F&O Action: Futures and Options market cues for trading on February 18?

The Nifty 50 put call ratio (PCR) closed at 1.03 for the day.

Indian equity market continued to dance to the tune of news coming from Ukraine- Russia tension. It along with the weekly index expiry kept the market volatile. Even the volatility index spiked by 6.86 per cent to close at 22.00 in today’s trade. Broader market underperformed and closed with a loss of 1 per cent baring FMCG companies such as HUL and Oil & Gas companies such as RIL were the top gainer and led to their indices closing in green. Nifty bank being top laggard is down 1 per cent and shares of ICICI Banks and Axis Bank were the prime losers.  

Activity on the F&O front for weekly expiry on February 24 shows 18000 to act as a strong resistance now. Highest open interest contract of 78346 stood at this strike price. The second-highest call option open interest 71117 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 17500 in the last trading session. A total of 20063 open interest was added at this strike price.

 In terms of put activity, the highest put writing was seen at a strike price of 15100, where 29077 open interest was added today, followed by 17300 where (14497) open interest was added. Highest total put open interest (99650) stood at a strike price of 17000. This is followed by a strike price of 16500, which saw a total put option open interest of 79162 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.03 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 17400.

Top five call and put open interest with their strike price