NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 9/07/2025

The Open Interest Volume Analysis for 9th July 2025 reveals a market stuck in a tug-of-war, with Nifty July futures slipping 0.21% to 25,558.80 and open interest ticking up 0.9%. The premium narrowed by nearly 7 points, hinting at a lack of conviction among both bulls and bears. On the options front, the weekly Put-Call Ratio (OI) tumbled to 0.715, its lowest in days, as call writers aggressively built positions at 25,500 and 26,000. Max pain is locked at 25,500, while the highest put additions at 24,900 and calls at 25,500 reinforce this zone as the expiry battleground. The monthly option chain paints a slightly more optimistic picture, with a PCR (OI) above 1.18 and max pain at 25,400, suggesting that longer-term participants are still hedged for a bounce, even as short-term traders brace for volatility.

BankNifty futures echoed this cautious tone, ending down 0.12% with a 1.3% OI rise and a sharply lower premium, while the monthly PCR (OI) slipped to 0.944. Heavy call writing at 61,000 and put additions at 57,900 indicate a wide range, but with max pain at 57,000, the index may stay rangebound. FINNIFTY stood out with a modest gain and a slight OI dip, but a healthy PCR (OI) rebound to 1.003 signals renewed put writing at 25,000. MIDCPNIFTY remained under pressure, with a PCR (OI) drop to 0.782 and max pain at 13,400, reflecting sectoral rotation and profit-booking in midcaps. SENSEX futures, meanwhile, saw a notable premium spike and a 34.7% OI jump, but the options data showed a bearish tilt with a PCR (OI) drop to 0.671 and max pain at 83,500.

NSE & BSE F&O Market Signals

NIFTY JUNE Future

NIFTY Spot closed at: 25,476.10 (-0.18%)

NIFTY JULY Future closed at: 25,558.80 (-0.21%)

Premium: 82.7 (Decreased by -6.7 points)

Open Interest Change: 0.9%

Volume Change: 15.4%

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

Put-Call Ratio (OI): 0.715 (Decreased from 0.935)

Put-Call Ratio (Volume): 0.830

Max Pain Level: 25500

Maximum CALL OI: 26000

Maximum PUT OI: 25400

Highest CALL Addition: 25500

Highest PUT Addition: 24900

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

Put-Call Ratio (OI): 1.180 (Increased from 1.178)

Put-Call Ratio (Volume): 1.008

Max Pain Level: 25400

Maximum CALL OI: 26000

Maximum PUT OI: 25000

Highest CALL Addition: 25500

Highest PUT Addition: 25000

BANKNIFTY JULY Future

BANKNIFTY Spot closed at: 57,213.55 (-0.07%)

BANKNIFTY JULY Future closed at: 57,383.60 (-0.12%)

Premium: 170.05 (Decreased by -27.65 points)

Open Interest Change: 1.3%

Volume Change: -25.0%

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

Put-Call Ratio (OI): 0.944 (Decreased from 0.972)

Put-Call Ratio (Volume): 0.917

Max Pain Level: 57000

Maximum CALL OI: 56000

Maximum PUT OI: 56000

Highest CALL Addition: 61000

Highest PUT Addition: 57900

FINNIFTY JULY Future

FINNIFTY Spot closed at: 27,058.45 (0.15%)

FINNIFTY JULY Future closed at: 27,159.70 (0.17%)

Premium:  101.25 (Increased by 3.6 points)

Open Interest Change: -0.8%

Volume Change: -16.8%

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

Put-Call Ratio (OI): 1.003 (Increased from 0.870)

Put-Call Ratio (Volume): 0.849

Max Pain Level: 27000

Maximum CALL OI: 28000

Maximum PUT OI: 25000

Highest CALL Addition: 28000

Highest PUT Addition: 25000

MIDCPNIFTY JULY Future

MIDCPNIFTY Spot closed at: 13,291.85 (-0.31%)

MIDCPNIFTY JULY Future closed at: 13,338.45 (-0.44%)

Premium: 46.6 (Decreased by -16.9 points)

Open Interest Change: 0.3%

Volume Change: -51.7%

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

Put-Call Ratio (OI): 0.782 (Decreased from 0.869)

Put-Call Ratio (Volume): 0.658

Max Pain Level: 13400

Maximum CALL OI: 14000

Maximum PUT OI: 13000

Highest CALL Addition: 13500

Highest PUT Addition: 13400

SENSEX Weekly Expiry (15/07/2025) Future

SENSEX Spot closed at: 83,536.08 (-0.21%)

SENSEX Weekly Future closed at: 83,664.60 (-0.13%)

Premium: 128.52 (Increased by 69.78 points)

Open Interest Change: 34.7%

Volume Change: -1.2%

SENSEX Weekly Expiry (15/07/2025) Option Analysis

Put-Call Ratio (OI): 0.671 (Decreased from 0.983)

Put-Call Ratio (Volume): 0.806

Max Pain Level: 83500

Maximum CALL OI: 86000

Maximum PUT OI: 83500

Highest CALL Addition: 86000

Highest PUT Addition: 81000

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 77.00 Cr
DIIs Net BUY: ₹ 920.83 Cr

FII Derivatives Activity

FII Trading Stats	9.07.25	8.07.25	7.07.25
FII Cash (Provisional Data)	77	-26.12	321.16
Index Future Open Interest Long Ratio	27.70%	28.74%	28.25%
Index Future Volume Long Ratio	38.81%	46.79%	43.32%
Call Option Open Interest Long Ratio	51.06%	52.79%	53.54%
Call Option Volume Long Ratio	49.83%	49.91%	49.87%
Put Option Open Interest Long Ratio	59.07%	59.05%	59.71%
Put Option Volume Long Ratio	50.01%	49.90%	49.87%
Stock Future Open Interest Long Ratio	63.73%	63.88%	64.16%
Stock Future Volume Long Ratio	48.81%	47.21%	49.33%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Fresh Short	Fresh Short	Fresh Short
Nifty Futures	Fresh Short	Fresh Short	Fresh Short
Nifty Options	Fresh Short	Fresh Short	Fresh Short
BankNifty Futures	Fresh Long	Fresh Long	Fresh Short
BankNifty Options	Long Covering	Long Covering	Long Covering
FinNifty Futures	Long Covering	Long Covering	Short Covering
FinNifty Options	Fresh Long	Fresh Short	Fresh Long
MidcpNifty Futures	Fresh Long	Short Covering	Long Covering
MidcpNifty Options	Fresh Long	Fresh Short	Fresh Long
NiftyNxt50 Futures	Fresh Short	Fresh Short	Fresh Short
NiftyNxt50 Options	Fresh Short	Long Covering	Fresh Short
Stock Futures	Fresh Short	Fresh Short	Long Covering
Stock Options	Short Covering	Long Covering	Fresh Long

NSE & BSE Option market Trends : Options Insights

NIFTY weekly Expiry (10/07/2025)

The NIFTY index closed at 25476.1. The NIFTY weekly expiry for JULY 10, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.715 against previous 0.935. The 26000CE option holds the maximum open interest, followed by the 25500CE and 25600CE options. Market participants have shown increased interest with significant open interest additions in the 25500CE option, with open interest additions also seen in the 25550CE and 25600CE options. On the other hand, open interest reductions were prominent in the 26600CE, 24400PE, and 26700CE options. Trading volume was highest in the 25500CE option, followed by the 25500PE and 25600CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	10-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,476.10	0.715	0.935	0.830
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	17,18,45,175	13,76,61,450	3,41,83,725
PUT:	12,28,74,825	12,87,13,725	-58,38,900
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	1,63,02,150	36,58,650	24,40,794
25,500	1,56,55,800	74,46,900	70,69,206
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,500	1,56,55,800	74,46,900	70,69,206
25,550	85,27,725	49,33,725	47,68,531
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,600	22,56,900	-26,96,775	3,70,714
26,700	20,06,100	-13,11,750	2,59,892
Top CALL Volume:
Strike	OI	OI Change	Volume
25,500	1,56,55,800	74,46,900	70,69,206
25,600	1,23,75,600	49,31,775	49,92,756
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,400	98,46,525	-6,49,875	39,15,885
25,500	91,80,150	9,19,875	70,67,803
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,900	55,87,350	18,57,225	6,75,819
24,600	41,52,000	12,98,025	4,67,262
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,400	24,12,600	-17,62,275	2,39,471
24,300	12,54,150	-12,71,400	1,41,802
Top PUT Volume:
Strike	OI	OI Change	Volume
25,500	91,80,150	9,19,875	70,67,803
25,400	98,46,525	-6,49,875	39,15,885

SENSEX weekly Expiry (15/07/2025)

The SENSEX index closed at 83536.08. The SENSEX weekly expiry for JULY 15, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.671 against previous 0.983. The 86000CE option holds the maximum open interest, followed by the 85500CE and 83500CE options. Market participants have shown increased interest with significant open interest additions in the 86000CE option, with open interest additions also seen in the 85500CE and 87000CE options. On the other hand, open interest reductions were prominent in the 82300PE, 76000CE, and 90300CE options. Trading volume was highest in the 83500PE option, followed by the 83700CE and 83600PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	15-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
83536.08	0.671	0.983	0.806
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	70,38,320	23,77,969	46,60,351
PUT:	47,24,860	23,37,060	23,87,800
Top CALL Open Interest:
Strike	OI	OI Change	Volume
86000	7,28,380	4,40,500	70,63,760
85500	5,46,820	3,69,680	43,09,820
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
86000	7,28,380	4,40,500	70,63,760
85500	5,46,820	3,69,680	43,09,820
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
76000	1,700	-80	80
90300	380	-60	13,760
Top CALL Volume:
Strike	OI	OI Change	Volume
83700	2,12,920	1,58,440	77,90,240
86000	7,28,380	4,40,500	70,63,760
Top PUT Open Interest:
Strike	OI	OI Change	Volume
83500	3,80,640	1,62,320	84,04,860
81000	3,71,280	1,74,660	21,45,660
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
81000	3,71,280	1,74,660	21,45,660
83500	3,80,640	1,62,320	84,04,860
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
82300	38,120	-2,320	11,05,620
73500	340	-40	8,820
Top PUT Volume:
Strike	OI	OI Change	Volume
83500	3,80,640	1,62,320	84,04,860
83600	1,56,780	70,220	74,35,100

NIFTY Monthly Expiry (31/07/2025)

The NIFTY index closed at 25476.1. The NIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.180 against previous 1.178. The 25000PE 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 25000PE option, with open interest additions also seen in the 25500CE and 25500PE options. On the other hand, open interest reductions were prominent in the 24500PE, 24000PE, and 26800CE 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
25,476.10	1.180	1.178	1.008
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,90,09,300	3,80,83,575	9,25,725
PUT:	4,60,32,900	4,48,47,000	11,85,900
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	54,90,150	2,50,275	72,707
25,500	37,42,200	4,40,400	61,842
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,500	37,42,200	4,40,400	61,842
26,000	54,90,150	2,50,275	72,707
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,800	8,85,075	-1,46,700	12,664
25,000	29,42,625	-79,125	8,288
Top CALL Volume:
Strike	OI	OI Change	Volume
26,000	54,90,150	2,50,275	72,707
25,500	37,42,200	4,40,400	61,842
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	72,52,800	4,94,250	51,063
25,500	35,14,500	3,28,575	56,919
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,000	72,52,800	4,94,250	51,063
25,500	35,14,500	3,28,575	56,919
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	32,84,250	-3,29,250	41,365
24,000	29,35,800	-2,57,475	22,683
Top PUT Volume:
Strike	OI	OI Change	Volume
25,500	35,14,500	3,28,575	56,919
25,000	72,52,800	4,94,250	51,063

BANKNIFTY Monthly Expiry (31/07/2025)

The BANKNIFTY index closed at 57213.55. The BANKNIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.944 against previous 0.972. 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 61000CE option, with open interest additions also seen in the 57900PE and 57200CE options. On the other hand, open interest reductions were prominent in the 53000PE, 63000CE, and 60000CE options. Trading volume was highest in the 57000PE option, followed by the 57200PE and 57200CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,213.55	0.944	0.972	0.917
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,51,96,440	1,53,34,445	-1,38,005
PUT:	1,43,41,180	1,49,05,494	-5,64,314
Top CALL Open Interest:
Strike	OI	OI Change	Volume
56,000	13,92,545	-4,130	4,851
57,000	10,51,855	-4,480	79,994
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
61,000	7,77,000	73,640	29,222
57,200	3,67,710	51,730	81,215
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
63,000	3,52,030	-86,835	14,014
60,000	9,61,940	-75,110	46,194
Top CALL Volume:
Strike	OI	OI Change	Volume
57,200	3,67,710	51,730	81,215
57,000	10,51,855	-4,480	79,994
Top PUT Open Interest:
Strike	OI	OI Change	Volume
56,000	21,74,095	34,020	42,291
57,000	13,44,735	-16,170	1,00,695
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
57,900	72,765	53,725	3,316
56,000	21,74,095	34,020	42,291
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
53,000	6,87,715	-89,985	19,773
54,000	5,32,455	-54,775	21,356
Top PUT Volume:
Strike	OI	OI Change	Volume
57,000	13,44,735	-16,170	1,00,695
57,200	2,59,070	-36,610	83,847

FINNIFTY Monthly Expiry (31/07/2025)

The FINNIFTY index closed at 27058.45. The FINNIFTY monthly expiry for JULY 31, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 1.003 against previous 0.870. The 28000CE option holds the maximum open interest, followed by the 27500CE and 25000PE options. Market participants have shown increased interest with significant open interest additions in the 25000PE option, with open interest additions also seen in the 26000PE and 26500PE options. On the other hand, open interest reductions were prominent in the 27500CE, 26900CE, and 27400CE options. Trading volume was highest in the 27500CE option, followed by the 27000CE and 27000PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
27,058.45	1.003	0.870	0.849
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	8,30,765	8,24,980	5,785
PUT:	8,32,975	7,17,405	1,15,570
Top CALL Open Interest:
Strike	OI	OI Change	Volume
28,000	1,12,385	9,490	2,300
27,500	89,700	-17,030	4,953
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
28,000	1,12,385	9,490	2,300
29,500	32,890	8,970	391
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,500	89,700	-17,030	4,953
26,900	15,080	-6,695	1,058
Top CALL Volume:
Strike	OI	OI Change	Volume
27,500	89,700	-17,030	4,953
27,000	63,700	-1,755	4,538
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	87,425	36,400	2,401
27,000	70,720	7,735	4,442
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,000	87,425	36,400	2,401
26,000	50,895	19,110	1,719
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,400	1,300	-3,055	103
23,000	34,905	-2,405	308
Top PUT Volume:
Strike	OI	OI Change	Volume
27,000	70,720	7,735	4,442
25,000	87,425	36,400	2,401

MIDCPNIFTY Monthly Expiry (31/07/2025)

The MIDCPNIFTY index closed at 13291.85. The MIDCPNIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.782 against previous 0.869. The 14000CE option holds the maximum open interest, followed by the 13500CE and 14500CE options. Market participants have shown increased interest with significant open interest additions in the 13500CE option, with open interest additions also seen in the 13700CE and 13400CE options. On the other hand, open interest reductions were prominent in the 68500PE, 78500CE, and 78500PE options. Trading volume was highest in the 13500CE option, followed by the 13400CE and 13700CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,291.85	0.782	0.869	0.658
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	64,69,540	54,92,340	9,77,200
PUT:	50,59,320	47,73,160	2,86,160
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	9,47,660	51,240	7,383
13,500	8,45,180	1,86,760	14,568
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,500	8,45,180	1,86,760	14,568
13,700	3,47,900	1,52,880	12,613
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,250	30,240	-3,080	369
14,800	2,48,080	-2,660	1,124
Top CALL Volume:
Strike	OI	OI Change	Volume
13,500	8,45,180	1,86,760	14,568
13,400	4,03,200	1,12,700	12,744
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	6,90,340	20,440	5,167
12,500	4,37,360	18,760	4,120
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,400	3,72,680	93,100	11,768
11,500	2,25,540	50,680	1,146
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,000	4,22,380	-43,120	1,586
13,325	16,100	-14,980	3,069
Top PUT Volume:
Strike	OI	OI Change	Volume
13,400	3,72,680	93,100	11,768
13,300	2,17,280	8,540	8,737

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, with expiry pressures and global cues keeping traders on edge. For Nifty, the 25,400–25,500 zone is the pivot—expect choppy action as both call and put writers battle for control. A break below 25,400 could open the door to 25,200, while a move above 25,600 may trigger short-covering toward 25,800. BankNifty’s 57,000–57,500 range remains crucial, with strong resistance at higher strikes and support at 56,000. For actionable trades, neutral strategies like iron condors or straddles around max pain are favored, or quick directional plays on a break of 25,400 or 25,600. Keep an eye on sectoral divergences—FINNIFTY’s renewed put writing and MIDCPNIFTY’s weakness could offer tactical opportunities. As expiry approaches, this Open Interest Volume Analysis will be your best guide for navigating volatility and positioning for the next decisive move.

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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