Tuesday, September 22, 2015

Option Open Interest for 22-09-2015

Inference
The Index opened strong but after staying in a narrow range for the better part of first half saw huge sell-off to break one support after another and closed near the lows at 7812.00, huge loss of 165.10 points. The broader market was also weak, with 430 advances to 1075 declines. The broader range till expiry has come down to 7600-8100.
  • Call option 7800-8100 added huge 18.61 lacs OI with profit booking seen at 8200 and above strike prices.
  • Put option 7800, 7600 added 3.07 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,77,66,700 down by 13,50,250, whereas Oct series added 54.62 lacs with decrease in price, most probably 100% roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 19,90,400 down by 3,82,975, whereas Oct series added 6.07 lacs with decrease in price, most probably 100% roll-over with huge short build-up.
  • FII’s sold huge 9.00 lacs Futures, which includes 80482 contracts long build-up and 116478 contracts short build-up, with increase in net OI by 196960 contracts (includes 439439 longs to 475435 shorts for the day) and the Average Price comes to 8006.43.
  • FII’s Index future open contract as on date is 816213 Longs to 665809 Shorts, Net Long 150404 down by huge 35996 contracts.
  • Initial and best support still at 7800, with OI of 49.43 lacs and below that at 7700 with OI of 31.89 lacs.
  • Initial resistance at 7900, with OI of 30.33 lacs and above that at 8000 with OI of 42.43 lacs.
  • Day Range as per Option Table is 7755 - 7961 and as per VIX is 7729 - 7895 with 7874 as the Pivot.
India VIX : 20.35 up by 2.17 points
Call OI : 42170275
Put OI : 43410150
PCR OI : 1.029
SMR : 19.77 (Bearish : The Bears are back with just 2 days to expiry, support still the best around 7800, but a gap-down can see huge short covering and can bring lower levels very fast...)