Turning Complex Derivative Data into Clear Market Insights
NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 19/08/2026
Table of Contents
Based on the derivatives data for August 19, 2026, the bears are aggressively building positions and dominating the tape. Our latest Open Interest Volume Analysis reveals a glaring market theme: “Fresh Shorts” are piling up rapidly in the September series across Nifty, BankNifty, and MidcapNifty, while near-month premiums are shrinking fast. Here is a quick breakdown of the immediate vibe:
Aggressive Bearish Rollovers: September futures for Nifty and BankNifty saw massive volume spikes (71.11% and 68.31% respectively) coupled with massive OI additions (27%+ for Nifty Sep). This signals highly convicted short bets being rolled over into the next month.
Crushed Premiums: Nifty’s August premium collapsed by nearly 36 points, and BankNifty dropped over 60 points. When premiums shrink aggressively alongside underlying price drops, the smart money is clearly pricing in further downside.
Fear Taking Over: With Nifty’s Put-Call Ratio (PCR) slipping to an oversold 0.702 and the Sensex PCR plummeting to an extreme 0.574, the data points to a market heavily skewed toward put writing fear and aggressive call writing at at-the-money strikes (like 24100 in Nifty).
NSE & BSE F&O Market Signals
NIFTY Future analysis
NIFTY Spot closed at: 24078.3 (-0.317%)
Combined = August + September + October
Combined Fut Open Interest Change: 3.53%
Combined Fut Volume Change: 27.07%
Combined Fut Open Interest Analysis: Fresh Short
Rollover: 21% Previous 17%
NIFTY AUGUST Future closed at: 24117.6 (-0.464%)
Aug Fut Premium 39.3 (Decreased by -35.9 points)
Aug Fut Open Interest Change: -0.84%
Aug Fut Volume Change: 14.02%
Aug Fut Open Interest Analysis: Long Covering
NIFTY SEPTEMBER Future closed at: 24238.8 (-0.497%)
Sep Fut Premium 160.5 (Decreased by -44.5 points)
Sep Fut Open Interest Change: 27.43%
Sep Fut Volume Change: 71.11%
Sep Fut Open Interest Analysis: Fresh Short
NIFTY Monthly Expiry (25/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.702 (Decreased from 0.815)
Put-Call Ratio (Volume): 0.927
Max Pain Level: 24200
Maximum CALL Open Interest: 24500
Maximum PUT Open Interest: 24000
Highest CALL Addition: 24100
Highest PUT Addition: 24100
BANKNIFTY Future Analysis
BANKNIFTY Spot closed at: 57239.75 (-0.040%)
Combined = August + September + October
Combined Fut Open Interest Change: 1.13%
Combined Fut Volume Change: 8.39%
Combined Fut Open Interest Analysis: Fresh Short
Rollover: 15% Previous 12%
BANKNIFTY AUGUST Future closed at: 57349.8 (-0.145%)
Aug Fut Premium 110.05 (Decreased by -60.75 points)
Aug Fut Open Interest Change: -1.7%
Aug Fut Volume Change: -4.1%
Aug Fut Open Interest Analysis: Long Covering
BANKNIFTY SEPTEMBER Future closed at: 57697.6 (-0.163%)
Sep Fut Premium 457.85 (Decreased by -71.35 points)
Sep Fut Open Interest Change: 22.05%
Sep Fut Volume Change: 68.31%
Sep Fut Open Interest Analysis: Fresh Short
BANKNIFTY Monthly Expiry (25/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.708 (Increased from 0.696)
Put-Call Ratio (Volume): 0.798
Max Pain Level: 57500
Maximum CALL Open Interest: 58000
Maximum PUT Open Interest: 57000
Highest CALL Addition: 57200
Highest PUT Addition: 57000
MIDCPNIFTY Future Analysis
MIDCPNIFTY Spot closed at: 14867.9 (0.183%)
Combined = August + September + October
Combined Fut Open Interest Change: 2.09%
Combined Fut Volume Change: 114.86%
Combined Fut Open Interest Analysis: Fresh Long
Rollover: 7% Previous 7%
MIDCPNIFTY AUGUST Future closed at: 14851.55 (-0.144%)
Aug Fut Discount -16.35 (Decreased by -48.55 points)
Aug Fut Open Interest Change: 1.81%
Aug Fut Volume Change: 118.67%
Aug Fut Open Interest Analysis: Fresh Short
MIDCPNIFTY SEPTEMBER Future closed at: 14918.3 (-0.142%)
Sep Fut Premium 50.4 (Decreased by -48.4 points)
Sep Fut Open Interest Change: 4.73%
Sep Fut Volume Change: 103.83%
Sep Fut Open Interest Analysis: Fresh Short
MIDCPNIFTY Monthly Expiry (25/08/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.899 (Increased from 0.874)
Put-Call Ratio (Volume): 0.973
Max Pain Level: 14900
Maximum CALL Open Interest: 15500
Maximum PUT Open Interest: 14500
Highest CALL Addition: 15000
Highest PUT Addition: 14800
SENSEX Monthly Expiry (27/08/2026) Future
SENSEX Spot closed at: 76,909.68 (-0.422%)
SENSEX Monthly Future closed at: 77,211.30 (-0.503%)
Premium: 301.62 (Decreased by -64.37 points)
Open Interest Change: 7.07%
Volume Change: 73.48%
Open Interest Analysis: Fresh Short
SENSEX Weekly Expiry (20/08/2026) Option Analysis
Put-Call Ratio (OI): 0.574 (Decreased from 0.632)
Put-Call Ratio (Volume): 1.051
Max Pain Level: 77000
Maximum CALL OI: 78000
Maximum PUT OI: 76000
Highest CALL Addition: 77000
Highest PUT Addition: 76900
FII & DII Cash Market Activity
FIIs Net BUY: ₹ 407.99 Cr.
DIIs Net BUY: ₹ 3,973.72 Cr.
FII Derivatives Activity
| FII Trading Stats | 19.08.26 | 18.08.26 | 17.08.26 |
| FII Cash (Provisional Data) | 407.99 | 1,651.53 | -2,535.10 |
| Index Future Open Interest Long Ratio | 9.58% | 10.40% | 10.90% |
| Index Future Volume Long Ratio | 26.66% | 27.47% | 35.29% |
| Call Option Open Interest Long Ratio | 38.94% | 39.82% | 42.07% |
| Call Option Volume Long Ratio | 48.85% | 49.24% | 50.30% |
| Put Option Open Interest Long Ratio | 69.31% | 73.84% | 66.34% |
| Put Option Volume Long Ratio | 49.35% | 50.18% | 50.03% |
| Stock Future Open Interest Long Ratio | 54.71% | 54.65% | 54.85% |
| Stock Future Volume Long Ratio | 50.73% | 47.93% | 50.49% |
| Index Futures | Fresh Short | Fresh Short | Fresh Short |
| Index Options | Fresh Short | Long Covering | Fresh Long |
| Nifty Futures | Fresh Short | Fresh Short | Fresh Short |
| Nifty Options | Fresh Short | Long Covering | Fresh Long |
| BankNifty Futures | Fresh Short | Fresh Short | Fresh Short |
| BankNifty Options | Fresh Short | Fresh Long | Fresh Short |
| FinNifty Futures | Fresh Short | Short Covering | Fresh Short |
| FinNifty Options | Fresh Long | Long Covering | Fresh Long |
| MidcpNifty Futures | Fresh Short | Fresh Short | Fresh Short |
| MidcpNifty Options | Fresh Long | Fresh Long | Short Covering |
| NiftyNxt50 Futures | Long Covering | Long Covering | Fresh Short |
| NiftyNxt50 Options | Fresh Long | Fresh Long | Fresh Long |
| Stock Futures | Fresh Long | Long Covering | Fresh Long |
| Stock Options | Long Covering | Long Covering | Fresh Short |
NSE & BSE Option market Trends : Options Insights
SENSEX weekly Expiry (20/08/2026)
The SENSEX index closed at 76909.68. The SENSEX weekly expiry for AUGUST 20, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.574 against previous 0.632. The 78000CE option holds the maximum open interest, followed by the 77500CE and 79000CE options. Market participants have shown increased interest with significant open interest additions in the 77000CE option, with open interest additions also seen in the 76900CE and 76900PE options. On the other hand, open interest reductions were prominent in the 77500PE, 77400PE, and 77300PE options. Trading volume was highest in the 77000PE option, followed by the 76900PE and 77000CE options, indicating active trading in these strikes.
| SENSEX | Weekly | Expiry: | 20-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 76909.68 | 0.574 | 0.632 | 1.051 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 4,86,60,060 | 2,63,88,700 | 2,22,71,360 |
| PUT: | 2,79,26,320 | 1,66,77,380 | 1,12,48,940 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 78000 | 30,16,600 | 10,35,220 | 4,45,36,140 |
| 77500 | 27,91,020 | 8,95,980 | 8,69,64,180 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 77000 | 25,21,200 | 23,82,760 | 11,90,61,180 |
| 76900 | 17,68,400 | 17,46,100 | 5,88,88,380 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 79800 | 3,02,620 | -2,62,400 | 35,53,860 |
| 82000 | 5,03,080 | -1,46,380 | 37,75,060 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 77000 | 25,21,200 | 23,82,760 | 11,90,61,180 |
| 77500 | 27,91,020 | 8,95,980 | 8,69,64,180 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 76000 | 19,14,960 | 6,84,280 | 4,55,94,260 |
| 76500 | 19,08,860 | 10,85,060 | 10,07,07,740 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 76900 | 18,89,480 | 16,06,240 | 11,95,71,400 |
| 76800 | 13,50,600 | 10,88,580 | 11,04,70,180 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 77500 | 3,98,720 | -4,78,080 | 1,18,72,360 |
| 77400 | 1,80,080 | -4,13,240 | 1,19,11,740 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 77000 | 16,51,680 | 7,56,940 | 13,38,31,100 |
| 76900 | 18,89,480 | 16,06,240 | 11,95,71,400 |
NIFTY Monthly Expiry (25/08/2026)
The NIFTY index closed at 24078.3. The NIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.702 against previous 0.815. The 24500CE option holds the maximum open interest, followed by the 25000CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 24100CE option, with open interest additions also seen in the 24200CE and 24300CE options. On the other hand, open interest reductions were prominent in the 24450CE, 24300PE, and 24500PE options. Trading volume was highest in the 24100PE option, followed by the 24000PE and 24100CE options, indicating active trading in these strikes.
| NIFTY | Monthly | Expiry: | 25-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 24,078.30 | 0.702 | 0.815 | 0.927 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 19,83,73,110 | 14,15,53,815 | 5,68,19,295 |
| PUT: | 13,93,34,520 | 11,53,96,255 | 2,39,38,265 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,500 | 1,48,64,265 | 27,80,310 | 9,51,238 |
| 25,000 | 1,45,95,100 | 7,17,730 | 7,91,116 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,100 | 98,64,725 | 79,32,210 | 24,62,931 |
| 24,200 | 1,10,84,840 | 41,58,960 | 17,43,779 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,450 | 25,37,535 | -12,45,270 | 4,35,554 |
| 26,000 | 78,78,260 | -1,57,430 | 1,68,865 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,100 | 98,64,725 | 79,32,210 | 24,62,931 |
| 24,200 | 1,10,84,840 | 41,58,960 | 17,43,779 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 1,36,69,110 | 22,58,425 | 25,09,725 |
| 23,000 | 1,01,00,740 | 12,63,990 | 3,45,854 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,100 | 68,43,460 | 31,92,150 | 29,95,866 |
| 24,000 | 1,36,69,110 | 22,58,425 | 25,09,725 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,300 | 48,12,535 | -8,02,035 | 3,33,857 |
| 24,500 | 50,41,855 | -4,93,220 | 62,793 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,100 | 68,43,460 | 31,92,150 | 29,95,866 |
| 24,000 | 1,36,69,110 | 22,58,425 | 25,09,725 |
BANKNIFTY Monthly Expiry (25/08/2026)
The BANKNIFTY index closed at 57239.75. The BANKNIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.708 against previous 0.696. The 58000CE option holds the maximum open interest, followed by the 60000CE and 59000CE options. Market participants have shown increased interest with significant open interest additions in the 57000PE option, with open interest additions also seen in the 57100PE and 57200CE options. On the other hand, open interest reductions were prominent in the 60000CE, 58000PE, and 59300CE options. Trading volume was highest in the 57000PE option, followed by the 57500CE and 57100PE options, indicating active trading in these strikes.
| BANKNIFTY | Monthly | Expiry: | 25-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 57,239.75 | 0.708 | 0.696 | 0.798 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 1,92,22,290 | 1,90,90,350 | 1,31,940 |
| PUT: | 1,36,08,120 | 1,32,81,300 | 3,26,820 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 24,56,100 | 1,06,800 | 1,75,707 |
| 60,000 | 20,63,280 | -2,01,420 | 74,186 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 57,200 | 3,26,880 | 1,57,470 | 1,86,647 |
| 57,000 | 7,75,470 | 1,28,490 | 1,66,929 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 60,000 | 20,63,280 | -2,01,420 | 74,186 |
| 59,300 | 1,04,190 | -1,25,250 | 15,041 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 57,500 | 11,10,630 | 92,430 | 2,08,418 |
| 57,200 | 3,26,880 | 1,57,470 | 1,86,647 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 57,000 | 11,54,220 | 1,62,690 | 2,37,172 |
| 58,000 | 10,38,660 | -1,43,130 | 28,921 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 57,000 | 11,54,220 | 1,62,690 | 2,37,172 |
| 57,100 | 3,13,860 | 1,62,120 | 1,94,771 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 10,38,660 | -1,43,130 | 28,921 |
| 51,200 | 13,200 | -56,520 | 4,732 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 57,000 | 11,54,220 | 1,62,690 | 2,37,172 |
| 57,100 | 3,13,860 | 1,62,120 | 1,94,771 |
MIDCPNIFTY Monthly Expiry (25/08/2026)
The MIDCPNIFTY index closed at 14867.9. The MIDCPNIFTY monthly expiry for AUGUST 25, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.899 against previous 0.874. The 15500CE option holds the maximum open interest, followed by the 15000CE and 14500PE options. Market participants have shown increased interest with significant open interest additions in the 15000CE option, with open interest additions also seen in the 14800PE and 14800CE options. On the other hand, open interest reductions were prominent in the 73000PE, 69900PE, and 69900CE options. Trading volume was highest in the 14900CE option, followed by the 15000CE and 14800PE options, indicating active trading in these strikes.
| MIDCPNIFTY | Monthly | Expiry: | 25-08-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 14,867.90 | 0.899 | 0.874 | 0.973 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 81,21,960 | 75,43,560 | 5,78,400 |
| PUT: | 73,00,560 | 65,90,280 | 7,10,280 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 15,500 | 14,46,120 | -27,240 | 7,630 |
| 15,000 | 14,15,640 | 1,95,000 | 24,254 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 15,000 | 14,15,640 | 1,95,000 | 24,254 |
| 14,800 | 3,93,720 | 1,70,040 | 18,080 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 16,000 | 3,56,760 | -40,920 | 3,555 |
| 15,200 | 4,63,200 | -30,960 | 9,352 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 14,900 | 6,57,960 | 33,720 | 24,871 |
| 15,000 | 14,15,640 | 1,95,000 | 24,254 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 14,500 | 8,34,240 | -240 | 10,192 |
| 15,000 | 7,24,440 | -41,160 | 7,580 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 14,800 | 5,68,440 | 1,85,760 | 23,626 |
| 14,200 | 3,94,560 | 87,360 | 3,258 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 15,000 | 7,24,440 | -41,160 | 7,580 |
| 14,300 | 1,98,000 | -11,520 | 5,687 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 14,800 | 5,68,440 | 1,85,760 | 23,626 |
| 14,900 | 6,15,720 | 21,240 | 19,491 |
Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us
Wrapping up this Open Interest Volume Analysis, the overarching setup remains “sell-on-rise,” but you need to tread carefully. Because PCR levels are getting historically crushed—especially on Sensex and Nifty—a violent dead-cat bounce is a very real threat if the bears get trapped. The key to navigating this monthly expiry is respecting the max pain levels, which will act as absolute magnets for the heavy call-writing blocks we saw today.
Nifty Action Plan: The 24000 Put base is your ultimate line in the sand, but with the highest call additions at 24100, expect fierce resistance on any intraday bounce. Actionable Feedback: Fade the rallies below 24200. However, keep your stops tight because we will see explosive SHORT COVERING ABOVE MONTHLY MAX PAIN (24200) if the bulls manage to reclaim that level.
BankNifty Strategy: The banking index is currently boxed in between a 57000 put base and a massive 58000 call wall, with max pain sitting dead center at 57500. Actionable Feedback: Non-directional option sellers can play this wide range, but directional buyers should avoid fresh trades until a decisive close above 57500 triggers a short-covering rally.
Midcap & Sensex Warning: MidcapNifty is showing a sneaky divergence—Spot closed slightly green, but August futures flipped into a sharp 16-point discount with fresh shorts. Meanwhile, Sensex is extremely oversold at a 0.574 PCR. Actionable Feedback: Do not initiate fresh shorts at the absolute lows here. The risk-reward strongly favors waiting for a bounce toward the 77000 Sensex max pain level before taking a new position.
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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