Wednesday, September 23, 2015

Option Open Interest for 23-09-2015

Inference
The Index opened weak around 7737 and went on make low at 7723, but sustained buying/short covering saw the index close back in green at 7845.95, gain of 33.95 points. The broader market was also positive, with 848 advances to 632 declines. The broader range for expiry has come down to 7700-8000.
  • Call option 7900-8000 added 2.75 lacs OI with short covering seen at 7800 and below strike prices.
  • Put option 7700-7600 added 11.86 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,53,49,300 down by 24,17,400, whereas Oct series added 22.62 lacs with increase in price, most probably roll-over with small short covering.
  • Bank Nifty Open Interest is at 17,04,275 down by 2,86,125, whereas Oct series added 6.24 lacs with increase in price, most probably 100% roll-over with huge long build-up.
  • FII’s sold 1.50 lacs Futures, which includes 13362 contracts long build-up and 19350 contracts short build-up, with increase in net OI by 32712 contracts (includes 247297 longs to 253285 shorts for the day) and the Average Price comes to 8144.38.
  • FII’s Index future open contract as on date is 829575 Longs to 685159 Shorts, Net Long 144416 down by huge 5988 contracts.
  • Initial support at 7800, with OI of 38.32 lacs and below that at 7700 with OI of 38.61 lacs.
  • Initial resistance at 7900, with OI of 32.66 lacs and above that at 8000 with OI of 42.85 lacs.
  • Day Range as per Option Table is 7721 - 7929 and as per VIX is 7761 - 7931 with 7817 as the Pivot.
October Series OI Table
India VIX : 20.69 up by 0.34 points
Call OI : 40134650
Put OI : 41962250
PCR OI : 1.046
SMR : 19.79 (Neutral with Bearish Bias : The Option Table going into expiry stays neutral around 7800 level, but huge swings could be seen as VIX still above 20, Average range could be 7741-7930...)