Turning Complex Derivative Data into Clear Market Insights
NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 17/08/2026
Table of Contents
We saw a fascinating tug-of-war today: while NIFTY and SENSEX felt the heavy heat of fresh selling pressure, BANKNIFTY surprised the street with solid resilience and signs of buying interest.
To figure out exactly where the smart money is moving for the rest of this expiry week, we have to look beneath the surface using detailed Open Interest Volume Analysis.
By tracking the rollover percentages, max pain levels, and premium shifts, our deep dive cuts through the intraday noise to give you a clear, actionable roadmap. Let’s jump right into what the data is really telling us!
NSE & BSE F&O Market Signals
NIFTY Future analysis
NIFTY Spot closed at: 24287.65 (-0.322%)
Combined = August + September + October
Combined Fut Open Interest Change: 1.48%
Combined Fut Volume Change: 35.73%
Combined Fut Open Interest Analysis: Fresh Short
Rollover: 16% Previous 15%
NIFTY AUGUST Future closed at: 24392.7 (-0.233%)
Aug Fut Premium 105.05 (Increased by 21.45 points)
Aug Fut Open Interest Change: 0.31%
Aug Fut Volume Change: 38.15%
Aug Fut Open Interest Analysis: Fresh Short
NIFTY SEPTEMBER Future closed at: 24533.5 (-0.218%)
Sep Fut Premium 245.85 (Increased by 24.85 points)
Sep Fut Open Interest Change: 8.44%
Sep Fut Volume Change: 18.67%
Sep Fut Open Interest Analysis: Fresh Short
NIFTY Weekly Expiry (18/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.916 (Increased from 0.884)
Put-Call Ratio (Volume): 1.003
Max Pain Level: 24350
Maximum CALL Open Interest: 24500
Maximum PUT Open Interest: 24300
Highest CALL Addition: 24350
Highest PUT Addition: 24250
NIFTY Monthly Expiry (25/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.988 (Decreased from 1.003)
Put-Call Ratio (Volume): 0.886
Max Pain Level: 24400
Maximum CALL Open Interest: 25000
Maximum PUT Open Interest: 24000
Highest CALL Addition: 25000
Highest PUT Addition: 23000
BANKNIFTY Future Analysis
BANKNIFTY Spot closed at: 57497.8 (0.012%)
Combined = August + September + October
Combined Fut Open Interest Change: -2.00%
Combined Fut Volume Change: 64.93%
Combined Fut Open Interest Analysis: Short Covering
Rollover: 11% Previous 10%
BANKNIFTY AUGUST Future closed at: 57835.8 (0.243%)
Aug Fut Premium 338 (Increased by 133.3 points)
Aug Fut Open Interest Change: -3.0%
Aug Fut Volume Change: 57.0%
Aug Fut Open Interest Analysis: Short Covering
BANKNIFTY SEPTEMBER Future closed at: 58178.4 (0.216%)
Sep Fut Premium6 80.6 (Increased by 118.7 points)
Sep Fut Open Interest Change: 6.86%
Sep Fut Volume Change: 128.34%
Sep Fut Open Interest Analysis: Fresh Long
BANKNIFTY Monthly Expiry (25/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.829 (Increased from 0.783)
Put-Call Ratio (Volume): 0.787
Max Pain Level: 57800
Maximum CALL Open Interest: 58000
Maximum PUT Open Interest: 58000
Highest CALL Addition: 59300
Highest PUT Addition: 58000
MIDCPNIFTY Future Analysis
MIDCPNIFTY Spot closed at: 14948.6 (-0.155%)
Combined = August + September + October
Combined Fut Open Interest Change: -1.87%
Combined Fut Volume Change: 43.73%
Combined Fut Open Interest Analysis: Long Covering
Rollover: 6% Previous 6%
MIDCPNIFTY AUGUST Future closed at: 15008.3 (-0.015%)
Aug Fut Premium 59.7 (Increased by 20.9 points)
Aug Fut Open Interest Change: -2.05%
Aug Fut Volume Change: 46.62%
Aug Fut Open Interest Analysis: Long Covering
MIDCPNIFTY SEPTEMBER Future closed at: 15076.45 (0.053%)
Sep Fut Premium 127.85 (Increased by 31.15 points)
Sep Fut Open Interest Change: 0.94%
Sep Fut Volume Change: 40.00%
Sep Fut Open Interest Analysis: Fresh Long
MIDCPNIFTY Monthly Expiry (25/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 1.023 (Increased from 1.002)
Put-Call Ratio (Volume): 0.766
Max Pain Level: 15000
Maximum CALL Open Interest: 15500
Maximum PUT Open Interest: 15000
Highest CALL Addition: 15500
Highest PUT Addition: 14500
SENSEX Monthly Expiry (27/08/2026) Future
SENSEX Spot closed at: 77,728.16 (-0.360%)
SENSEX Monthly Future closed at: 78,127.40 (-0.216%)
Premium: 399.24 (Increased by 111.94 points)
Open Interest Change: 2.76%
Volume Change: 54.52%
Open Interest Analysis: Fresh Short
SENSEX Weekly Expiry (20/08/2026) Option Analysis
Put-Call Ratio (OI): 0.903 (Decreased from 0.993)
Put-Call Ratio (Volume): 0.952
Max Pain Level: 77900
Maximum CALL OI: 79000
Maximum PUT OI: 75000
Highest CALL Addition: 79000
Highest PUT Addition: 77500
FII & DII Cash Market Activity
FIIs Net SELL: ₹ 2,535.10 Cr.
DIIs Net BUY: ₹ 5,101.46 Cr.
FII Derivatives Activity
| FII Trading Stats | 17.08.26 | 14.08.26 | 13.08.26 |
| FII Cash (Provisional Data) | -2,535.10 | 508.12 | -510.69 |
| Index Future Open Interest Long Ratio | 10.90% | 11.21% | 12.29% |
| Index Future Volume Long Ratio | 35.29% | 26.07% | 36.03% |
| Call Option Open Interest Long Ratio | 42.07% | 39.76% | 38.38% |
| Call Option Volume Long Ratio | 50.30% | 50.12% | 49.15% |
| Put Option Open Interest Long Ratio | 66.34% | 67.11% | 68.01% |
| Put Option Volume Long Ratio | 50.03% | 50.24% | 49.65% |
| Stock Future Open Interest Long Ratio | 54.85% | 54.84% | 54.89% |
| Stock Future Volume Long Ratio | 50.49% | 49.48% | 50.52% |
| Index Futures | Fresh Short | Fresh Short | Fresh Short |
| Index Options | Fresh Long | Fresh Long | Fresh Short |
| Nifty Futures | Fresh Short | Fresh Short | Fresh Short |
| Nifty Options | Fresh Long | Fresh Long | Fresh Short |
| BankNifty Futures | Fresh Short | Long Covering | Long Covering |
| BankNifty Options | Fresh Short | Fresh Short | Fresh Short |
| FinNifty Futures | Fresh Short | Fresh Short | Fresh Short |
| FinNifty Options | Fresh Long | Fresh Long | Fresh Short |
| MidcpNifty Futures | Fresh Short | Fresh Long | Fresh Long |
| MidcpNifty Options | Short Covering | Long Covering | Fresh Long |
| NiftyNxt50 Futures | Fresh Short | Fresh Long | Fresh Short |
| NiftyNxt50 Options | Fresh Long | Fresh Short | Fresh Long |
| Stock Futures | Fresh Long | Long Covering | Fresh Long |
| Stock Options | Fresh Short | Fresh Short | Fresh Short |
NSE & BSE Option market Trends : Options Insights
SENSEX weekly Expiry (20/08/2026)
The SENSEX index closed at 77728.16. The SENSEX weekly expiry for AUGUST 20, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.903 against previous 0.993. The 79000CE option holds the maximum open interest, followed by the 80000CE and 78000CE options. Market participants have shown increased interest with significant open interest additions in the 79000CE option, with open interest additions also seen in the 77500PE and 80000CE options. On the other hand, open interest reductions were prominent in the 81500CE, 77900PE, and 79600CE options. Trading volume was highest in the 78000CE option, followed by the 77800PE and 77700PE options, indicating active trading in these strikes.
| SENSEX | Weekly | Expiry: | 20-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 77728.16 | 0.903 | 0.993 | 0.952 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 1,30,93,640 | 88,34,300 | 42,59,340 |
| PUT: | 1,18,19,600 | 87,68,300 | 30,51,300 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 79000 | 12,15,400 | 7,11,780 | 1,24,04,620 |
| 80000 | 11,57,620 | 4,12,540 | 73,27,820 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 79000 | 12,15,400 | 7,11,780 | 1,24,04,620 |
| 80000 | 11,57,620 | 4,12,540 | 73,27,820 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 81500 | 2,46,100 | -1,60,800 | 27,26,840 |
| 79600 | 1,79,080 | -50,160 | 25,20,960 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 78000 | 9,30,120 | 2,33,860 | 2,13,50,060 |
| 77800 | 3,83,540 | 1,48,200 | 1,67,25,780 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 75000 | 8,50,220 | 85,780 | 36,49,500 |
| 78000 | 8,15,600 | 31,120 | 1,41,61,440 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 77500 | 7,66,380 | 4,16,500 | 1,90,18,020 |
| 74000 | 4,29,120 | 2,16,700 | 24,59,680 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 77900 | 2,65,680 | -72,960 | 1,21,15,620 |
| 78500 | 1,23,880 | -36,480 | 9,50,220 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 77800 | 6,34,780 | 1,17,100 | 1,96,05,160 |
| 77700 | 5,99,260 | 2,01,860 | 1,92,32,720 |
NIFTY Weekly Expiry (18/08/2026)
The NIFTY index closed at 24287.65. The NIFTY weekly expiry for AUGUST 18, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.916 against previous 0.884. The 24300PE option holds the maximum open interest, followed by the 24500CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 24250PE option, with open interest additions also seen in the 24300PE and 24200PE options. On the other hand, open interest reductions were prominent in the 25500CE, 25000CE, and 25800CE options. Trading volume was highest in the 24300PE option, followed by the 24300CE and 24400CE options, indicating active trading in these strikes.
| NIFTY | Weekly | Expiry: | 18-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 24,287.65 | 0.916 | 0.884 | 1.003 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 15,14,54,420 | 15,09,86,550 | 4,67,870 |
| PUT: | 13,87,12,665 | 13,35,20,465 | 51,92,200 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,500 | 1,25,21,795 | 12,59,505 | 47,12,193 |
| 24,400 | 1,04,62,465 | 23,57,680 | 72,94,726 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,350 | 71,16,460 | 30,95,690 | 66,97,010 |
| 24,300 | 62,35,840 | 30,22,110 | 81,81,092 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 25,500 | 55,49,180 | -29,02,510 | 5,16,249 |
| 25,000 | 87,17,670 | -28,62,990 | 14,58,954 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,300 | 62,35,840 | 30,22,110 | 81,81,092 |
| 24,400 | 1,04,62,465 | 23,57,680 | 72,94,726 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,300 | 1,34,90,490 | 32,85,555 | 1,04,82,795 |
| 24,000 | 1,13,66,550 | -40,690 | 27,27,692 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,250 | 82,58,835 | 43,51,490 | 68,71,751 |
| 24,300 | 1,34,90,490 | 32,85,555 | 1,04,82,795 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,400 | 48,01,095 | -24,67,595 | 42,60,832 |
| 23,000 | 37,64,475 | -18,14,085 | 2,96,127 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,300 | 1,34,90,490 | 32,85,555 | 1,04,82,795 |
| 24,250 | 82,58,835 | 43,51,490 | 68,71,751 |
NIFTY Monthly Expiry (25/08/2026)
The NIFTY index closed at 24287.65. The NIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.988 against previous 1.003. The 25000CE option holds the maximum open interest, followed by the 24000PE and 24500CE options. Market participants have shown increased interest with significant open interest additions in the 23000PE option, with open interest additions also seen in the 25000CE and 23700PE options. On the other hand, open interest reductions were prominent in the 24500PE, 25050CE, and 24600PE options. Trading volume was highest in the 24300PE option, followed by the 24500CE and 24300CE options, indicating active trading in these strikes.
| NIFTY | Monthly | Expiry: | 25-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 24,287.65 | 0.988 | 1.003 | 0.886 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 9,26,76,805 | 7,48,85,980 | 1,77,90,825 |
| PUT: | 9,16,04,630 | 7,51,10,295 | 1,64,94,335 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 25,000 | 1,05,92,010 | 17,70,600 | 2,73,401 |
| 24,500 | 90,02,890 | 9,92,680 | 3,11,799 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 25,000 | 1,05,92,010 | 17,70,600 | 2,73,401 |
| 24,600 | 45,69,240 | 15,41,215 | 2,17,063 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 25,050 | 6,38,430 | -2,60,325 | 46,310 |
| 25,150 | 3,72,580 | -1,19,925 | 40,232 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,500 | 90,02,890 | 9,92,680 | 3,11,799 |
| 24,300 | 31,52,565 | 14,34,355 | 2,94,554 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 1,02,97,235 | 6,43,045 | 2,62,229 |
| 23,000 | 67,22,365 | 27,25,255 | 1,20,903 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 23,000 | 67,22,365 | 27,25,255 | 1,20,903 |
| 23,700 | 42,64,130 | 15,70,790 | 1,95,596 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,500 | 57,19,545 | -4,49,995 | 1,28,804 |
| 24,600 | 13,43,875 | -1,44,430 | 25,668 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,300 | 38,56,450 | 9,27,290 | 3,29,235 |
| 24,000 | 1,02,97,235 | 6,43,045 | 2,62,229 |
BANKNIFTY Monthly Expiry (25/08/2026)
The BANKNIFTY index closed at 57497.8. The BANKNIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.829 against previous 0.783. The 58000CE option holds the maximum open interest, followed by the 60000CE and 58000PE options. Market participants have shown increased interest with significant open interest additions in the 58000PE option, with open interest additions also seen in the 55700PE and 57500PE options. On the other hand, open interest reductions were prominent in the 59800CE, 55100PE, and 57500CE options. Trading volume was highest in the 57500CE option, followed by the 58000CE and 57500PE options, indicating active trading in these strikes.
| BANKNIFTY | Monthly | Expiry: | 25-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 57,497.80 | 0.829 | 0.783 | 0.787 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 1,67,20,590 | 1,65,14,340 | 2,06,250 |
| PUT: | 1,38,63,870 | 1,29,36,600 | 9,27,270 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 21,30,780 | -32,370 | 1,90,422 |
| 60,000 | 17,46,000 | 22,710 | 96,744 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 59,300 | 1,93,170 | 98,460 | 22,153 |
| 58,500 | 10,99,860 | 89,460 | 1,14,108 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 59,800 | 73,800 | -1,05,420 | 17,015 |
| 57,500 | 7,15,410 | -50,100 | 1,91,211 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 57,500 | 7,15,410 | -50,100 | 1,91,211 |
| 58,000 | 21,30,780 | -32,370 | 1,90,422 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 13,97,370 | 1,64,160 | 82,269 |
| 57,000 | 10,44,660 | 94,560 | 1,23,970 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 13,97,370 | 1,64,160 | 82,269 |
| 55,700 | 1,69,200 | 1,09,860 | 17,662 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 55,100 | 33,030 | -51,810 | 7,792 |
| 53,000 | 3,74,700 | -31,110 | 7,427 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 57,500 | 7,22,850 | 1,01,130 | 1,61,477 |
| 57,000 | 10,44,660 | 94,560 | 1,23,970 |
MIDCPNIFTY Monthly Expiry (25/08/2026)
The MIDCPNIFTY index closed at 14948.6. The MIDCPNIFTY monthly expiry for AUGUST 25, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.023 against previous 1.002. The 15500CE option holds the maximum open interest, followed by the 15000CE and 15000PE options. Market participants have shown increased interest with significant open interest additions in the 15500CE option, with open interest additions also seen in the 15100CE and 14500PE options. On the other hand, open interest reductions were prominent in the 74700CE, 83500PE, and 83500CE options. Trading volume was highest in the 15000CE option, followed by the 15000PE and 14900PE options, indicating active trading in these strikes.
| MIDCPNIFTY | Monthly | Expiry: | 25-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 14,948.60 | 1.023 | 1.002 | 0.766 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 66,56,880 | 67,00,800 | -43,920 |
| PUT: | 68,06,880 | 67,14,000 | 92,880 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 15,500 | 15,32,880 | 69,120 | 10,428 |
| 15,000 | 10,75,440 | -4,200 | 19,942 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 15,500 | 15,32,880 | 69,120 | 10,428 |
| 15,100 | 4,37,160 | 57,480 | 8,704 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 15,400 | 2,94,120 | -1,19,760 | 8,680 |
| 16,000 | 5,14,080 | -42,480 | 7,487 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 15,000 | 10,75,440 | -4,200 | 19,942 |
| 15,500 | 15,32,880 | 69,120 | 10,428 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 15,000 | 9,57,360 | 34,800 | 15,655 |
| 14,500 | 9,16,320 | 45,480 | 6,918 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 14,500 | 9,16,320 | 45,480 | 6,918 |
| 14,950 | 1,37,880 | 36,840 | 4,313 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 14,700 | 3,11,640 | -57,240 | 4,767 |
| 14,200 | 2,58,480 | -28,080 | 2,336 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 15,000 | 9,57,360 | 34,800 | 15,655 |
| 14,900 | 5,97,960 | 2,880 | 11,680 |
Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us
To wrap things up, our final Open Interest Volume Analysis points to a stark sectoral divergence: the broader market (NIFTY and SENSEX) is currently weighed down by fresh short formations, while BANKNIFTY is visibly outperforming thanks to aggressive short covering and fresh long additions in the September series.
The NIFTY Strategy: With maximum Call writing aggressively placed at 24500 (weekly) and 25000 (monthly), the upside looks capped for now, meaning intraday rallies might get sold into. However, watch the critical 24400 level like a hawk; sustenance above monthly max pain should attract short-covering and trigger a fast upside squeeze.
The BANKNIFTY Strategy: The data here is structurally bullish. Since we are seeing a drop in combined OI alongside a massive 64% volume spike, trapped bears are clearly exiting. With maximum Put writing providing strong support at 58000, any brief intraday dip toward the 57800 max pain zone offers a high-reward entry for long setups.
The MIDCPNIFTY Strategy: Exercise caution and tighten those stop-losses. The data indicates long covering (profit booking) in the August expiry. Let the index prove it can hold its 15000 max pain baseline before deploying new capital.
Final Word: The market is highly stock and sector-specific right now. Trade the divergence, respect the max pain levels, and let the options data dictate your bias tomorrow. Stay disciplined and trade safe!
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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