NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 3/08/2026

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Open Interest Volume Analysis

The CAS Regime Effect: Welcome back, traders! If you’re looking at today’s closing data (August 3, 2026) and scratching your head over the massive future discounts—like Nifty’s 124-point dip or BankNifty’s extreme 386-point discount—don’t panic. Today marks the official launch of the NSE’s new Closing Auction Session (CAS) regime.Why the Parity is Broken: Because cash markets for F&O-eligible stocks now freeze continuous trading at 3:15 PM to discover the spot closing price via an auction pool, while derivatives continue trading until 3:40 PM, this 25-minute mismatch is creating wild, artificial spot-future spreads. The futures are simply pricing in late-market volatility that the frozen spot index can no longer reflect.

Why the Parity is Broken: Because cash markets for F&O-eligible stocks now freeze continuous trading at 3:15 PM to discover the spot closing price via an auction pool, while derivatives continue trading until 3:40 PM, this 25-minute mismatch is creating wild, artificial spot-future spreads. The futures are simply pricing in late-market volatility that the frozen spot index can no longer reflect.

Cutting Through the Noise: With surface-level premiums and discounts rendered temporarily deceptive, relying on deep Open Interest Volume Analysis is our absolute best edge right now to track where the smart money is actually flowing. Despite the optical discounts on your screens, the internal data is screaming aggressive “Short Covering” in benchmark indices and confident “Fresh Longs” in Midcaps. Let’s break down the hidden signals.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24774.3 (1.602%)

Combined = August + September + October

Combined Fut Open Interest Change: -4.53%

Combined Fut Volume Change: 39.18%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 10% Previous 8%

NIFTY AUGUST Future closed at: 24649.4 (0.805%)

Aug Fut Discount -124.9 (Decreased by -193.9 points)

Aug Fut Open Interest Change: -5.74%

Aug Fut Volume Change: 36.43%

Aug Fut Open Interest Analysis: Short Covering

NIFTY SEPTEMBER Future closed at: 24760 (0.784%)

Sep Fut Discount -14.3 (Decreased by -198.2 points)

Sep Fut Open Interest Change: 6.44%

Sep Fut Volume Change: 68.88%

Sep Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (04/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.572 (Increased from 1.494)

Put-Call Ratio (Volume): 1.004

Max Pain Level: 24550

Maximum CALL Open Interest: 24600

Maximum PUT Open Interest: 24200

Highest CALL Addition: 24800

Highest PUT Addition: 24600

NIFTY Monthly Expiry (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.115 (Decreased from 1.140)

Put-Call Ratio (Volume): 1.105

Max Pain Level: 24400

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24600

Highest PUT Addition: 24500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 58247.95 (1.717%)

Combined = August + September + October

Combined Fut Open Interest Change: -0.86%

Combined Fut Volume Change: 61.53%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 8% Previous 8%

BANKNIFTY AUGUST Future closed at: 57861.6 (0.760%)

Aug Fut Discount -386.35 (Decreased by -546.7 points)

Aug Fut Open Interest Change: -0.7%

Aug Fut Volume Change: 59.3%

Aug Fut Open Interest Analysis: Short Covering

BANKNIFTY SEPTEMBER Future closed at: 58251.4 (0.798%)

Sep Fut Discount 3.45 (Decreased by -522.1 points)

Sep Fut Open Interest Change: -4.72%

Sep Fut Volume Change: 90.11%

Sep Fut Open Interest Analysis: Short Covering

BANKNIFTY Monthly Expiry  (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.887 (Increased from 0.857)

Put-Call Ratio (Volume): 0.738

Max Pain Level: 57800

Maximum CALL Open Interest: 58000

Maximum PUT Open Interest: 58000

Highest CALL Addition: 59000

Highest PUT Addition: 58000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14898.15 (0.769%)

Combined = August + September + October

Combined Fut Open Interest Change: 2.72%

Combined Fut Volume Change: 30.39%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 3% Previous 3%

MIDCPNIFTY AUGUST Future closed at: 14860.15 (0.294%)

Aug Fut Discount-38 (Decreased by -70.15 points)

Aug Fut Open Interest Change: 2.29%

Aug Fut Volume Change: 31.20%

Aug Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY SEPTEMBER Future closed at: 14908.8 (0.360%)

Sep Fut Premium10.65 (Decreased by -60.3 points)

Sep Fut Open Interest Change: 17.80%

Sep Fut Volume Change: 34.58%

Sep Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.090 (Increased from 1.056)

Put-Call Ratio (Volume): 1.150

Max Pain Level: 14800

Maximum CALL Open Interest: 15500

Maximum PUT Open Interest: 13600

Highest CALL Addition: 14900

Highest PUT Addition: 14900

SENSEX Monthly Expiry (27/08/2026) Future

SENSEX Spot closed at: 78,639.03 (0.697%)

SENSEX Monthly Future closed at: 78,936.50 (0.687%)

Premium: 297.47 (Decreased by -5.69 points)

Open Interest Change: 7.13%

Volume Change: -2.38%

Open Interest Analysis: Fresh Long

SENSEX Weekly Expiry (06/08/2026) Option Analysis

Put-Call Ratio (OI): 1.307 (Increased from 1.197)

Put-Call Ratio (Volume): 0.902

Max Pain Level: 78500

Maximum CALL OI: 79000

Maximum PUT OI: 78000

Highest CALL Addition: 79000

Highest PUT Addition: 78500

FII & DII Cash Market Activity

FIIs Net BUY: ₹922.26 Cr.

DIIs Net BUY: ₹ 1,571.18 Cr.

FII Derivatives Activity

FII Trading Stats3.08.2631.07.2630.07.26
FII Cash (Provisional Data)922.26277.483,623.51
    
Index Future Open Interest Long Ratio13.02%11.12%10.38%
Index Future Volume Long Ratio79.96%81.22%63.99%
Call Option Open Interest Long Ratio44.43%41.53%41.40%
Call Option Volume Long Ratio50.46%49.92%49.78%
Put Option Open Interest Long Ratio64.03%66.66%69.07%
Put Option Volume Long Ratio49.85%50.11%49.51%
Stock Future Open Interest Long Ratio55.07%55.06%54.88%
Stock Future Volume Long Ratio49.94%51.70%49.63%
    
Index FuturesShort CoveringShort CoveringShort Covering
Index OptionsFresh LongFresh LongFresh Short
    
Nifty FuturesShort CoveringShort CoveringShort Covering
Nifty OptionsFresh LongFresh LongFresh Short
    
BankNifty FuturesFresh LongFresh LongFresh Short
BankNifty OptionsFresh LongFresh LongFresh Long
    
FinNifty FuturesLong CoveringFresh LongLong Covering
FinNifty OptionsFresh LongFresh LongFresh Short
    
MidcpNifty FuturesShort CoveringFresh ShortShort Covering
MidcpNifty OptionsFresh LongFresh ShortFresh Long
    
NiftyNxt50 FuturesFresh ShortFresh ShortLong Covering
NiftyNxt50 OptionsFresh LongFresh LongFresh Short
    
Stock FuturesFresh ShortFresh LongLong Covering
Stock OptionsFresh ShortFresh ShortFresh Short

SENSEX weekly Expiry (06/08/2026)

The SENSEX index closed at 78639.03. The SENSEX weekly expiry for AUGUST 6, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.307 against previous 1.197. The 79000CE option holds the maximum open interest, followed by the 80000CE and 78000PE options. Market participants have shown increased interest with significant open interest additions in the 78500PE option, with open interest additions also seen in the 79000CE and 78700PE options. On the other hand, open interest reductions were prominent in the 78000CE, 78100CE, and 78300CE options. Trading volume was highest in the 78700CE option, followed by the 79000CE and 78700PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:06-08-2026
Index SpotPCR OIPrev PCR OIPCR VOL
78639.031.3071.1970.902
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  1,12,57,000        89,31,660           23,25,340
PUT:  1,47,10,660    1,06,95,400           40,15,260
Top CALL Open Interest:
StrikeOIOI ChangeVolume
79000      10,41,680          4,66,940        1,74,69,280
80000        9,83,020          2,94,140           87,77,440
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
79000      10,41,680          4,66,940        1,74,69,280
78700        5,22,620          4,00,900        1,88,42,700
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
78000        3,20,380        -3,09,920           19,23,320
78100            67,060        -2,68,120           10,03,680
Top CALL Volume:
StrikeOIOI ChangeVolume
78700        5,22,620          4,00,900        1,88,42,700
79000      10,41,680          4,66,940        1,74,69,280
Top PUT Open Interest:
StrikeOIOI ChangeVolume
78000        8,98,680          1,45,840        1,01,48,380
77000        8,50,520          3,59,900           46,74,080
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
78500        7,62,060          6,40,460        1,28,00,260
78700        4,61,760          4,43,040        1,73,15,620
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
75700            69,840            -84,480              9,39,920
73500        2,19,260            -77,140           12,29,520
Top PUT Volume:
StrikeOIOI ChangeVolume
78700        4,61,760          4,43,040        1,73,15,620
78600        3,48,140          3,29,860        1,35,18,620

NIFTY Weekly Expiry (04/08/2026)

The NIFTY index closed at 24774.3. The NIFTY weekly expiry for AUGUST 4, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.572 against previous 1.494. The 24600CE option holds the maximum open interest, followed by the 24200PE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 24600PE option, with open interest additions also seen in the 24500PE and 24550PE options. On the other hand, open interest reductions were prominent in the 24400CE, 24500CE, and 23650PE options. Trading volume was highest in the 24600CE option, followed by the 24600PE and 24550PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:04-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,774.30                1.572                  1.494               1.004
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 13,18,29,425   13,03,05,207       15,24,218
 PUT: 20,72,85,845   19,46,88,097   1,25,97,748
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,600    1,50,62,970         30,28,187   1,13,72,067
               25,000    1,18,87,135            9,87,285       19,22,012
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,800    1,16,77,835         48,48,025       38,88,481
               24,600    1,50,62,970         30,28,187   1,13,72,067
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,400       20,95,015        -62,32,850       11,08,568
               24,500       47,50,330        -43,29,682       45,24,058
 Top CALL Volume:
 Strike OI OI Change Volume
               24,600    1,50,62,970         30,28,187   1,13,72,067
               24,550       50,88,915         18,89,355       66,44,570
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,200    1,46,74,985         28,60,195       18,51,528
               24,000    1,42,30,970          -4,55,195       16,00,851
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,600    1,15,61,550      1,08,19,510       76,55,713
               24,500    1,24,22,215      1,03,73,480       68,31,963
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,650       14,35,655        -39,83,135         5,79,416
               23,200       29,27,275        -32,76,065         3,74,210
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,600    1,15,61,550      1,08,19,510       76,55,713
               24,550       82,03,715         78,76,765       72,56,693

NIFTY Monthly Expiry (25/08/2026)

The NIFTY index closed at 24774.3. The NIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.115 against previous 1.140. The 24000PE option holds the maximum open interest, followed by the 24000CE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 24500PE option, with open interest additions also seen in the 24600PE and 24600CE options. On the other hand, open interest reductions were prominent in the 24300CE, 23500PE, and 23400PE options. Trading volume was highest in the 25000CE option, followed by the 24000PE and 24500PE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,774.30                1.115                  1.140               1.105
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    4,41,46,375      4,23,71,096       17,75,279
 PUT:    4,92,10,915      4,83,19,115         8,91,800
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       59,11,945          -1,66,627             16,166
               25,000       54,00,525              -34,125         1,25,637
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,600       15,38,160            5,58,057             60,860
               25,500       29,89,870            5,29,100             43,322
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,300       10,89,725          -4,94,780             21,485
               24,400       10,00,805          -2,34,130             18,901
 Top CALL Volume:
 Strike OI OI Change Volume
               25,000       54,00,525              -34,125         1,25,637
               24,500       46,92,870            3,02,672             78,543
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       82,77,620            1,05,852             93,048
               24,500       43,44,860         11,83,520             92,487
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,500       43,44,860         11,83,520             92,487
               24,600       13,93,470         11,21,835             63,134
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,500       27,10,500          -4,77,880             47,433
               23,400          4,30,495          -3,24,350             16,908
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000       82,77,620            1,05,852             93,048
               24,500       43,44,860         11,83,520             92,487

BANKNIFTY Monthly Expiry (25/08/2026)

The BANKNIFTY index closed at 58247.95. The BANKNIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.887 against previous 0.857. The 58000CE option holds the maximum open interest, followed by the 58000PE and 59000CE options. Market participants have shown increased interest with significant open interest additions in the 59000CE option, with open interest additions also seen in the 58000PE and 57800CE options. On the other hand, open interest reductions were prominent in the 57300CE, 60000CE, and 57500CE options. Trading volume was highest in the 58000CE option, followed by the 59000CE and 57500CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         58,247.95                0.887                  0.857               0.738
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,17,25,440      1,14,32,505         2,92,935
 PUT:    1,04,04,360         97,98,495         6,05,865
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               58,000       22,18,140               64,680         1,12,935
               59,000       13,28,700            3,41,490             92,062
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               59,000       13,28,700            3,41,490             92,062
               57,800          2,52,270            1,58,160             62,363
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               57,300          1,24,440          -1,26,570             14,207
               60,000       10,52,820          -1,15,800             62,609
 Top CALL Volume:
 Strike OI OI Change Volume
               58,000       22,18,140               64,680         1,12,935
               59,000       13,28,700            3,41,490             92,062
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               58,000       15,51,900            2,36,400             52,689
               57,000          9,34,350               30,330             40,434
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               58,000       15,51,900            2,36,400             52,689
               57,500          5,21,580            1,44,450             61,068
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               55,000          4,17,750              -66,720             31,262
               57,300             99,570              -46,410             13,060
 Top PUT Volume: 
 Strike OI OI Change Volume
               57,500          5,21,580            1,44,450             61,068
               58,000       15,51,900            2,36,400             52,689

MIDCPNIFTY Monthly Expiry (25/08/2026)

The MIDCPNIFTY index closed at 14898.15. The MIDCPNIFTY monthly expiry for AUGUST 25, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.090 against previous 1.056. The 15500CE option holds the maximum open interest, followed by the 13600PE and 15000CE options. Market participants have shown increased interest with significant open interest additions in the 14900CE option, with open interest additions also seen in the 14900PE and 14800PE options. On the other hand, open interest reductions were prominent in the 79300CE, 79300CE, and 79300PE options. Trading volume was highest in the 14600PE option, followed by the 15000CE and 14900CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,898.15                1.090                  1.056               1.150
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       36,92,160         34,62,480         2,29,680
 PUT:       40,23,480         36,54,840         3,68,640
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,500          7,75,080               21,360               6,177
               15,000          4,12,680              -55,680             13,092
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,900          2,48,160            1,72,680               7,968
               16,000          3,22,080               39,240               3,519
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               15,000          4,12,680              -55,680             13,092
               14,700          1,82,280              -52,200               1,525
 Top CALL Volume:
 Strike OI OI Change Volume
               15,000          4,12,680              -55,680             13,092
               14,900          2,48,160            1,72,680               7,968
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,600          4,57,200                -2,040                   555
               14,000          4,00,680                     120               5,296
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,900          1,96,800            1,70,760               7,027
               14,800          2,95,200               70,560               6,095
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               13,500          3,14,880              -34,800               2,297
               14,100             60,960              -33,240               1,296
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,600          2,85,000               52,560             13,154
               14,900          1,96,800            1,70,760               7,027

Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us

The Final Verdict: Wrapping up today’s Open Interest Volume Analysis, the broader market sentiment remains actively constructive. The heavy short covering in both Nifty (combined OI down 4.53% with a 39% volume spike) and BankNifty (combined OI down 0.86% alongside a 61% volume surge) suggests bears were forced to aggressively unwind their positions late in the session. Meanwhile, Midcap Nifty and Sensex futures are seeing confident fresh long build-ups.

Actionable Feedback & Key Levels: A “buy on dips” playbook remains optimal for the week. For Nifty traders, 24600 is acting as immediate resistance based on the highest call additions, but the 24200 Put base offers rock-solid support with Max Pain anchored at 24550. For BankNifty, keep a tight watch on the 58000 straddle zone—it’s acting as a heavy magnet for both Call and Put writers; any sustained breakout above the 58200 mark could trigger a massive gamma blast toward the 59000 level.

Trading the “New Normal”: Going forward, do not blindly carry unhedged overnight positions just because a future looks “cheap” at a discount. The new 3:15 PM to 3:40 PM CAS adjustment window is going to continuously skew spot-future spreads. Trust the OI shifts, respect your max pain levels, and size your positions conservatively while the market fully digests this structural shift!

Check Previous Day’s NSE & BSE Indices F&O Analysis

FII / FPI trading activity in Capital Market Segment

NSE Derivatives Raw Data

BSE Derivatives Raw Data

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