Sunday, January 24, 2016

Option Open Interest for 22-01-2016

Inference
The index opened strong and stayed strong for the entire session of trade making newer highs with each passing hour to close near the highs of the day at 7422.45, huge gain of 145.65 points. The broader market was also strong with 1313 advances to 266 declines. The range for the series is now at 7300-7800.
  • Call option 7450, 7800 added 7.59 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7450-7200 added huge 21.96 lacs OI with profit booking seen at 7100 and below strike prices.
  • Nifty Open Interest is at 1,84,87,500 down by 10,63,800, whereas Feb series added 13.43 lacs with increase in price, probably 100% rollover with long build-up.
  • Bank Nifty Open Interest is at 25,03,260 down by 3,10,110, whereas Feb series added 0.50 lacs with increase in price, probably huge short covering with small roll-over.
  • FII’s bought 2.73 lacs Futures, which includes net 1292 contracts long liquidation and 12219 contracts short covering, with decrease in net OI by 13511 contracts, includes 75810 longs to 64883 shorts for the day.
  • FII’s Index future open contract as on date is 152334 Longs to 151683 Shorts, Net 651 up by 10927 contracts.
  • Initial support at 7400, with OI of 47.69 lacs and below that at 7300 with OI of 72.45 lacs.
  • Initial resistance at 7450, with huge OI addition of 5.72 lacs and above that at 7500 with OI of 46.48 lacs.
  • Day Range as per Option Table is 7302 - 7504 and as per VIX is 7349 - 7496 with 7394 as the Pivot.
India VIX : 18.82 down by 1.99 points
Call OI : 50976150
Put OI : 46683225
PCR OI : 0.916
SMR : 20.55 (Neutral : A Huge gap-up saw huge short covering in most CE options and 7300 being cemented for the series, upside resistance around 7500...)