Friday, October 23, 2015

Option Open Interest for 23-10-2015

Inference
The Index opened gap-up above 8300 and stayed in a narrow range for the entire session oscillating around it, but closed just below at 8295.45, gain of 43.75 points. The broader market though was negative, with 659 advances to 856 declines. The range for the Expiry weeks comes at 8100-8400.
  • Call option 8350-8500 added huge 11.51 lacs OI with short covering seen at 8300 and below strike prices.
  • Put option 8400-8300 added huge 12.33 lacs OI with profit booking seen at 8200 and below strike prices.
  • Nifty Open Interest is at 1,85,27,025 down by 5,17,200, whereas Nov series added 13.59 lacs OI with increase in price, 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 20,85,250 down by 1,99,700, whereas Nov series added 1.01 lacs OI with increase in price, mostly roll-over with huge short covering.
  • FII’s bought huge 15.58 lacs Futures, which includes 36239 contracts long build-up and 26066 contracts short covering, with increase in net OI by 10173 contracts includes 132460 longs to 70155 shorts for the day.
  • FII’s Index future open contract as on date is 620389 Longs to 390034 Shorts, Net Long 230355 up by huge 62305 contracts.
  • Initial support at 8300, with huge OI addition of 8.24 lacs and below that at 8200 with OI of 54.07 lacs.
  • Initial resistance at 8400, with OI of 51.30 lacs and above that at 8500 with OI of 40.54 lacs.
  • Day Range as per Option Table is 8234 - 8359 and as per VIX is 8225 - 8366 with 8301 as the Pivot.
India VIX : 16.19 down by 0.43 points
Call OI : 34497650
Put OI : 45420275
PCR OI : 1.317
SMR : 12.30 (Bullish : The short squeeze took its toll on the 8300CE writers, though still has the highest OI but the invincibility Is missing, best support stays at 8200...)