F&O Expiry Signals: Will Nifty Defend 25K in Volatile Settlement? क्या निफ्टी 25 हजार की रक्षा कर पाएगा?

The F&O expiry signals on 23rd June 2025 revealed heightened volatility ahead of Thursday’s monthly settlement, with Nifty futures sliding to 24,993.30 (-0.47%) amid a 15.6% open interest unwinding and PCR (OI) drop to 0.980. BankNifty futures struggled at 56,097.80 (-0.36%) with max pain anchored at 56,000, while MIDCPNIFTY’s PCR (OI) surge to 1.051 and premium spike (+20.7 points) signaled midcap resilience. With NSE shifting expiries to Tuesdays from August, let’s decode whether these F&O expiry signals foreshadow a chaotic settlement or a calm rollover.

NSE & BSE F&O Market Signals

NIFTY JUNE Future

NIFTY Spot closed at: 24,971.90 (-0.56%)

NIFTY JUNE Future closed at: 24,993.30 (-0.47%)

Premium: 21.4 (Increased by 22.1 points)

Open Interest Change: -15.6%

Volume Change: 5.5%

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

Put-Call Ratio (OI): 0.980 (Decreased from 1.120)

Put-Call Ratio (Volume): 0.798

Max Pain Level: 25000

Maximum CALL OI: 26000

Maximum PUT OI: 24000

Highest CALL Addition: 26500

Highest PUT Addition: 24900

BANKNIFTY JUNE Future

BANKNIFTY Spot closed at: 56,059.35 (-0.34%)

BANKNIFTY JUNE Future closed at: 56,097.80 (-0.36%)

Premium: 38.45 (Decreased by -6.7 points)

Open Interest Change: -17.5%

Volume Change: 4.7%

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

Put-Call Ratio (OI): 0.844 (Decreased from 0.866)

Put-Call Ratio (Volume): 0.923

Max Pain Level: 56000

Maximum CALL OI: 56000

Maximum PUT OI: 56000

Highest CALL Addition: 64500

Highest PUT Addition: 48500

FINNIFTY JUNE Future

FINNIFTY Spot closed at: 26,556.50 (-0.35%)

FINNIFTY JUNE Future closed at: 26,573.00 (-0.35%)

Premium:  16.5 (Decreased by -2.3 points)

Open Interest Change: -7.1%

Volume Change: -38.5%

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

Put-Call Ratio (OI): 0.902 (Increased from 0.868)

Put-Call Ratio (Volume): 0.901

Max Pain Level: 26550

Maximum CALL OI: 27000

Maximum PUT OI: 26500

Highest CALL Addition: 27700

Highest PUT Addition: 26500

MIDCPNIFTY JUNE Future

MIDCPNIFTY Spot closed at: 13,033.10 (0.38%)

MIDCPNIFTY JUNE Future closed at: 13,056.60 (0.53%)

Premium: 23.5 (Increased by 20.7 points)

Open Interest Change: -16.8%

Volume Change: -2.7%

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

Put-Call Ratio (OI): 1.051 (Increased from 0.917)

Put-Call Ratio (Volume): 0.901

Max Pain Level: 13000

Maximum CALL OI: 13500

Maximum PUT OI: 13000

Highest CALL Addition: 13400

Highest PUT Addition: 13000

SENSEX Weekly Expiry (24/06/2025) Future

SENSEX Spot closed at: 81,896.79 (-0.62%)

SENSEX Weekly Future closed at: 81,967.25 (-0.54%)

Premium: 70.46 (Increased by 68.98 points)

Open Interest Change: -16.2%

Volume Change: -19.6%

SENSEX Weekly Expiry (24/06/2025) Option Analysis

Put-Call Ratio (OI): 1.083 (Decreased from 1.349)

Put-Call Ratio (Volume): 0.857

Max Pain Level: 81900

Maximum CALL OI: 84000

Maximum PUT OI: 80000

Highest CALL Addition: 83000

Highest PUT Addition: 80000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,874.38 Cr
DIIs Net Buy: ₹ 5,591.77 Cr

FII Derivatives Activity

FII Trading Stats	23.06.25	20.06.25	19.06.25
FII Cash (Provisional Data)	-1,874.38	7,940.70	934.62
Index Future Open Interest Long Ratio	22.69%	23.79%	22.35%
Index Future Volume Long Ratio	45.79%	50.43%	53.14%
Call Option Open Interest Long Ratio	58.50%	57.30%	62.71%
Call Option Volume Long Ratio	50.18%	49.65%	50.26%
Put Option Open Interest Long Ratio	59.08%	57.41%	63.52%
Put Option Volume Long Ratio	50.38%	49.53%	50.21%
Stock Future Open Interest Long Ratio	62.63%	62.25%	61.67%
Stock Future Volume Long Ratio	50.17%	53.27%	49.51%
Index Futures	Fresh Short	Fresh Long	Fresh Long
Index Options	Fresh Long	Fresh Short	Short Covering
Nifty Futures	Fresh Short	Fresh Short	Fresh Long
Nifty Options	Fresh Long	Fresh Short	Short Covering
BankNifty Futures	Fresh Short	Short Covering	Fresh Short
BankNifty Options	Long Covering	Fresh Short	Fresh Long
FinNifty Futures	Long Covering	Long Covering	Long Covering
FinNifty Options	Short Covering	Fresh Short	Fresh Short
MidcpNifty Futures	Long Covering	Fresh Long	Long Covering
MidcpNifty Options	Fresh Short	Fresh Long	Fresh Long
NiftyNxt50 Futures	Fresh Short	Fresh Short	Long Covering
NiftyNxt50 Options	Fresh Short	Fresh Long	Fresh Long
Stock Futures	Fresh Short	Fresh Long	Short Covering
Stock Options	Fresh Long	Fresh Long	Fresh Long

NSE & BSE F&O market Trends : Options Insights

SENSEX Weekly Expiry (24/06/2025)

The SENSEX index closed at 81896.79. The SENSEX weekly expiry for JUNE 24, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.083 against previous 1.349. The 84000CE option holds the maximum open interest, followed by the 80000PE and 83000CE options. Market participants have shown increased interest with significant open interest additions in the 83000CE option, with open interest additions also seen in the 80000PE and 82000CE options. On the other hand, open interest reductions were prominent in the 77000PE, 76500PE, and 77500PE options. Trading volume was highest in the 82000CE option, followed by the 83000CE and 82500CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	24-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81896.79	1.083	1.349	0.857
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,66,48,760	1,17,38,589	49,10,171
PUT:	1,80,38,060	1,58,39,100	21,98,960
Top CALL Open Interest:
Strike	OI	OI Change	Volume
84000	11,99,560	1,50,200	1,62,51,040
83000	11,72,860	6,31,580	5,08,35,260
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
83000	11,72,860	6,31,580	5,08,35,260
82000	8,89,880	3,95,620	5,26,30,620
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
88000	1,39,220	-1,23,200	8,15,640
86500	74,620	-1,08,080	6,18,560
Top CALL Volume:
Strike	OI	OI Change	Volume
82000	8,89,880	3,95,620	5,26,30,620
83000	11,72,860	6,31,580	5,08,35,260
Top PUT Open Interest:
Strike	OI	OI Change	Volume
80000	11,88,020	4,04,320	2,08,56,100
79000	9,61,740	2,54,340	99,17,280
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
80000	11,88,020	4,04,320	2,08,56,100
79500	7,78,240	3,25,040	97,13,140
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
77000	3,66,140	-2,34,000	34,35,660
76500	1,92,300	-1,65,000	16,34,380
Top PUT Volume:
Strike	OI	OI Change	Volume
81500	8,44,700	51,780	4,18,06,280
81000	7,58,180	1,42,080	3,95,59,020

NIFTY Monthly Expiry (26/06/2025)

The NIFTY index closed at 24971.9. The NIFTY monthly expiry for JUNE 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.980 against previous 1.120. The 26000CE option holds the maximum open interest, followed by the 24000PE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 26500CE option, with open interest additions also seen in the 25000CE and 24900PE options. On the other hand, open interest reductions were prominent in the 25400CE, 25100PE, and 22500PE options. Trading volume was highest in the 25000CE option, followed by the 24900PE and 25000PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,971.90	0.980	1.120	0.798
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	16,69,63,375	14,09,72,400	2,59,90,975
PUT:	16,36,04,675	15,79,57,975	56,46,700
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	1,48,08,150	-7,39,775	10,23,151
25,000	1,05,73,300	24,31,375	33,26,363
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,500	1,02,68,775	55,64,100	5,92,618
25,000	1,05,73,300	24,31,375	33,26,363
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,400	34,80,150	-13,88,325	13,07,759
26,000	1,48,08,150	-7,39,775	10,23,151
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	1,05,73,300	24,31,375	33,26,363
24,900	50,01,150	17,90,025	21,63,110
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	1,07,68,825	9,92,325	9,11,844
25,000	94,52,875	-3,38,675	23,04,885
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,900	81,53,025	19,54,800	27,22,964
24,600	50,41,725	18,35,700	8,76,003
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,100	27,78,750	-10,96,650	5,21,130
22,500	29,05,050	-9,46,050	1,78,951
Top PUT Volume:
Strike	OI	OI Change	Volume
24,900	81,53,025	19,54,800	27,22,964
25,000	94,52,875	-3,38,675	23,04,885

BANKNIFTY Monthly Expiry (26/06/2025)

The BANKNIFTY index closed at 56059.35. The BANKNIFTY monthly expiry for JUNE 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.844 against previous 0.866. The 56000PE option holds the maximum open interest, followed by the 56000CE and 57000CE options. Market participants have shown increased interest with significant open interest additions in the 48500PE option, with open interest additions also seen in the 64500CE and 49000PE options. On the other hand, open interest reductions were prominent in the 60000CE, 56000PE, and 55000PE options. Trading volume was highest in the 56000CE option, followed by the 56000PE and 55900PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
56,059.35	0.844	0.866	0.923
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,50,56,315	2,46,65,505	3,90,810
PUT:	2,11,39,155	2,13,54,309	-2,15,154
Top CALL Open Interest:
Strike	OI	OI Change	Volume
56,000	20,16,660	-1,73,850	5,57,856
57,000	17,34,570	1,84,680	2,98,355
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
64,500	11,46,420	1,99,710	46,162
57,000	17,34,570	1,84,680	2,98,355
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	11,56,860	-2,05,890	64,087
56,000	20,16,660	-1,73,850	5,57,856
Top CALL Volume:
Strike	OI	OI Change	Volume
56,000	20,16,660	-1,73,850	5,57,856
56,500	12,75,120	-56,340	3,07,997
Top PUT Open Interest:
Strike	OI	OI Change	Volume
56,000	21,16,140	-1,93,170	5,17,115
55,000	14,49,840	-1,92,810	2,53,722
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
48,500	3,16,920	2,67,180	20,623
49,000	4,22,370	1,85,880	29,628
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
56,000	21,16,140	-1,93,170	5,17,115
55,000	14,49,840	-1,92,810	2,53,722
Top PUT Volume:
Strike	OI	OI Change	Volume
56,000	21,16,140	-1,93,170	5,17,115
55,900	4,56,780	1,25,610	3,14,752

FINNIFTY Monthly Expiry (26/06/2025)

The FINNIFTY index closed at 26556.5. The FINNIFTY monthly expiry for JUNE 26, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.902 against previous 0.868. The 27000CE option holds the maximum open interest, followed by the 28000CE and 27500CE options. Market participants have shown increased interest with significant open interest additions in the 27700CE option, with open interest additions also seen in the 27800CE and 26500PE options. On the other hand, open interest reductions were prominent in the 27300CE, 28000CE, and 24500PE options. Trading volume was highest in the 26500CE option, followed by the 26500PE and 26300PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,556.50	0.902	0.868	0.901
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	20,90,075	21,79,255	-89,180
PUT:	18,85,910	18,90,850	-4,940
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,000	1,76,735	-1,560	11,184
28,000	1,66,400	-45,695	6,525
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,700	1,14,920	51,545	4,214
27,800	1,03,350	42,380	3,388
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,300	1,38,125	-61,685	9,495
28,000	1,66,400	-45,695	6,525
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	95,095	10,075	20,674
26,600	71,045	26,325	14,589
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,500	1,42,675	36,140	18,550
25,500	1,25,970	14,885	6,307
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,500	1,42,675	36,140	18,550
22,500	41,795	29,705	937
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	56,485	-41,795	4,845
26,300	1,03,090	-16,705	17,222
Top PUT Volume:
Strike	OI	OI Change	Volume
26,500	1,42,675	36,140	18,550
26,300	1,03,090	-16,705	17,222

MIDCPNIFTY Monthly Expiry (26/06/2025)

revealed key trends in open interest. The current Put/Call Ratio is at 1.051 against previous 0.917. The 13000PE option holds the maximum open interest, followed by the 13500CE and 13000CE options. Market participants have shown increased interest with significant open interest additions in the 13000PE option, with open interest additions also seen in the 12400PE and 13400CE options. On the other hand, open interest reductions were prominent in the 66000PE, 68000CE, and 70000CE options. Trading volume was highest in the 13000CE option, followed by the 13000PE and 13100CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	26-06-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,033.10	1.051	0.917	0.901
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,03,73,520	1,06,11,840	-2,38,320
PUT:	1,09,01,040	97,27,920	11,73,120
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,500	11,01,480	-1,66,560	43,850
13,000	9,67,320	73,560	78,251
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,400	7,08,120	1,93,800	32,027
13,350	2,23,800	75,240	9,014
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,000	6,97,200	-2,41,200	12,628
13,300	5,34,600	-1,88,760	45,280
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	9,67,320	73,560	78,251
13,100	4,49,400	40,800	50,935
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	12,17,640	5,03,280	66,599
12,000	9,35,400	-1,03,680	24,290
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,000	12,17,640	5,03,280	66,599
12,400	7,60,920	3,48,480	22,635
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,100	1,46,520	-1,29,480	11,609
12,000	9,35,400	-1,03,680	24,290
Top PUT Volume:
Strike	OI	OI Change	Volume
13,000	12,17,640	5,03,280	66,599
12,900	5,61,840	-34,920	48,633

Conclusion: What the Future & Option Chain Analysis Tells Us

The 23rd June F&O data underscores a tense expiry setup: Nifty’s 25,000 max pain and put additions at 24,900 suggest strong support, but resistance at 25,200 (call OI: 26,500) may cap upside. BankNifty’s 56,000 max pain and FINNIFTY’s 26,550 support favor rangebound action, while MIDCPNIFTY’s 13,000 base offers tactical opportunities. Traders should deploy 25,000 straddles and monitor rollovers (OI drops: -15.6% Nifty, -17.5% BankNifty), leveraging RBI policy cues. As the last Thursday expiry approaches, these F&O expiry signals—PCR swings, max pain clusters, and premium trends—will dictate whether bulls hold key levels or bears force a breakdown.

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

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