Wednesday, September 9, 2015

Option Open Interest for 09-09-2015

Inference
The Index opened strong and stayed positive albeit in a narrow range and closed firm above the psychological level of 7800 at 7818.60, huge gain of 130.35 points. The broader market was also strong, with 1245 advances to 284 declines. The broader range for the series stays at 7500-8200.
  • Call option 8000-8400 added huge 11.61 lacs OI with short covering seen at 7900 and below strike prices.
  • Put option 7700-7600, 7300-7100 added huge 10.69 lacs OI with profit booking seen at 7500-7400 strike prices.
  • Nifty Open Interest is at 2,22,54,025 down by 14,91,000, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 24,16,425 up by 26,325, with increase in price, most probably long build-up.
  • FII’s bought 1.50 lacs Futures, which includes 18557 contracts long liquidation and 24567 contracts short covering, with decrease in net OI by 43124 contracts (includes 165892 longs to 159882 shorts for the day) and the Average Price comes to 8040.18.
  • FII’s Index future open contract as on date is 650905 Longs to 359485 Shorts, Net Long 291420 up by 6010 contracts.
  • Initial support up at 7800, with OI of 38.76 lacs and below that at 7600 with OI of 38.60 lacs.
  • Initial resistance at 8000, with OI of 37.34 lacs and above that at 8200 with OI of 41.64 lacs.
  • Day Range as per Option Table is 7691 - 7936 and as per VIX is 7719 - 7918 with 7810 as the Pivot.
India VIX : 24.30 down by 0.27 points
Call OI : 44714900
Put OI : 46110475
PCR OI : 1.031
SMR : 23.56 (Neutral to Bullish : The index closed firm with support now back at 7800 whereas solid resistance starts from 8000 and above, can see some range bound play now...)