Market watch: What does the F&O market suggest about trade on February 23?

The Nifty 50 put call ratio (PCR) closed at 0.83 for the day.

Indian equity market ended in red for the fifth consecutive day in a row due to geopolitical risk and rise in crude oil prices, which is at a striking distance of USD 100 per barrel. Nifty 50 closed down 0.67 per cent or 114.4 points at 17092. TCS, Tata Steel and SBI remained the prime dragger of the index while HDFC, Kotak Mahindra Bank and Bajaj Finserve supported the market. Nifty VIX spiked by 16.42 per cent in today’s trade and closed at 26.66, the highest level in the last eleven months.  

Activity on the F&O front for weekly expiry on February 24 shows the highest open interest contract of 158956 stood at a strike price of 18,000. The second-highest call option open interest 145939 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 17700 in the last trading session. A total of 67622 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16000, where 37214 open interest was added today, followed by 16500 where (36240) open interest was added. Highest total put open interest (138078) stood at a strike price of 17000. This is followed by a strike price of 16000, which saw a total put option open interest of 129442 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.83 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Max pain at the end of today's trade for weekly expiry on February 24 stands at 17100.

Top five call and put open interest with their strike price