NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 4/07/2025

The Open Interest Volume Analysis for 4th July 2025 shows the market in a classic expiry hangover mode, with Nifty July futures inching up just 0.12% to 25,540.10 and open interest falling by 1.7%. The premium narrowed sharply by 24 points, reflecting a lack of aggressive fresh buying even as the index held above 25,450. On the options front, the weekly Put-Call Ratio (OI) ticked up slightly to 0.757, but call writers remain dominant at 25,500 and 26,000 strikes, making 25,500 a tough hurdle for bulls in the near term.

Max pain for both weekly and monthly series is tightly clustered at 25,450–25,400, reinforcing this zone as a magnet for expiry-related action. BankNifty futures managed a modest 0.3% gain but saw a 3.6% drop in OI, and the PCR (OI) remains below 1, suggesting traders are still booking profits on rallies. Meanwhile, FINNIFTY and MIDCPNIFTY showed mixed cues—FINNIFTY’s OI rose 1.8% despite a premium drop, hinting at fresh short buildup, while MIDCPNIFTY saw a mild OI dip and steady support at 13,400.

NSE & BSE F&O Market Signals

NIFTY JUNE Future

NIFTY Spot closed at: 25,461.00 (0.22%)

NIFTY JULY Future closed at: 25,540.10 (0.12%)

Premium: 79.1 (Decreased by -24.2 points)

Open Interest Change: -1.7%

Volume Change: -33.7%

NIFTY Weekly Expiry (10/07/2025) Option Analysis

Put-Call Ratio (OI): 0.757 (Increased from 0.738)

Put-Call Ratio (Volume): 0.962

Max Pain Level: 25450

Maximum CALL OI: 26500

Maximum PUT OI: 25000

Highest CALL Addition: 27400

Highest PUT Addition: 25200

NIFTY Monthly Expiry (31/07/2025) Option Analysis

Put-Call Ratio (OI): 1.179 (Decreased from 1.206)

Put-Call Ratio (Volume): 0.999

Max Pain Level: 25400

Maximum CALL OI: 26000

Maximum PUT OI: 25000

Highest CALL Addition: 27000

Highest PUT Addition: 23500

BANKNIFTY JULY Future

BANKNIFTY Spot closed at: 57,031.90 (0.42%)

BANKNIFTY JULY Future closed at: 57,293.80 (0.30%)

Premium: 261.9 (Decreased by -65.75 points)

Open Interest Change: -3.6%

Volume Change: 0.4%

BANKNIFTY Monthly Expiry  (31/07/2025) Option Analysis

Put-Call Ratio (OI): 0.964 (Increased from 0.930)

Put-Call Ratio (Volume): 0.891

Max Pain Level: 56900

Maximum CALL OI: 56000

Maximum PUT OI: 56000

Highest CALL Addition: 57000

Highest PUT Addition: 55000

FINNIFTY JULY Future

FINNIFTY Spot closed at: 26,866.30 (0.49%)

FINNIFTY JULY Future closed at: 26,997.30 (0.39%)

Premium:  131 (Decreased by -26.4 points)

Open Interest Change: 1.8%

Volume Change: -37.1%

FINNIFTY Monthly Expiry  (31/07/2025) Option Analysis

Put-Call Ratio (OI): 0.880 (Decreased from 0.895)

Put-Call Ratio (Volume): 0.901

Max Pain Level: 27000

Maximum CALL OI: 28000

Maximum PUT OI: 27000

Highest CALL Addition: 28500

Highest PUT Addition: 24500

MIDCPNIFTY JULY Future

MIDCPNIFTY Spot closed at: 13,416.00 (-0.35%)

MIDCPNIFTY JULY Future closed at: 13,464.85 (-0.38%)

Premium: 48.85 (Decreased by -4.4 points)

Open Interest Change: -1.0%

Volume Change: 3.6%

MIDCPNIFTY Monthly Expiry  (31/07/2025) Option Analysis

Put-Call Ratio (OI): 0.988 (Increased from 0.971)

Put-Call Ratio (Volume): 0.702

Max Pain Level: 13400

Maximum CALL OI: 14000

Maximum PUT OI: 13000

Highest CALL Addition: 13400

Highest PUT Addition: 13400

SENSEX Weekly Expiry (8/07/2025) Future

SENSEX Spot closed at: 83,432.89 (0.23%)

SENSEX Weekly Future closed at: 83,418.10 (0.12%)

Discount: -14.79 (Decreased by -91.47 points)

Open Interest Change: -1.3%

Volume Change: -18.3%

SENSEX Weekly Expiry (8/07/2025) Option Analysis

Put-Call Ratio (OI): 0.707 (Increased from 0.621)

Put-Call Ratio (Volume): 0.954

Max Pain Level: 83400

Maximum CALL OI: 86000

Maximum PUT OI: 81000

Highest CALL Addition: 85000

Highest PUT Addition: 81000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 760.11 Cr
DIIs Net SELL: ₹ 1,028.84 Cr

FII Derivatives Activity

FII Trading Stats	4.07.25	3.07.25	2.07.25
FII Cash (Provisional Data)	-760.11	1,481.19	-1,561.62
Index Future Open Interest Long Ratio	28.63%	29.29%	33.40%
Index Future Volume Long Ratio	42.31%	35.40%	32.50%
Call Option Open Interest Long Ratio	54.58%	55.00%	46.57%
Call Option Volume Long Ratio	50.05%	50.62%	49.49%
Put Option Open Interest Long Ratio	60.74%	64.03%	58.91%
Put Option Volume Long Ratio	49.87%	50.22%	50.04%
Stock Future Open Interest Long Ratio	64.22%	64.32%	64.32%
Stock Future Volume Long Ratio	49.27%	49.70%	51.21%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Fresh Short	Short Covering	Fresh Short
Nifty Futures	Fresh Short	Long Covering	Fresh Short
Nifty Options	Fresh Short	Short Covering	Fresh Short
BankNifty Futures	Fresh Short	Fresh Short	Long Covering
BankNifty Options	Fresh Long	Fresh Short	Fresh Short
FinNifty Futures	Short Covering	Long Covering	Fresh Short
FinNifty Options	Fresh Long	Fresh Short	Fresh Short
MidcpNifty Futures	Short Covering	Short Covering	Fresh Short
MidcpNifty Options	Fresh Long	Fresh Short	Long Covering
NiftyNxt50 Futures	Fresh Short	Fresh Short	Short Covering
NiftyNxt50 Options	Fresh Short	Fresh Long	Fresh Long
Stock Futures	Fresh Short	Long Covering	Short Covering
Stock Options	Fresh Short	Fresh Short	Fresh Long

NSE & BSE Option market Trends : Options Insights

NIFTY weekly Expiry (10/07/2025)

The NIFTY index closed at 25461. The NIFTY weekly expiry for JULY 10, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.757 against previous 0.738. The 26500CE option holds the maximum open interest, followed by the 26000CE and 25500CE options. Market participants have shown increased interest with significant open interest additions in the 27400CE option, with open interest additions also seen in the 27000CE and 25200PE options. On the other hand, open interest reductions were prominent in the 25600PE, 25500PE, and 24250PE options. Trading volume was highest in the 25400PE option, followed by the 25400CE and 25500CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	10-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,461.00	0.757	0.738	0.962
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	12,33,77,325	7,90,16,025	4,43,61,300
PUT:	9,34,28,775	5,83,02,000	3,51,26,775
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,500	85,82,475	27,13,500	6,09,904
26,000	84,26,775	21,99,150	12,01,817
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,400	68,45,250	40,55,100	2,65,067
27,000	65,27,025	32,59,500	3,04,817
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	1,71,900	-11,250	1,200
24,000	1,18,950	-6,825	3,064
Top CALL Volume:
Strike	OI	OI Change	Volume
25,400	38,81,475	15,32,775	27,45,054
25,500	70,26,000	6,78,000	23,40,871
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	62,41,575	8,13,150	16,20,689
24,000	61,45,200	13,42,950	4,07,043
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,200	51,86,100	30,01,950	13,66,644
25,300	44,36,175	21,15,825	20,87,489
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,600	13,19,850	-2,64,750	2,50,234
25,500	42,62,175	-2,61,150	11,68,060
Top PUT Volume:
Strike	OI	OI Change	Volume
25,400	48,96,675	18,24,900	32,83,637
25,300	44,36,175	21,15,825	20,87,489

SENSEX weekly Expiry (08/07/2025)

The SENSEX index closed at 83432.89. The SENSEX weekly expiry for JULY 08, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.707 against previous 0.621. The 86000CE option holds the maximum open interest, followed by the 85000CE and 81000PE options. Market participants have shown increased interest with significant open interest additions in the 81000PE option, with open interest additions also seen in the 85000CE and 82500PE options. On the other hand, open interest reductions were prominent in the 83500CE, 83500PE, and 85300CE options. Trading volume was highest in the 83000PE option, followed by the 84000CE and 83500CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	08-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
83432.89	0.707	0.621	0.954
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,82,53,880	1,40,64,869	41,89,011
PUT:	1,29,01,620	87,39,720	41,61,900
Top CALL Open Interest:
Strike	OI	OI Change	Volume
86000	15,70,760	7,560	1,01,80,680
85000	13,61,020	4,40,620	1,71,57,260
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
85000	13,61,020	4,40,620	1,71,57,260
85500	11,19,820	3,32,220	91,34,200
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
83500	5,91,200	-2,16,540	2,64,79,020
85300	1,95,740	-77,260	32,78,140
Top CALL Volume:
Strike	OI	OI Change	Volume
84000	8,52,380	-18,120	2,71,29,300
83500	5,91,200	-2,16,540	2,64,79,020
Top PUT Open Interest:
Strike	OI	OI Change	Volume
81000	13,36,880	5,32,120	1,02,52,360
81500	9,10,400	3,30,980	1,08,75,140
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
81000	13,36,880	5,32,120	1,02,52,360
82500	6,31,080	3,51,040	2,25,83,160
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
83500	4,68,860	-1,60,980	96,53,780
83900	1,01,740	-36,060	2,86,200
Top PUT Volume:
Strike	OI	OI Change	Volume
83000	4,93,540	1,52,280	3,31,00,840
83200	3,49,360	1,54,440	2,53,38,160

NIFTY Monthly Expiry (31/07/2025)

The NIFTY index closed at 25461. The NIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.179 against previous 1.206. The 25000PE option holds the maximum open interest, followed by the 26000CE and 24500PE options. Market participants have shown increased interest with significant open interest additions in the 27000CE option, with open interest additions also seen in the 26000CE and 25600CE options. On the other hand, open interest reductions were prominent in the 26800CE, 25500PE, and 24000PE options. Trading volume was highest in the 26000CE option, followed by the 25500CE and 25500PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,461.00	1.179	1.206	0.999
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,81,32,175	3,70,20,225	11,11,950
PUT:	4,49,49,975	4,46,37,975	3,12,000
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	48,32,925	2,88,675	69,351
25,500	33,97,725	42,675	60,533
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,000	18,98,925	3,77,700	24,903
26,000	48,32,925	2,88,675	69,351
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,800	10,75,800	-1,68,075	12,808
26,500	31,04,550	-93,750	42,250
Top CALL Volume:
Strike	OI	OI Change	Volume
26,000	48,32,925	2,88,675	69,351
25,500	33,97,725	42,675	60,533
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	65,76,000	38,850	51,701
24,500	38,17,875	99,825	30,276
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,500	18,80,400	1,45,875	12,893
22,500	21,89,700	1,10,250	10,209
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,500	32,04,450	-1,27,875	56,301
24,000	33,94,050	-1,17,450	29,306
Top PUT Volume:
Strike	OI	OI Change	Volume
25,500	32,04,450	-1,27,875	56,301
25,000	65,76,000	38,850	51,701

BANKNIFTY Monthly Expiry (31/07/2025)

The BANKNIFTY index closed at 57031.9. The BANKNIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.964 against previous 0.930. The 56000PE option holds the maximum open interest, followed by the 56000CE and 57000PE options. Market participants have shown increased interest with significant open interest additions in the 55000PE option, with open interest additions also seen in the 46000PE and 54000PE options. On the other hand, open interest reductions were prominent in the 62000CE, 62500CE, and 53000PE options. Trading volume was highest in the 57000CE option, followed by the 57000PE and 56800PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,031.90	0.964	0.930	0.891
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,51,78,275	1,50,94,074	84,201
PUT:	1,46,31,120	1,40,42,875	5,88,245
Top CALL Open Interest:
Strike	OI	OI Change	Volume
56,000	13,98,320	-5,670	7,448
57,000	10,92,910	88,095	1,27,898
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
57,000	10,92,910	88,095	1,27,898
65,000	2,34,955	59,395	13,392
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
62,000	5,46,210	-76,055	29,506
62,500	1,55,190	-57,715	12,069
Top CALL Volume:
Strike	OI	OI Change	Volume
57,000	10,92,910	88,095	1,27,898
57,500	9,10,630	-23,905	68,194
Top PUT Open Interest:
Strike	OI	OI Change	Volume
56,000	21,11,445	-16,100	57,407
57,000	13,00,390	79,905	1,13,299
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
55,000	9,34,080	1,06,890	38,719
46,000	5,88,875	94,115	25,566
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
53,000	6,61,325	-53,480	24,247
57,200	2,06,815	-31,885	19,946
Top PUT Volume:
Strike	OI	OI Change	Volume
57,000	13,00,390	79,905	1,13,299
56,800	2,51,510	55,615	90,545

FINNIFTY Monthly Expiry (31/07/2025)

The FINNIFTY index closed at 26866.3. The FINNIFTY monthly expiry for JULY 31, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.880 against previous 0.895. The 28000CE option holds the maximum open interest, followed by the 27000CE and 27000PE options. Market participants have shown increased interest with significant open interest additions in the 28500CE option, with open interest additions also seen in the 24500PE and 25500PE options. On the other hand, open interest reductions were prominent in the 29000CE, 25000PE, and 27000CE options. Trading volume was highest in the 28000CE option, followed by the 26800PE and 25000PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,866.30	0.880	0.895	0.901
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,74,050	6,85,100	-11,050
PUT:	5,93,320	6,12,885	-19,565
Top CALL Open Interest:
Strike	OI	OI Change	Volume
28,000	1,01,465	-7,020	3,590
27,000	83,200	-19,435	2,600
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
28,500	49,660	14,300	2,007
27,500	63,700	6,825	2,237
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
29,000	57,850	-22,035	1,583
27,000	83,200	-19,435	2,600
Top CALL Volume:
Strike	OI	OI Change	Volume
28,000	1,01,465	-7,020	3,590
26,800	17,355	5,655	2,712
Top PUT Open Interest:
Strike	OI	OI Change	Volume
27,000	78,325	-3,770	1,203
25,000	46,215	-20,930	2,844
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,500	27,300	9,685	909
25,500	39,910	7,735	1,449
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	46,215	-20,930	2,844
27,200	12,545	-17,875	616
Top PUT Volume:
Strike	OI	OI Change	Volume
26,800	19,110	-65	3,481
25,000	46,215	-20,930	2,844

MIDCPNIFTY Monthly Expiry (31/07/2025)

The MIDCPNIFTY index closed at 13416. The MIDCPNIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.988 against previous 0.971. The 14000CE option holds the maximum open interest, followed by the 13000PE and 14500CE options. Market participants have shown increased interest with significant open interest additions in the 13400PE option, with open interest additions also seen in the 12700PE and 12100PE options. On the other hand, open interest reductions were prominent in the 69000CE, 68800CE, and 68800PE options. Trading volume was highest in the 13500CE option, followed by the 14000CE and 13400PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,416.00	0.988	0.971	0.702
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	43,38,180	43,88,300	-50,120
PUT:	42,84,980	42,58,940	26,040
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	7,98,140	21,980	12,534
14,500	5,83,520	19,880	6,834
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,400	1,93,340	26,740	11,053
14,800	2,26,800	22,120	910
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,500	5,55,240	-2,20,500	20,309
13,700	1,43,360	-22,680	3,976
Top CALL Volume:
Strike	OI	OI Change	Volume
13,500	5,55,240	-2,20,500	20,309
14,000	7,98,140	21,980	12,534
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	6,39,520	-1,18,720	8,373
12,000	5,10,440	31,780	2,446
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,400	3,30,540	68,600	12,239
12,700	2,11,680	47,320	1,732
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,000	6,39,520	-1,18,720	8,373
13,450	81,060	-40,600	5,141
Top PUT Volume:
Strike	OI	OI Change	Volume
13,400	3,30,540	68,600	12,239
13,500	2,93,300	-28,420	12,102

Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us

This session’s Open Interest Volume Analysis highlights a market at a crossroads. Nifty’s 25,450–25,500 zone is the battleground, with strong call writing capping upside and max pain acting as a magnet for expiry settlement. For traders, the actionable play is to stay nimble: consider neutral strategies like short straddles or iron condors around 25,500, or look for quick directional trades if Nifty breaks above 25,600 or slips below 25,400.

BankNifty’s 57,000–57,500 range is equally pivotal, with resistance at 57,500 and support at 56,000. Sectorally, keep an eye on financials—FINNIFTY’s OI build suggests more volatility ahead, while MIDCPNIFTY’s steady base at 13,400 offers a cushion for midcap bulls. As the market digests expiry moves and awaits fresh triggers, this Open Interest Volume Analysis will be your best guide to navigating choppy waters and spotting the next breakout or breakdown.

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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