Monday, May 30, 2016

Option Open Interest for 30-05-2016

Inference
The index opened flat to positive and went on to make a high around 8200 but closed midway at 8178.50, gain of 21.85 points. The broader market was negative with 775 advances to 790 declines. Range at the start of the series comes to 7900-8400.
  • Call option 8300-8700 added 12.48 lacs OI with short covering at 8100 and below strike prices.
  • Put option 8500-8000 added 29.67 lacs OI with profit booking at 7900 and below strike prices.
  • Nifty Open Interest is at 2,16,95,850 up by 7,57,950, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 17,04,930 down by 35,640 with no change in price, probably long liquidation.
  • FII’s bought 9170 contracts of Index Futures, which includes net 11457 contracts long build-up and 2287 contracts short build-up, with increase in net OI by 13744 contracts, includes 31189 longs to 22019 shorts for the day.
  • FII’s Index future open contract as on date is 242259 Longs to 53335 Shorts, Net 188924 up by huge 9170 contracts.
  • Initial support at 8100, with huge OI addition of 6.75 lacs and below that at 8000 with highest OI of 53.70 lacs.
  • Initial resistance at 8200, with OI of 33.19 lacs and above that at 8300 with OI of 31.70 lacs.
  • Day Range as per Option Table is 8105 - 8247 and as per VIX is 8110 - 8247 with 8176 as the Pivot.
India VIX : 15.98 up by 0.72 points
Call OI : 34325450
Put OI : 39986500
PCR OI : 1.165
SMR : 13.72 (Bullish : Base for the series done at 8000, though ceiling still not in sight, the PE writers in full command, remains a buy on dips...)

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