NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 15/07/2025

The Open Interest Volume Analysis for 15th July 2025 shows the market trying to shake off its recent weakness but still stuck in a battle zone. Nifty July futures closed at 25,265.60, up 0.39%, but with open interest drifting lower by 0.3% and volume down 18%, signaling more of a short-covering bounce than a strong new trend. The premium narrowed further, and weekly option data shows the Put-Call Ratio (OI) climbing to 0.76 from dangerously oversold levels, thanks to heavy put additions at 25,200. Max pain for the weekly expiry has shifted slightly upward to 25,200—which is also where the highest put open interest sits, making this zone the market’s latest center of gravity. On the monthly front, the PCR has nudged above 1 for the first time in days, but with the highest call and put additions both at 25,200, traders are clearly jockeying for position around the same range. BankNifty also participated in the bounce, with a 0.4% future gain and a healthy 3% OI add, while new open interest at 56,500+ hints at selective risk-taking ahead of results season.

MIDCPNIFTY and FINNIFTY reflected sectoral divergence—midcaps led by a 1.3% spot rally, while FINNIFTY wound up just 0.45% higher but with rising OI and a still-cautious 0.86 PCR, showing that financial traders prefer hedged bets for now. SENSEX futures soared in both open interest (+44.8%) and volume (+182%), but all major indices still saw premium contraction, a sign that traders remain wary of chasing the market higher without seeing a clear breakout first.

NSE & BSE F&O Market Signals

NIFTY JUNE Future

NIFTY Spot closed at: 25,195.80 (0.45%)

NIFTY JULY Future closed at: 25,265.60 (0.39%)

Premium: 69.8 (Decreased by -15.4 points)

Open Interest Change: -0.3%

Volume Change: -18.0%

NIFTY Weekly Expiry (17/07/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.760 (Increased from 0.542)

Put-Call Ratio (Volume): 0.805

Max Pain Level: 25200

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26000

Highest PUT Addition: 25200

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

Put-Call Ratio (Open Interest): 1.024 (Increased from 1.018)

Put-Call Ratio (Volume): 0.897

Max Pain Level: 25250

Maximum CALL Open Interest: 25500

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25200

Highest PUT Addition: 25200

BANKNIFTY JULY Future

BANKNIFTY Spot closed at: 57,006.65 (0.43%)

BANKNIFTY JULY Future closed at: 57,232.60 (0.40%)

Premium: 225.95 (Decreased by -11.3 points)

Open Interest Change: 3.0%

Volume Change: 25.6%

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

Put-Call Ratio (Open Interest): 0.846 (Increased from 0.810)

Put-Call Ratio (Volume): 0.805

Max Pain Level: 56800

Maximum CALL Open Interest: 56000

Maximum PUT Open Interest: 56000

Highest CALL Addition: 58500

Highest PUT Addition: 56500

FINNIFTY JULY Future

FINNIFTY Spot closed at: 26,928.95 (0.47%)

FINNIFTY JULY Future closed at: 27,032.40 (0.45%)

Premium:  103.45 (Decreased by -5.5 points)

Open Interest Change: 1.8%

Volume Change: 3.8%

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

Put-Call Ratio (Open Interest): 0.863 (Increased from 0.745)

Put-Call Ratio (Volume): 1.090

Max Pain Level: 27000

Maximum CALL Open Interest: 28000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 27600

Highest PUT Addition: 26900

MIDCPNIFTY JULY Future

MIDCPNIFTY Spot closed at: 13,342.05 (1.31%)

MIDCPNIFTY JULY Future closed at: 13,380.10 (1.27%)

Premium: 38.05 (Decreased by -4.7 points)

Open Interest Change: 0.1%

Volume Change: -24.7%

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

Put-Call Ratio (Open Interest): 0.925 (Increased from 0.817)

Put-Call Ratio (Volume): 0.958

Max Pain Level: 13300

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 14200

Highest PUT Addition: 13300

SENSEX Weekly Expiry (22/07/2025) Future

SENSEX Spot closed at: 82,570.91 (0.39%)

SENSEX Weekly Future closed at: 82,707.95 (0.30%)

Premium: 137.04 (Decreased by -67.05 points)

Open Interest Change: 44.8%

Volume Change: 182.7%

SENSEX Weekly Expiry (22/07/2025) Option Analysis

Put-Call Ratio (OI): 0.857 (Increased from 0.779)

Put-Call Ratio (Volume): 0.798

Max Pain Level: 82500

Maximum CALL OI: 82500

Maximum PUT OI: 82500

Highest CALL Addition: 82500

Highest PUT Addition: 82500

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 120.47 Cr
DIIs Net BUY: ₹ 1,555.03 Cr

FII Derivatives Activity

FII Trading Stats	15.07.25	14.07.25	11.07.25
FII Cash (Provisional Data)	120.47	-1,614.32	-5,104.22
Index Future Open Interest Long Ratio	18.67%	18.31%	20.22%
Index Future Volume Long Ratio	48.54%	31.76%	29.02%
Call Option Open Interest Long Ratio	50.42%	48.90%	50.63%
Call Option Volume Long Ratio	50.27%	49.65%	49.43%
Put Option Open Interest Long Ratio	59.71%	60.11%	62.13%
Put Option Volume Long Ratio	50.01%	49.63%	50.27%
Stock Future Open Interest Long Ratio	62.88%	62.87%	62.92%
Stock Future Volume Long Ratio	50.29%	50.00%	47.10%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Fresh Long	Fresh Short	Fresh Short
Nifty Futures	Fresh Short	Fresh Short	Fresh Short
Nifty Options	Fresh Long	Fresh Short	Fresh Short
BankNifty Futures	Fresh Short	Fresh Short	Fresh Short
BankNifty Options	Fresh Short	Fresh Short	Fresh Long
FinNifty Futures	Fresh Short	Fresh Short	Short Covering
FinNifty Options	Fresh Long	Fresh Short	Fresh Long
MidcpNifty Futures	Fresh Long	Fresh Short	Long Covering
MidcpNifty Options	Fresh Short	Fresh Short	Long Covering
NiftyNxt50 Futures	Short Covering	Short Covering	Long Covering
NiftyNxt50 Options	Fresh Short	Short Covering	Fresh Long
Stock Futures	Fresh Long	Fresh Short	Long Covering
Stock Options	Fresh Short	Short Covering	Short Covering

NSE & BSE Option market Trends : Options Insights

NIFTY weekly Expiry (17/07/2025)

The NIFTY index closed at 25195.8. The NIFTY weekly expiry for JULY 17, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.760 against previous 0.542. The 26000CE option holds the maximum open interest, followed by the 25500CE and 25000PE options. Market participants have shown increased interest with significant open interest additions in the 25200PE option, with open interest additions also seen in the 25100PE and 25150PE options. On the other hand, open interest reductions were prominent in the 25100CE, 25800CE, and 26500CE options. Trading volume was highest in the 25200CE option, followed by the 25200PE and 25100PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	17-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,195.80	0.760	0.542	0.805
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	16,55,59,725	18,18,96,600	-1,63,36,875
PUT:	12,58,64,925	9,85,64,850	2,73,00,075
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	1,24,56,375	13,92,150	9,99,703
25,500	1,18,39,725	-5,80,725	17,60,060
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	1,24,56,375	13,92,150	9,99,703
25,200	97,36,350	8,72,100	42,27,434
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,100	28,81,575	-27,93,225	23,39,162
25,800	61,58,025	-23,60,250	11,48,194
Top CALL Volume:
Strike	OI	OI Change	Volume
25,200	97,36,350	8,72,100	42,27,434
25,300	85,65,150	-14,23,425	28,79,771
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	1,05,05,550	18,69,375	21,42,686
25,200	89,82,825	57,96,975	34,13,762
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,200	89,82,825	57,96,975	34,13,762
25,100	84,89,475	37,04,850	31,83,370
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	62,36,100	-13,71,375	4,40,339
24,100	11,14,500	-10,86,825	1,78,126
Top PUT Volume:
Strike	OI	OI Change	Volume
25,200	89,82,825	57,96,975	34,13,762
25,100	84,89,475	37,04,850	31,83,370

SENSEX weekly Expiry (15/07/2025)

The SENSEX index closed at 82570.91. The SENSEX weekly expiry for JULY 22, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.857 against previous 0.779. The 82500PE option holds the maximum open interest, followed by the 82500CE and 85000CE options. Market participants have shown increased interest with significant open interest additions in the 82500PE option, with open interest additions also seen in the 82500CE and 85000CE options. On the other hand, open interest reductions were prominent in the 82200CE, 89900CE, and 81100CE options. Trading volume was highest in the 82500PE option, followed by the 82500CE and 85000CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	22-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
82570.91	0.857	0.779	0.798
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	27,31,340	7,78,869	19,52,471
PUT:	23,40,700	6,06,420	17,34,280
Top CALL Open Interest:
Strike	OI	OI Change	Volume
82500	3,13,260	2,48,220	15,77,280
85000	2,98,760	2,15,360	10,72,620
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
82500	3,13,260	2,48,220	15,77,280
85000	2,98,760	2,15,360	10,72,620
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
82200	8,540	-680	71,240
89900	1,920	-640	3,940
Top CALL Volume:
Strike	OI	OI Change	Volume
82500	3,13,260	2,48,220	15,77,280
85000	2,98,760	2,15,360	10,72,620
Top PUT Open Interest:
Strike	OI	OI Change	Volume
82500	4,10,580	3,44,380	16,97,620
80000	2,22,660	1,56,860	7,93,340
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
82500	4,10,580	3,44,380	16,97,620
80000	2,22,660	1,56,860	7,93,340
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
83600	12,060	-20	4,420
–	–	–	–
Top PUT Volume:
Strike	OI	OI Change	Volume
82500	4,10,580	3,44,380	16,97,620
81000	1,88,980	1,24,720	8,36,720

NIFTY Monthly Expiry (31/07/2025)

The NIFTY index closed at 25195.8. The NIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.024 against previous 1.018. The 25000PE option holds the maximum open interest, followed by the 25500CE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 25200PE option, with open interest additions also seen in the 25200CE and 24400PE options. On the other hand, open interest reductions were prominent in the 25500CE, 25000CE, and 24500PE options. Trading volume was highest in the 25000PE option, followed by the 25500CE and 26000CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,195.80	1.024	1.018	0.897
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,32,93,825	4,40,33,100	-7,39,275
PUT:	4,43,30,925	4,48,24,350	-4,93,425
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,500	50,52,150	-3,16,725	74,926
26,000	47,28,225	84,375	57,478
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,200	13,80,375	2,44,050	56,515
26,000	47,28,225	84,375	57,478
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,500	50,52,150	-3,16,725	74,926
25,000	33,38,100	-3,13,425	35,589
Top CALL Volume:
Strike	OI	OI Change	Volume
25,500	50,52,150	-3,16,725	74,926
26,000	47,28,225	84,375	57,478
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	59,91,750	-1,62,375	77,595
24,500	31,42,125	-2,99,700	41,899
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,200	15,11,100	2,78,850	52,535
24,400	8,72,550	1,00,500	13,449
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	31,42,125	-2,99,700	41,899
24,800	17,84,025	-2,08,350	27,117
Top PUT Volume:
Strike	OI	OI Change	Volume
25,000	59,91,750	-1,62,375	77,595
25,200	15,11,100	2,78,850	52,535

BANKNIFTY Monthly Expiry (31/07/2025)

The BANKNIFTY index closed at 57006.65. The BANKNIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.846 against previous 0.810. 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 58500CE option, with open interest additions also seen in the 56500PE and 46000PE options. On the other hand, open interest reductions were prominent in the 59000CE, 62000CE, and 56800CE options. Trading volume was highest in the 57000CE option, followed by the 57000PE and 57500CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,006.65	0.846	0.810	0.805
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,70,99,460	1,72,35,409	-1,35,949
PUT:	1,44,58,920	1,39,64,055	4,94,865
Top CALL Open Interest:
Strike	OI	OI Change	Volume
56,000	13,76,760	-7,105	10,023
57,000	12,34,870	-49,000	1,68,773
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
58,500	6,44,245	1,20,750	42,861
57,100	3,10,205	88,060	71,668
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
59,000	9,25,400	-1,48,295	47,666
62,000	4,30,535	-1,03,670	17,986
Top CALL Volume:
Strike	OI	OI Change	Volume
57,000	12,34,870	-49,000	1,68,773
57,500	9,96,590	-61,600	74,106
Top PUT Open Interest:
Strike	OI	OI Change	Volume
56,000	22,36,430	60,795	57,122
57,000	11,62,315	33,320	1,53,497
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
56,500	7,78,540	1,13,365	60,304
46,000	6,17,645	1,09,305	15,275
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
53,800	33,040	-49,070	5,298
55,500	4,57,940	-47,495	29,368
Top PUT Volume:
Strike	OI	OI Change	Volume
57,000	11,62,315	33,320	1,53,497
57,100	1,66,740	53,130	64,068

FINNIFTY Monthly Expiry (31/07/2025)

The FINNIFTY index closed at 26928.95. The FINNIFTY monthly expiry for JULY 31, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.863 against previous 0.745. The 28000CE option holds the maximum open interest, followed by the 28500CE and 27500CE options. Market participants have shown increased interest with significant open interest additions in the 26900PE option, with open interest additions also seen in the 26700PE and 27000PE options. On the other hand, open interest reductions were prominent in the 28500CE, 26300PE, and 28200CE options. Trading volume was highest in the 26900PE option, followed by the 26700PE and 27000CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,928.95	0.863	0.745	1.090
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	10,39,415	10,34,475	4,940
PUT:	8,96,870	7,70,185	1,26,685
Top CALL Open Interest:
Strike	OI	OI Change	Volume
28,000	1,13,425	8,775	1,339
28,500	1,10,955	-28,145	953
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,600	19,825	12,805	572
26,900	33,865	8,970	3,120
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
28,500	1,10,955	-28,145	953
28,200	14,105	-8,385	353
Top CALL Volume:
Strike	OI	OI Change	Volume
27,000	92,885	8,060	4,169
27,500	1,01,725	-975	3,227
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	82,940	17,290	680
27,000	65,260	19,435	2,099
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,900	54,600	38,675	5,628
26,700	51,220	33,605	4,557
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,300	23,465	-9,360	283
27,050	4,550	-7,215	340
Top PUT Volume:
Strike	OI	OI Change	Volume
26,900	54,600	38,675	5,628
26,700	51,220	33,605	4,557

MIDCPNIFTY Monthly Expiry (31/07/2025)

The MIDCPNIFTY index closed at 13342.05. The MIDCPNIFTY monthly expiry for JULY 31, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.925 against previous 0.817. The 14000CE option holds the maximum open interest, followed by the 14500CE and 13500CE options. Market participants have shown increased interest with significant open interest additions in the 13300PE option, with open interest additions also seen in the 13200PE and 12800PE options. On the other hand, open interest reductions were prominent in the 68400PE, 66000PE, and 69100PE options. Trading volume was highest in the 13300CE option, followed by the 13500CE and 13200CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	31-07-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,342.05	0.925	0.817	0.958
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	72,89,380	77,02,800	-4,13,420
PUT:	67,41,000	62,96,640	4,44,360
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	10,67,500	-45,220	6,085
14,500	8,06,820	-2,240	2,188
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,200	4,03,620	48,300	1,367
14,300	50,540	44,940	611
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,500	7,96,180	-1,38,600	13,871
13,200	1,88,300	-1,00,660	13,224
Top CALL Volume:
Strike	OI	OI Change	Volume
13,300	2,55,500	-420	18,050
13,500	7,96,180	-1,38,600	13,871
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	6,89,920	-44,520	11,580
12,500	5,15,900	-34,160	6,430
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,300	3,92,980	1,97,400	10,242
13,200	3,25,500	1,16,200	13,053
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,700	2,75,660	-69,440	4,845
12,200	1,47,560	-54,460	2,052
Top PUT Volume:
Strike	OI	OI Change	Volume
13,200	3,25,500	1,16,200	13,053
13,000	6,89,920	-44,520	11,580

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 an inflection point. For Nifty, the 25,200–25,265 zone is the battleground: max pain, heaviest OI change, and biggest call and put additions are all converging here. If Nifty can decisively hold above 25,200, we could see a squeeze up to 25,400–25,500 where stacked call writers could be forced to cover. On the flip side, a rejection at 25,265 or sharp move below 25,200 may trigger another round of profit-booking and a retest of 25,000—where the put wall remains intact.

For actionable trades, consider neutral or range-bound strategies like iron condors or short straddles around 25,200 until a clear breakout emerges. If momentum builds, traders can look for quick moves above 25,300 for upside targets or below 25,170 for downside. In BankNifty, eyes should stay on the 56,800–57,300 range: a break above 57,300 could open up the 58,000 level, while strong put additions at 56,500 reaffirm it as support. Keep monitoring sector leaders—midcap OI uptick and SENSEX’s surging activity suggest that any upside move could be led by broader participation.

As the week unfolds, this Open Interest Volume Analysis will be invaluable for navigating the next move. Staying nimble, focusing on max pain pivots, and watching for sudden OI changes across indices remain your best edge in the current environment.

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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