Unmasking June’s F&O Market Trends: Is the Relief Rally Sustainable?

The F&O market trends on 5th June 2025 delivered a mixed bag: Nifty futures surged 0.53% to 24,861.40, reclaiming the 24,800 mark, but a declining open interest (-1.4%) and tepid premium growth (+1.3 points) hinted at skepticism. BankNifty futures lagged, rising just 0.10% to 56,044.40 amid heavy call writing at 57,000, while MIDCPNIFTY’s 0.82% rally masked a sharp premium drop (-23.75 points). Nifty’s weekly PCR (OI) rebounded to 0.793, with max pain at 24,750 and aggressive put additions at 24,700, signaling strong downside protection. With FIIs net short in index futures and global volatility brewing, let’s dissect whether these F&O market trends signal a durable rebound or a bull trap.

NSE & BSE F&O Market Trends

NIFTY JUNE Future

NIFTY Spot closed at: 24,750.90 (0.53%)

NIFTY JUNE Future closed at: 24,861.40 (0.53%)

Premium: 110.5 (Increased by 1.3 points)

Open Interest Change: -1.4%

Volume Change: 108.9%

NIFTY Weekly Expiry (12/06/2025) Option Analysis

Put-Call Ratio (OI): 0.793 (Increased from 0.669)

Put-Call Ratio (Volume): 0.843

Max Pain Level: 24750

Maximum CALL OI: 26000

Maximum PUT OI: 23500

Highest CALL Addition: 26000

Highest PUT Addition: 24700

NIFTY Monthly Expiry (26/06/2025) Option Analysis

Put-Call Ratio (OI): 1.102 (Increased from 1.061)

Put-Call Ratio (Volume): 1.053

Max Pain Level: 24800

Maximum CALL OI: 26000

Maximum PUT OI: 24000

Highest CALL Addition: 29000

Highest PUT Addition: 23500

BANKNIFTY JUNE Future

BANKNIFTY Spot closed at: 55,760.85 (0.15%)

BANKNIFTY JUNE Future closed at: 56,044.40 (0.10%)

Premium: 283.55 (Decreased by -29 points)

Open Interest Change: -0.6%

Volume Change: 25.8%

BANKNIFTY Monthly Expiry (26/06/2025) Option Analysis

Put-Call Ratio (OI): 0.791 (Increased from 0.780)

Put-Call Ratio (Volume): 0.804

Max Pain Level: 55700

Maximum CALL OI: 56000

Maximum PUT OI: 56000

Highest CALL Addition: 57000

Highest PUT Addition: 55800

FINNIFTY JUNE Future

FINNIFTY Spot closed at: 26,387.15 (0.47%)

FINNIFTY JUNE Future closed at: 26,525.30 (0.37%)

Premium:  138.15 (Decreased by -25.2 points)

Open Interest Change: -2.6%

Volume Change: -11.1%

FINNIFTY Monthly Expiry (26/06/2025) Option Analysis

Put-Call Ratio (OI): 0.742 (Increased from 0.569)

Put-Call Ratio (Volume): 0.782

Max Pain Level: 26400

Maximum CALL OI: 29500

Maximum PUT OI: 25500

Highest CALL Addition: 26800

Highest PUT Addition: 26300

MIDCPNIFTY JUNE Future

MIDCPNIFTY Spot closed at: 12,951.70 (1.01%)

MIDCPNIFTY JUNE Future closed at: 12,972.70 (0.82%)

Premium: 21 (Decreased by -23.75 points)

Open Interest Change: -0.4%

Volume Change: -6.5%

MIDCPNIFTY Monthly Expiry (26/06/2025) Option Analysis

Put-Call Ratio (OI): 1.111 (Decreased from 1.157)

Put-Call Ratio (Volume): 1.024

Max Pain Level: 12800

Maximum CALL OI: 14000

Maximum PUT OI: 12500

Highest CALL Addition: 12500

Highest PUT Addition: 12900

SENSEX Weekly Expiry (10/06/2025) Future

SENSEX Spot closed at: 81,442.04 (0.55%)

SENSEX Weekly Future closed at: 81,513.15 (0.52%)

Premium: 71.11 (Decreased by -23.19 points)

Open Interest Change: -28.3%

Volume Change: -1.6%

SENSEX Weekly Expiry (10/06/2025) Option Analysis

Put-Call Ratio (OI): 0.770 (Increased from 0.546)

Put-Call Ratio (Volume): 0.799

Max Pain Level: 81000

Maximum CALL OI: 85000

Maximum PUT OI: 78000

Highest CALL Addition: 85000

Highest PUT Addition: 78000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 208.47 Cr
DIIs Net Buy: ₹ 2,382.40 Cr

FII Derivatives Activity

FII Trading Stats	5.06.25	4.06.25	3.06.25
FII Cash (Provisional Data)	-208.47	1,076.18	-2,853.83
Index Future Open Interest Long Ratio	16.48%	17.17%	16.67%
Index Future Volume Long Ratio	44.92%	50.43%	36.67%
Call Option Open Interest Long Ratio	58.15%	54.95%	56.27%
Call Option Volume Long Ratio	50.12%	49.72%	49.43%
Put Option Open Interest Long Ratio	60.19%	56.21%	59.43%
Put Option Volume Long Ratio	50.07%	49.33%	49.53%
Stock Future Open Interest Long Ratio	63.41%	63.57%	63.69%
Stock Future Volume Long Ratio	49.43%	49.20%	46.42%
Index Futures	Fresh Short	Fresh Long	Fresh Short
Index Options	Short Covering	Long Covering	Fresh Short
Nifty Futures	Fresh Short	Fresh Long	Fresh Short
Nifty Options	Short Covering	Long Covering	Fresh Short
BankNifty Futures	Short Covering	Fresh Short	Fresh Short
BankNifty Options	Long Covering	Fresh Long	Fresh Long
FinNifty Futures	Fresh Short	Long Covering	Fresh Long
FinNifty Options	Fresh Long	Fresh Long	Fresh Short
MidcpNifty Futures	Fresh Long	Fresh Short	Long Covering
MidcpNifty Options	Long Covering	Fresh Short	Fresh Short
NiftyNxt50 Futures	Long Covering	Fresh Long	Long Covering
NiftyNxt50 Options	Fresh Long	Fresh Short	Fresh Long
Stock Futures	Fresh Short	Fresh Short	Long Covering
Stock Options	Fresh Short	Fresh Short	Fresh Short

NSE & BSE F&O Market Trends: Options Insights

NIFTY Weekly Expiry (12/06/2025)

The NIFTY index closed at 24750.9. The NIFTY weekly expiry for JUNE 12, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.793 against previous 0.669. The 26000CE option holds the maximum open interest, followed by the 23500PE and 26800CE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 26800CE and 24700PE options. On the other hand, open interest reductions were prominent in the 24600CE, 24650CE, and 23450PE options. Trading volume was highest in the 25000CE option, followed by the 24800CE and 24700PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	12-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,750.90	0.793	0.669	0.843
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	8,09,63,925	4,28,82,525	3,80,81,400
PUT:	6,41,64,225	2,86,95,900	3,54,68,325
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	84,81,525	49,32,225	2,84,649
26,800	49,56,450	35,20,350	1,91,198
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	84,81,525	49,32,225	2,84,649
26,800	49,56,450	35,20,350	1,91,198
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,600	12,36,600	-3,21,750	1,27,440
24,650	3,94,050	-86,250	71,443
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	47,52,300	20,63,925	4,95,385
24,800	39,26,850	24,74,400	4,78,862
Top PUT Open Interest:
Strike	OI	OI Change	Volume
23,500	50,46,525	22,38,825	1,86,974
23,000	38,09,625	12,40,950	1,62,446
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,700	35,88,600	27,78,225	4,06,604
24,800	29,03,475	24,53,625	3,81,824
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,450	2,10,900	-37,275	19,951
22,750	47,250	-3,000	3,315
Top PUT Volume:
Strike	OI	OI Change	Volume
24,700	35,88,600	27,78,225	4,06,604
24,800	29,03,475	24,53,625	3,81,824

SENSEX Weekly Expiry (10/06/2025)

The SENSEX index closed at 81442.04. The SENSEX weekly expiry for JUNE 10, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.770 against previous 0.546. The 85000CE option holds the maximum open interest, followed by the 84000CE and 78000PE options. Market participants have shown increased interest with significant open interest additions in the 85000CE option, with open interest additions also seen in the 78000PE and 81500PE options. On the other hand, open interest reductions were prominent in the 81000CE, 80900CE, and 80800CE options. Trading volume was highest in the 81500CE option, followed by the 81000PE and 81400CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	10-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81442.04	0.770	0.546	0.799
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,14,76,180	79,34,880	35,41,300
PUT:	88,42,080	43,28,589	45,13,491
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85000	12,70,020	5,21,020	67,11,120
84000	7,97,340	1,73,400	63,98,780
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
85000	12,70,020	5,21,020	67,11,120
84500	5,61,560	2,57,040	40,87,960
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
81000	3,93,400	-2,36,460	41,80,620
80900	38,100	-71,060	7,19,920
Top CALL Volume:
Strike	OI	OI Change	Volume
81500	4,07,360	2,38,740	91,35,460
81400	1,65,340	1,18,480	68,52,600
Top PUT Open Interest:
Strike	OI	OI Change	Volume
78000	6,13,340	3,28,960	41,57,760
81000	5,52,280	-17,860	83,30,160
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
78000	6,13,340	3,28,960	41,57,760
81500	3,50,520	3,06,940	62,65,620
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
81000	5,52,280	-17,860	83,30,160
80800	1,31,020	-16,140	25,80,980
Top PUT Volume:
Strike	OI	OI Change	Volume
81000	5,52,280	-17,860	83,30,160
81500	3,50,520	3,06,940	62,65,620

NIFTY Monthly Expiry (26/06/2025)

The NIFTY index closed at 24750.9. The NIFTY monthly expiry for JUNE 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.102 against previous 1.061. The 26000CE option holds the maximum open interest, followed by the 24000PE and 24500PE options. Market participants have shown increased interest with significant open interest additions in the 23500PE option, with open interest additions also seen in the 24800PE and 24000PE options. On the other hand, open interest reductions were prominent in the 25000CE, 24900PE, and 24900CE options. Trading volume was highest in the 25000CE option, followed by the 26000CE and 24500PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,750.90	1.102	1.061	1.053
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,58,03,775	4,73,09,375	-15,05,600
PUT:	5,04,80,050	5,02,02,575	2,77,475
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	56,27,450	82,775	76,607
25,000	44,40,975	-7,66,450	1,08,538
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
29,000	5,97,800	1,20,225	5,167
26,000	56,27,450	82,775	76,607
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	44,40,975	-7,66,450	1,08,538
24,900	13,04,025	-1,90,950	35,027
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	44,40,975	-7,66,450	1,08,538
26,000	56,27,450	82,775	76,607
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	55,67,900	1,25,700	72,941
24,500	44,96,025	-87,450	74,813
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,500	26,61,075	1,89,000	44,900
24,800	15,60,825	1,69,500	56,106
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,900	11,54,400	-2,09,700	29,762
25,000	29,54,000	-1,75,350	68,628
Top PUT Volume:
Strike	OI	OI Change	Volume
24,500	44,96,025	-87,450	74,813
24,000	55,67,900	1,25,700	72,941

BANKNIFTY Monthly Expiry (26/06/2025)

The BANKNIFTY index closed at 55760.85. The BANKNIFTY monthly expiry for JUNE 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.791 against previous 0.780. The 56000CE option holds the maximum open interest, followed by the 56000PE and 63000CE options. Market participants have shown increased interest with significant open interest additions in the 57000CE option, with open interest additions also seen in the 61000CE and 59500CE options. On the other hand, open interest reductions were prominent in the 63000CE, 62500CE, and 40500PE options. Trading volume was highest in the 56000CE option, followed by the 56000PE and 55800CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
55,760.85	0.791	0.780	0.804
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,76,21,580	1,75,33,599	87,981
PUT:	1,39,47,090	1,36,84,140	2,62,950
Top CALL Open Interest:
Strike	OI	OI Change	Volume
56,000	22,78,350	41,070	1,56,189
63,000	14,75,640	-3,05,790	39,376
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
57,000	11,19,120	96,540	75,053
61,000	7,62,480	93,990	32,392
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
63,000	14,75,640	-3,05,790	39,376
62,500	3,36,150	-88,020	14,162
Top CALL Volume:
Strike	OI	OI Change	Volume
56,000	22,78,350	41,070	1,56,189
55,800	3,06,930	30,690	89,418
Top PUT Open Interest:
Strike	OI	OI Change	Volume
56,000	16,86,060	-990	1,02,748
55,000	11,35,650	29,790	66,287
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
55,800	2,63,220	63,120	79,323
55,700	2,22,240	43,770	78,345
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
40,500	2,68,860	-65,100	57,379
48,500	82,650	-50,460	6,266
Top PUT Volume:
Strike	OI	OI Change	Volume
56,000	16,86,060	-990	1,02,748
55,800	2,63,220	63,120	79,323

FINNIFTY Monthly Expiry (26/06/2025)

The FINNIFTY index closed at 26387.15. The FINNIFTY monthly expiry for JUNE 26, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.742 against previous 0.569. The 29500CE option holds the maximum open interest, followed by the 26500CE and 25500PE options. Market participants have shown increased interest with significant open interest additions in the 26300PE option, with open interest additions also seen in the 25500PE and 26350PE options. On the other hand, open interest reductions were prominent in the 27000CE, 26500CE, and 26250CE options. Trading volume was highest in the 26500CE option, followed by the 26300PE and 26350PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,387.15	0.742	0.569	0.782
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	7,21,630	7,41,780	-20,150
PUT:	5,35,665	4,22,305	1,13,360
Top CALL Open Interest:
Strike	OI	OI Change	Volume
29,500	79,690	1,755	758
26,500	78,455	-15,925	3,686
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,800	29,835	18,005	1,207
28,000	32,305	12,155	440
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,000	64,415	-25,545	1,756
26,500	78,455	-15,925	3,686
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	78,455	-15,925	3,686
27,000	64,415	-25,545	1,756
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,500	70,590	28,600	1,698
26,300	64,740	34,840	2,804
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,300	64,740	34,840	2,804
25,500	70,590	28,600	1,698
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,500	63,180	-1,885	1,951
22,300	2,015	-1,495	57
Top PUT Volume:
Strike	OI	OI Change	Volume
26,300	64,740	34,840	2,804
26,350	38,025	27,430	2,216

MIDCPNIFTY Monthly Expiry (26/06/2025)

The MIDCPNIFTY index closed at 12951.7. The MIDCPNIFTY monthly expiry for JUNE 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.111 against previous 1.157. The 12500PE option holds the maximum open interest, followed by the 12000PE and 14000CE options. Market participants have shown increased interest with significant open interest additions in the 12500CE option, with open interest additions also seen in the 12900PE and 12500PE options. On the other hand, open interest reductions were prominent in the 77500PE, 77500PE, and 77500PE options. Trading volume was highest in the 13000CE option, followed by the 13500CE and 12900PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,951.70	1.111	1.157	1.024
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	30,29,760	27,58,320	2,71,440
PUT:	33,66,120	31,90,560	1,75,560
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	3,70,800	31,920	2,659
13,500	3,61,800	13,560	9,223
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
12,500	2,53,200	1,40,760	2,061
13,000	3,48,240	64,560	15,717
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
12,800	1,31,520	-1,41,000	5,586
12,700	1,01,520	-30,120	1,390
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	3,48,240	64,560	15,717
13,500	3,61,800	13,560	9,223
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,500	4,45,800	85,440	8,188
12,000	3,77,040	-88,800	5,602
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,900	1,33,320	1,11,720	8,705
12,500	4,45,800	85,440	8,188
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,000	3,77,040	-88,800	5,602
12,750	97,560	-54,120	2,967
Top PUT Volume:
Strike	OI	OI Change	Volume
12,900	1,33,320	1,11,720	8,705
12,500	4,45,800	85,440	8,188

Conclusion: What the Future & Option Chain Analysis Tells Us

The 5th June F&O data reveals cautious optimism: Nifty’s 24,750–24,700 support zone (aligned with max pain) and 26,000 CALL wall suggest a rangebound grind unless it breaches 24,800–24,700 zones. BankNifty’s 55,700 max pain and 57,000 CALL OI indicate resistances zones, requiring a close above 57,000 to sustain momentum. MIDCPNIFTY’s 12,800 max pain and FINNIFTY’s 26,400 support favor selective midcap/financial plays, but SENSEX’s 81,000 PCR rebound (0.770) remains fragile. Traders should deploy hedged strategies—long 24,500-24,700 PUTs —while tracking RBI policy and global cues. As June unfolds, F&O market trends—PCR swings, premium decay, and sectoral divergence—will dictate whether this relief rally evolves into a sustained upmove or fizzles into consolidation.

Check Previous Day’s Nifty Indices F&O Analysis

FII / FPI trading activity in Capital Market Segment

NSE Derivatives Raw Data

BSE Derivatives Raw Data

Disclaimer

fnodata.com is a financial blog providing research-based data and analysis. The content creator of the fnodata.com is not a SEBI registered Investment Advisor. The content on this blog is for informational purposes only and should not be considered as investment advice. You are responsible for your own investment decisions. You should consult with a financial advisor or conduct your own research before making any investment decisions.