Wednesday, August 17, 2016

Option Open Interest for 17-08-2016

Inference
The index opened flat and stayed in a narrow range for the better part of the day but saw huge profit booking to close the day in red at 8624.05, loss of 18.50 points. The broader market though was positive with 883 advances to 703 declines. Range has narrowed down to 8500-8800.
  • Call option 8600-8800 added 17.79 lacs OI with profit booking at 8900 and above strike prices.
  • Put option 8700, 8300 added 4.59 lacs OI with short covering at 8800 and above strike prices.
  • Nifty Open Interest is at 2,45,81,025 down by 2,56,575, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 20,44,360 up by 1,41,920, with increase in price, most probably long build-up.
  • FII’s sold 2141 contracts of Index Futures, which includes net 1640 contracts long build-up and 3781 contracts short build-up, with increase in net OI by 5421 contracts, includes 26354 longs to 28495 shorts for the day.
  • FII’s Index future open contract as on date is 298261 Longs to 48577 Shorts, Net long 249684 contracts.
  • Initial support still at 8600, with OI of 44.57 lacs and below that at 8500 with OI of 54.25 lacs.
  • Initial resistance at 8700, with OI of 59.69 lacs and above that at 8800 with OI of 66.09 lacs.
  • Day Range as per Option Table is 8568 - 8690 and as per VIX is 8557 - 8691 with 8632 as the Pivot.
India VIX : 14.78 up by 0.60 points
Call OI : 42365550
Put OI : 38816100
PCR OI : 0.9162
SMR : 16.13 (Neutral : Based on OI, 8800 seems like a ceiling for the series, downside support still good around 8600-8500, and option writers having a great time...)