : 27813375
PCR OI : 0.612
SMR : 45.98 (Highly Bearish: The biggest single day drop and the index closed at the lowest level of the year, no support working for the time being, Sell on Rise for the rest of the Series...)