Open Interest built up is still higher at 7500CE and despite call option writing at 7500 nifty surges and closed with a weekly return of 4.88%. 7500CE and 7600CE are the highest open interest builtup on the call side on the put side 7000PE holds the highest open interest. Also the overall open interest figures shows that call/put writers are not confident at this moment.
Nifty August Option Series start with almost equal amount of Higher Open Interest at 5400PE and 5700CE which indicates that 5400 could be a possible support zone as put writers are defending 5400PE by building higher open interest at that strike price.
As of now 6000 CE holds the highest Open Interest for the Dec Series. And today witnessed considerable amount of call writing in 6000CE and 6100CE december call prices. As of 3rd December 5800PE holds the highest open interest built up but the thing has changed today.
Last past two days of action could stumbled call writers as there is unwinding in 4800CE,4900CE,5000CE open Interest and put writers
overtakes the position which is also reflected in the market sentiment
too. But once again Call writers had started their call writing job
High Open Interest Seen in 4900 CE and 5000 CE which indicates strong call writing. As of now call writiers are confident of the resistance level 4900. Related Posts: Open Interest Sentiment – 6,Feb2010