Monday, September 21, 2015

Option Open Interest for 21-09-2015

Inference
The Index opened weak around 7900 level but say sustained buying from the open itself to move back in green but closed flat at 7977.10, small loss of 4.80 points. The broader market though was strong, with 961 advances to 538 declines. The broader range till expiry has boiled down to 7800-8100.
  • Call option 7900-8300 added huge 19.46 lacs OI with short covering seen at 7800 and lower strike prices.
  • Put option 7900, 7700 added 6.05 lacs OI with profit booking seen at 7600 and below strike prices.
  • Nifty Open Interest is at 1,91,16,950 down by 27,35,100, whereas Oct series also added 37.83 lacs with no change in price, most probably 100% roll-over with huge short/long build-up.
  • Bank Nifty Open Interest is at 23,73,375 down by 9,475, whereas Oct series also added 1.70 lacs with increase in price, most probably 100% roll-over with huge long build-up.
  • FII’s sold huge 21.94 lacs Futures (but why?), which includes 10776 contracts long build-up and 98537 contracts short build-up, with increase in net OI by 109313 contracts (includes 245228 longs to 332989 shorts for the day) and the Average Price comes to 8220.62.
  • FII’s Index future open contract as on date is 735731 Longs to 549331 Shorts, Net Long 186400 down by huge 87761 contracts.
  • Initial support still at 7900, with OI of 33.44 lacs and below that at 7800 with highest OI of 47.09 lacs.
  • Initial and best resistance at 8000, with OI of 40.68 lacs and above that at 8100 with OI of 34.77 lacs.
  • Day Range as per Option Table is 7870 - 8056 and as per VIX is 7901 - 8053 with 7958 as the Pivot.
India VIX : 18.18 down by 0.11 points
Call OI : 41361575
Put OI : 47229450
PCR OI : 1.142
SMR : 15.92 (Bullish : Expiry week starts with a flat close and the index still within the range of 7800-8100, Resistance for the time being developing at 8000, Stay cautious at higher levels...)