Tuesday, November 24, 2015

Option Open Interest for 24-11-2015

Inference
The index opened flat to negative and stayed in a narrow range for the second day in a row but closed weak around the lows of the day at 7831.60, loss of 17.65 points. The broader market though was positive, with 847 advances to 678 declines. The range for expiry is 7800-7900.
  • Call option 7850-7900 added 8.37 lacs OI with profit booking seen at 8000 and above strike prices.
  • Put option 7850-7800 added 9.85 lacs OI with profit booking seen at 7700 and below strike prices.
  • Nifty Open Interest is at 1,18,00,800 down by 19,71,300, whereas Dec series added 35.17 lacs with decrease in price, most probably 100% roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 13,99,440 down by 4,03,770, whereas Dec series added 3.76 lacs with decrease price, mostly roll-over with small long liquidation.
  • FII’s sold 0.61 lacs Futures, which includes net 17208 contracts long build-up and 19633 contracts short build-up, with increase in net OI by 36841 contracts, includes 115734 longs to 118159 shorts for the day.
  • FII’s Index future open contract as on date is 215370 Longs to 202820 Shorts, Net Long 12550 down by 2425 contracts.
  • Initial and best support at 7800, with OI of 47.58 lacs and below that at 7700 with OI of 39.83 lacs.
  • Initial and very good resistance at 7900, with OI of 51.87 lacs and above that at 8000 with highest OI of 59.24 lacs.
  • Day Range as per Option Table is 7772 - 7900 and as per VIX is 7765 - 7898 with 7838 as the Pivot.
India VIX : 16.25 down by 0.83 points
Call OI : 42056550
Put OI : 31575975
PCR OI : 0.751
SMR : 21.64 (Bearish : Expiry as per OI table could happen within the 7800-7900 range, though the bias stays negative with PCR around 0.75...)