NIFTY And BANKNIFTY F&O Trends for 14 May 2025 – A Derivatives Deep Dive

On 14th May 2025, the derivatives market revealed critical insights into NIFTY and BANKNIFTY F&O Trends, highlighting a mixed bag of sentiment ahead of the Nifty weekly expiry. While NIFTY maintained its upward momentum, its futures premium shrank, and open interest plunged, indicating long unwinding. BANKNIFTY showed marginal weakness in both spot and futures alongside bearish signals from the option chain. On the flip side, MIDCPNIFTY showed strength with a long buildup and rising premium. As we break down the F&O data across major indices, it becomes clear that traders are repositioning themselves strategically amid volatility and key support/resistance re-alignments.

NSE & BSE F&O Trends

NIFTY MAY Future

NIFTY Spot closed at: 24,666.90 (0.36%)

NIFTY MAY Future closed at: 24,715.90 (0.31%)

Premium: 49 (Decreased by -12.85 points)

Open Interest Change: -5.0%

Volume Change: -46.3%

NIFTY Weekly Expiry (15/05/2025) Option Analysis

Put-Call Ratio (OI): 0.745 (Increased from 0.691)

Put-Call Ratio (Volume): 0.930

Max Pain Level: 24600

Maximum CALL OI: 25000

Maximum PUT OI: 24000

Highest CALL Addition: 25500

Highest PUT Addition: 24000

NIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 1.171 (Decreased from 1.187)

Put-Call Ratio (Volume): 0.963

Max Pain Level: 24500

Maximum CALL OI: 25000

Maximum PUT OI: 24000

Highest CALL Addition: 26200

Highest PUT Addition: 24000

BANKNIFTY MAY Future

BANKNIFTY Spot closed at: 54,801.30 (-0.25%)

BANKNIFTY MAY Future closed at: 54,910.00 (-0.32%)

Premium: 108.7 (Decreased by -39.45 points)

Open Interest Change: -0.4%

Volume Change: -22.5%

BANKNIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 0.819 (Increased from 0.811)

Put-Call Ratio (Volume): 0.964

Max Pain Level: 54900

Maximum CALL OI: 63000

Maximum PUT OI: 55000

Highest CALL Addition: 60000

Highest PUT Addition: 50000

FINNIFTY MAY Future

FINNIFTY Spot closed at: 26,145.55 (-0.23%)

FINNIFTY MAY Future closed at: 26,207.40 (-0.28%)

Premium:  61.85 (Decreased by -13.15 points)

Open Interest Change: -1.9%

Volume Change: -27.2%

FINNIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 0.698 (Increased from 0.682)

Put-Call Ratio (Volume): 0.759

Max Pain Level: 26200

Maximum CALL OI: 27000

Maximum PUT OI: 26000

Highest CALL Addition: 27000

Highest PUT Addition: 24000

MIDCPNIFTY MAY Future

MIDCPNIFTY Spot closed at: 12,656.40 (0.63%)

MIDCPNIFTY MAY Future closed at: 12,694.00 (0.79%)

Premium: 37.6 (Increased by 20.4 points)

Open Interest Change: 1.8%

Volume Change: 10.0%

MIDCPNIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 1.076 (Increased from 1.075)

Put-Call Ratio (Volume): 1.010

Max Pain Level: 12350

Maximum CALL OI: 13000

Maximum PUT OI: 12000

Highest CALL Addition: 13000

Highest PUT Addition: 12600

SENSEX Weekly Expiry (20.05.25) Future

SENSEX Spot closed at: 81,330.56 (0.22%)

SENSEX Weekly Future closed at: 81,375.90 (0.19%)

Premium: 45.34 (Decreased by -25.59 points)

Open Interest Change: -11.3%

Volume Change: -1.6%

SENSEX Weekly Expiry (20/05/2025) Option Analysis

Put-Call Ratio (OI): 0.455 (Increased from 0.449)

Put-Call Ratio (Volume): 0.766

Max Pain Level: 81300

Maximum CALL OI: 85000

Maximum PUT OI: 77000

Highest CALL Addition: 85000

Highest PUT Addition: 78500

fII & DII Cash Market Activity

FIIs Net Buy: ₹ 931.80 Cr
DIIs Net Sell: ₹ 316.31 Cr

FII Derivatives Activity

FII Trading Stats	14.05.25	13.05.25	12.05.25
FII Cash (Provisional Data)	931.8	-476.86	1,246.48
Index Future Open Interest Long Ratio	38.27%	37.54%	50.05%
Index Future Volume Long Ratio	52.16%	28.48%	55.36%
Call Option Open Interest Long Ratio	54.62%	54.10%	57.76%
Call Option Volume Long Ratio	50.07%	49.49%	50.20%
Put Option Open Interest Long Ratio	54.23%	54.87%	55.84%
Put Option Volume Long Ratio	49.88%	49.92%	49.95%
Stock Future Open Interest Long Ratio	65.28%	65.29%	66.08%
Stock Future Volume Long Ratio	50.00%	42.71%	56.27%
Index Futures	Fresh Long	Long Covering	Fresh Long
Index Options	Long Covering	Fresh Short	Fresh Long
Nifty Futures	Fresh Short	Long Covering	Fresh Long
Nifty Options	Short Covering	Fresh Short	Fresh Long
BankNifty Futures	Fresh Long	Long Covering	Short Covering
BankNifty Options	Fresh Short	Fresh Long	Fresh Short
FinNifty Futures	Fresh Short	Fresh Short	Fresh Short
FinNifty Options	Fresh Short	Fresh Short	Fresh Long
MidcpNifty Futures	Short Covering	Short Covering	Short Covering
MidcpNifty Options	Fresh Short	Fresh Short	Fresh Short
NiftyNxt50 Futures	Short Covering	Long Covering	Short Covering
NiftyNxt50 Options	Fresh Short	Fresh Long	Fresh Long
Stock Futures	Fresh Long	Long Covering	Fresh Long
Stock Options	Fresh Short	Fresh Short	Fresh Short

NSE F&O Trends | Options Insights

NIFTY Weekly Expiry (15.05.2025)

The NIFTY index closed at 24666.9. The NIFTY weekly expiry for May 15, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.745 against previous 0.691. The 25000CE option holds the maximum open interest, followed by the 25500CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 25500CE option, with open interest additions also seen in the 24000PE and 24500PE options. On the other hand, open interest reductions were prominent in the 26200CE, 26000CE, and 25700CE options. Trading volume was highest in the 24700CE option, followed by the 24600PE and 24500PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	15-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,666.90	0.745	0.691	0.930
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	19,25,93,025	19,61,75,325	-35,82,300
PUT:	14,35,67,550	13,54,97,400	80,70,150
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	1,46,81,025	20,80,650	42,62,636
25,500	1,44,70,200	28,57,875	16,60,511
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,500	1,44,70,200	28,57,875	16,60,511
25,000	1,46,81,025	20,80,650	42,62,636
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,200	70,51,275	-41,35,200	3,71,866
26,000	98,70,525	-33,68,325	9,50,553
Top CALL Volume:
Strike	OI	OI Change	Volume
24,700	77,81,325	13,83,675	71,15,973
24,800	78,42,075	6,96,450	48,75,863
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	1,22,79,075	27,54,375	19,37,713
23,500	80,62,575	-2,18,550	9,63,018
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	1,22,79,075	27,54,375	19,37,713
24,500	80,21,625	21,34,425	51,17,578
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
22,000	32,18,250	-27,34,050	1,35,160
23,000	55,69,875	-14,56,650	5,32,886
Top PUT Volume:
Strike	OI	OI Change	Volume
24,600	69,93,825	11,20,575	61,06,166
24,500	80,21,625	21,34,425	51,17,578

NIFTY Monthly Expiry (29.05.2025)

The NIFTY index closed at 24666.9. The NIFTY monthly expiry for MAY 29, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.171 against previous 1.187. The 24000PE option holds the maximum open interest, followed by the 25000CE and 23000PE options. Market participants have shown increased interest with significant open interest additions in the 26200CE option, with open interest additions also seen in the 24000PE and 24700PE options. On the other hand, open interest reductions were prominent in the 24800CE, 24800PE, and 24500CE options. Trading volume was highest in the 25000CE option, followed by the 24500PE and 24000PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,666.90	1.171	1.187	0.963
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,73,47,500	4,58,39,550	15,07,950
PUT:	5,54,24,625	5,44,00,275	10,24,350
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	53,97,975	38,175	1,16,635
24,500	36,74,325	-1,79,550	55,488
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,200	13,64,175	5,52,525	23,140
26,400	5,10,900	3,30,600	12,670
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,800	19,51,575	-3,04,800	66,997
24,500	36,74,325	-1,79,550	55,488
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	53,97,975	38,175	1,16,635
25,500	35,90,700	1,93,650	83,389
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	65,31,600	3,71,925	86,104
23,000	41,08,500	2,925	43,891
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	65,31,600	3,71,925	86,104
24,700	15,97,125	3,62,775	68,106
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,800	14,17,200	-2,61,825	52,752
24,500	32,74,725	-1,76,025	92,824
Top PUT Volume:
Strike	OI	OI Change	Volume
24,500	32,74,725	-1,76,025	92,824
24,000	65,31,600	3,71,925	86,104

BANKNIFTY Monthly Expiry (29.05.2025)

The BANKNIFTY index closed at 54801.3. The BANKNIFTY monthly expiry for MAY 29, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.819 against previous 0.811. The 63000CE option holds the maximum open interest, followed by the 55000PE and 60000CE options. Market participants have shown increased interest with significant open interest additions in the 50000PE option, with open interest additions also seen in the 60000CE and 47000PE options. On the other hand, open interest reductions were prominent in the 63000CE, 55000CE, and 54000CE options. Trading volume was highest in the 55000CE option, followed by the 55000PE and 56000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
54,801.30	0.819	0.811	0.964
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,49,28,440	2,40,71,670	8,56,770
PUT:	2,04,24,030	1,95,33,819	8,90,211
Top CALL Open Interest:
Strike	OI	OI Change	Volume
63,000	24,26,520	-2,77,320	58,864
60,000	17,52,060	1,73,910	83,260
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
60,000	17,52,060	1,73,910	83,260
61,000	7,65,090	1,63,650	36,788
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
63,000	24,26,520	-2,77,320	58,864
55,000	11,29,800	-1,42,590	2,99,299
Top CALL Volume:
Strike	OI	OI Change	Volume
55,000	11,29,800	-1,42,590	2,99,299
56,000	12,07,080	-66,750	1,48,427
Top PUT Open Interest:
Strike	OI	OI Change	Volume
55,000	17,56,530	-13,380	2,79,392
40,500	15,07,380	1,58,250	71,915
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
50,000	13,99,080	2,00,100	83,882
47,000	5,79,750	1,64,280	27,017
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
49,000	5,31,570	-1,18,140	42,329
55,500	6,62,190	-39,090	39,507
Top PUT Volume:
Strike	OI	OI Change	Volume
55,000	17,56,530	-13,380	2,79,392
54,000	10,79,430	-6,420	1,37,249

FINNIFTY Monthly Expiry (29.05.2025)

The FINNIFTY index closed at 26145.55. The FINNIFTY monthly expiry for MAY 29, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.698 against previous 0.682. The 27000CE option holds the maximum open interest, followed by the 29500CE and 26000PE options. Market participants have shown increased interest with significant open interest additions in the 24000PE option, with open interest additions also seen in the 24500PE and 27000CE options. On the other hand, open interest reductions were prominent in the 26000PE, 26400CE, and 26300PE options. Trading volume was highest in the 26300CE option, followed by the 27000CE and 26000PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,145.55	0.698	0.682	0.759
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	13,60,970	13,21,840	39,130
PUT:	9,49,780	9,01,095	48,685
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,000	1,92,465	16,640	5,402
29,500	1,74,850	5,460	1,200
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,000	1,92,465	16,640	5,402
28,000	49,140	8,125	1,000
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,400	35,230	-16,120	2,109
27,500	67,080	-11,245	2,942
Top CALL Volume:
Strike	OI	OI Change	Volume
26,300	59,670	-1,365	5,485
27,000	1,92,465	16,640	5,402
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	1,16,155	-17,745	4,658
25,500	65,715	15,535	1,866
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	55,315	33,605	1,683
24,500	33,020	16,900	1,102
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,000	1,16,155	-17,745	4,658
26,300	46,735	-11,245	2,917
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	1,16,155	-17,745	4,658
26,200	52,910	-4,095	3,284

MIDCPNIFTY Monthly Expiry (29.05.2025)

The MIDCPNIFTY index closed at 12656.4. The MIDCPNIFTY monthly expiry for MAY 29, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.076 against previous 1.075. The 12000PE option holds the maximum open interest, followed by the 13000CE and 11000PE options. Market participants have shown increased interest with significant open interest additions in the 13000CE option, with open interest additions also seen in the 12600PE and 13500CE options. On the other hand, open interest reductions were prominent in the 64000CE, 65200CE, and 63500PE options. Trading volume was highest in the 12600PE option, followed by the 12600CE and 13000CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,656.40	1.076	1.075	1.010
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	60,03,840	54,83,040	5,20,800
PUT:	64,60,200	58,92,360	5,67,840
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,000	6,45,480	1,38,600	15,867
13,500	5,38,560	95,040	5,401
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,000	6,45,480	1,38,600	15,867
13,500	5,38,560	95,040	5,401
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
12,575	24,000	-24,240	1,515
12,800	3,22,320	-10,080	7,164
Top CALL Volume:
Strike	OI	OI Change	Volume
12,600	2,48,280	29,520	16,443
13,000	6,45,480	1,38,600	15,867
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,000	7,54,320	82,560	10,779
11,000	5,61,120	-10,440	4,083
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,600	2,73,960	1,01,160	17,174
12,000	7,54,320	82,560	10,779
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,575	29,640	-19,920	1,871
11,850	26,640	-17,880	449
Top PUT Volume:
Strike	OI	OI Change	Volume
12,600	2,73,960	1,01,160	17,174
12,500	3,35,160	70,680	11,698

Conclusion: Tactical Play Needed as Indices Show Divergence

On 14th May 2025, the NIFTY and BANKNIFTY F&O Trends point toward cautious sentiment, with visible signs of unwinding in large-cap indices and fresh interest only in MIDCPNIFTY. Option chains suggest a tight expiry range for NIFTY between 24,000 and 25,000, while BANKNIFTY is grappling with a wider uncertainty zone. For traders, the key is to adopt neutral-to-mildly bearish strategies, especially short strangles or spreads near max pain zones. Staying agile will be critical as expiry volatility may bring sudden directional moves.

Check Last Week;s Trading on Day before Expiry (7/5/25).

FII / FPI trading activity in Capital Market Segment

Disclaimer

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