NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 21/08/2025

The Open Interest Volume Analysis for 21st August 2025 shows a market taking a well-earned breather after hitting fresh highs, with expiry week volatility beginning to cool. Nifty August futures finished at 25,122.50, up just 0.16%, even as open interest dropped sharply by 5.6%—a strong signal of profit-booking and position unwinding heading into the monthly expiry. The premium ticked slightly higher, hinting that traders are still gently hedging for potential swings but aren’t eager to take on fresh risk. Nifty’s options landscape echoes this mood: while the monthly Put-Call Ratio (OI) eased down to 1.004, max pain now sits at 25,050—a practical anchor given the stack of puts and calls at and just above this level. Heavy call writing at 26,000 and solid put building at 24,000 and 25,000 reinforces the idea that the market will likely drift sideways, with moves capped in both directions until rollover and expiry pressures pass.

Other key indices reflect a similar theme. BankNifty August futures gained 0.13% with a marginal dip in open interest, its option chain still crowded around the 57,000 resistance zone and support at the 56,000 mark. FINNIFTY posted stable action, with a 4.2% OI drop as old longs exit and new positions wait until expiry volatility shakes out. MIDCPNIFTY underperformed, sliding 0.57% as traders locked in profits after a strong run. SENSEX, meanwhile, saw renewed buying interest—both price and OI bounced up, suggesting some rotational flow is headed toward largecaps as funds prep for the next cycle.

NSE & BSE F&O Market Signals

NIFTY AUGUST Future

NIFTY Spot closed at: 25,083.75 (0.13%)

NIFTY AUGUST Future closed at: 25,122.50 (0.16%)

Premium: 38.75 (Increased by 6 points)

Open Interest Change: -5.6%

Volume Change: 1.3%

NIFTY Monthly Expiry (28/08/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.004 (Decreased from 1.114)

Put-Call Ratio (Volume): 0.916

Max Pain Level: 25050

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26000

Highest PUT Addition: 25100

BANKNIFTY AUGUST Future

BANKNIFTY Spot closed at: 55,755.45 (0.10%)

BANKNIFTY AUGUST Future closed at: 55,890.00 (0.13%)

Premium: 134.55 (Increased by 17.45 points)

Open Interest Change: -0.6%

Volume Change: 18.9%

BANKNIFTY Monthly Expiry  (28/08/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.703 (Decreased from 0.711)

Put-Call Ratio (Volume): 0.830

Max Pain Level: 56000

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 57000

Highest CALL Addition: 56000

Highest PUT Addition: 55800

FINNIFTY AUGUST Future

FINNIFTY Spot closed at: 26,573.35 (0.32%)

FINNIFTY AUGUST Future closed at: 26,632.60 (0.31%)

Premium:  59.25 (Decreased by -2.45 points)

Open Interest Change: -4.2%

Volume Change: -22.6%

FINNIFTY Monthly Expiry  (28/08/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.831 (Increased from 0.762)

Put-Call Ratio (Volume): 0.600

Max Pain Level: 26550

Maximum CALL Open Interest: 26600

Maximum PUT Open Interest: 26500

Highest CALL Addition: 26800

Highest PUT Addition: 26600

MIDCPNIFTY AUGUST Future

MIDCPNIFTY Spot closed at: 12,921.35 (-0.60%)

MIDCPNIFTY AUGUST Future closed at: 12,949.40 (-0.57%)

Premium: 28.05 (Increased by 4 points)

Open Interest Change: -0.1%

Volume Change: 34.7%

MIDCPNIFTY Monthly Expiry  (28/08/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.034 (Decreased from 1.338)

Put-Call Ratio (Volume): 1.005

Max Pain Level: 12900

Maximum CALL Open Interest: 13000

Maximum PUT Open Interest: 12800

Highest CALL Addition: 13000

Highest PUT Addition: 12700

SENSEX Monthly Expiry (24/08/2025) Future

SENSEX Spot closed at: 82,000.71 (0.17%)

SENSEX Monthly Future closed at: 82,106.75 (0.21%)

Premium: 106.04 (Increased by 27.98 points)

Open Interest Change: 6.4%

Volume Change: 8.9%

SENSEX Weekly Expiry (26/08/2025) Option Analysis

Put-Call Ratio (OI): 1.145 (Decreased from 1.373)

Put-Call Ratio (Volume): 0.934

Max Pain Level: 82000

Maximum CALL OI: 85000

Maximum PUT OI: 79000

Highest CALL Addition: 85000

Highest PUT Addition: 79000

II & DII Cash Market Activity

FIIs Net BUY: ₹ 1,246.51 Cr
DIIs Net BUY: ₹ 2,546.27 Cr

FII Derivatives Activity

FII Trading Stats	21.08.25	20.08.25	19.08.25
FII Cash (Provisional Data)	1,246.51	-1,100.09	-634.26
Index Future Open Interest Long Ratio	10.46%	9.90%	9.71%
Index Future Volume Long Ratio	56.67%	46.50%	49.35%
Call Option Open Interest Long Ratio	48.69%	47.65%	49.14%
Call Option Volume Long Ratio	49.88%	49.78%	50.20%
Put Option Open Interest Long Ratio	70.94%	61.57%	66.65%
Put Option Volume Long Ratio	50.17%	49.46%	50.11%
Stock Future Open Interest Long Ratio	62.12%	62.28%	62.41%
Stock Future Volume Long Ratio	48.73%	49.20%	53.18%
Index Futures	Short Covering	Fresh Short	Fresh Short
Index Options	Short Covering	Fresh Short	Fresh Long
Nifty Futures	Short Covering	Fresh Short	Fresh Short
Nifty Options	Short Covering	Fresh Short	Fresh Long
BankNifty Futures	Short Covering	Fresh Short	Short Covering
BankNifty Options	Fresh Short	Fresh Short	Fresh Short
FinNifty Futures	Fresh Short	Long Covering	Fresh Short
FinNifty Options	Fresh Long	Short Covering	Fresh Long
MidcpNifty Futures	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Options	Fresh Short	Fresh Long	Fresh Short
NiftyNxt50 Futures	Long Covering	Short Covering	Short Covering
NiftyNxt50 Options	Fresh Long	Fresh Short	Fresh Long
Stock Futures	Fresh Short	Fresh Short	Fresh Long
Stock Options	Fresh Long	Fresh Long	Fresh Short

Fresh Long: increase in open interest and increase in price
Fresh Short: increase in open interest and decrease in price
Short Covering: decrease in open interest and increase in price
Long Covering: decrease in open interest and decrease in price

NSE & BSE Option market Trends : Options Insights

SENSEX Weekly Expiry (26/08/2025)

The SENSEX index closed at 82000.71. The SENSEX weekly expiry for AUGUST 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.145 against previous 1.373. The 79000PE option holds the maximum open interest, followed by the 85000CE and 80000PE options. Market participants have shown increased interest with significant open interest additions in the 79000PE option, with open interest additions also seen in the 85000CE and 82000PE options. On the other hand, open interest reductions were prominent in the 79900PE, 81800CE, and 81500CE options. Trading volume was highest in the 82000PE option, followed by the 82000CE and 82200CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	26-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
82000.71	1.145	1.373	0.934
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,25,31,560	62,08,460	63,23,100
PUT:	1,43,42,680	85,23,960	58,18,720
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85000	11,05,760	6,43,920	40,17,060
84000	9,27,340	5,00,720	56,22,440
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
85000	11,05,760	6,43,920	40,17,060
83500	8,09,960	5,18,600	47,94,560
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
81800	93,220	-56,420	26,47,780
81500	2,84,480	-53,720	11,48,620
Top CALL Volume:
Strike	OI	OI Change	Volume
82000	6,91,200	2,80,320	1,51,90,660
82200	4,03,320	3,11,580	1,20,89,780
Top PUT Open Interest:
Strike	OI	OI Change	Volume
79000	11,47,920	6,56,920	49,69,460
80000	10,14,300	5,09,900	49,81,880
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
79000	11,47,920	6,56,920	49,69,460
82000	8,64,140	5,48,320	1,63,66,460
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
79900	1,00,220	-71,000	9,61,820
79300	91,640	-43,220	8,03,420
Top PUT Volume:
Strike	OI	OI Change	Volume
82000	8,64,140	5,48,320	1,63,66,460
82100	3,59,540	3,22,660	1,07,86,800

NIFTY Monthly Expiry (28/08/2025)

The NIFTY index closed at 25083.75. The NIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.004 against previous 1.114. The 26000CE option holds the maximum open interest, followed by the 25000PE and 25500CE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 25600CE and 25100PE options. On the other hand, open interest reductions were prominent in the 25000CE, 23600PE, and 22800PE options. Trading volume was highest in the 25100CE option, followed by the 25300CE and 25100PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,083.75	1.004	1.114	0.916
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	9,47,60,100	6,44,48,925	3,03,11,175
PUT:	9,50,96,850	7,17,73,125	2,33,23,725
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	1,09,15,725	38,00,025	2,50,985
25,500	81,70,275	19,50,375	4,11,898
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	1,09,15,725	38,00,025	2,50,985
25,600	43,05,075	27,18,375	1,90,398
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	59,93,400	-2,58,075	2,70,343
24,950	3,14,850	-1,45,050	22,872
Top CALL Volume:
Strike	OI	OI Change	Volume
25,100	47,14,500	17,18,850	5,82,824
25,300	48,62,100	15,00,375	5,24,002
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	84,01,350	19,14,150	4,72,048
24,000	72,53,025	9,63,300	2,27,022
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,100	38,36,925	20,63,325	5,11,504
25,000	84,01,350	19,14,150	4,72,048
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,600	5,01,000	-1,53,300	33,067
22,800	15,35,775	-1,47,900	16,266
Top PUT Volume:
Strike	OI	OI Change	Volume
25,100	38,36,925	20,63,325	5,11,504
25,000	84,01,350	19,14,150	4,72,048

BANKNIFTY Monthly Expiry (28/08/2025)

The BANKNIFTY index closed at 55755.45. The BANKNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.703 against previous 0.711. The 57000CE 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 55800PE option, with open interest additions also seen in the 56000CE and 55900CE options. On the other hand, open interest reductions were prominent in the 55700CE, 54500PE, and 53500PE options. Trading volume was highest in the 56000CE option, followed by the 55800CE and 56000PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
55,755.45	0.703	0.711	0.830
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,19,42,655	2,05,91,865	13,50,790
PUT:	1,54,24,185	1,46,34,305	7,89,880
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	24,78,840	72,030	1,24,622
56,000	20,42,705	2,22,495	2,98,405
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
56,000	20,42,705	2,22,495	2,98,405
55,900	4,87,725	1,72,585	1,76,124
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
55,700	3,40,655	-1,06,820	1,30,215
58,200	64,995	-54,145	6,110
Top CALL Volume:
Strike	OI	OI Change	Volume
56,000	20,42,705	2,22,495	2,98,405
55,800	6,44,980	57,225	2,15,909
Top PUT Open Interest:
Strike	OI	OI Change	Volume
57,000	12,69,555	-17,605	5,494
56,000	12,52,685	1,44,235	2,07,203
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
55,800	6,40,045	2,26,625	2,02,596
55,500	11,71,345	1,65,760	1,29,218
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
54,500	5,51,600	-99,400	45,945
53,500	4,23,955	-89,950	43,171
Top PUT Volume:
Strike	OI	OI Change	Volume
56,000	12,52,685	1,44,235	2,07,203
55,800	6,40,045	2,26,625	2,02,596

FINNIFTY Monthly Expiry (28/08/2025)

The FINNIFTY index closed at 26573.35. The FINNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.831 against previous 0.762. The 26600CE option holds the maximum open interest, followed by the 27000CE and 26500PE options. Market participants have shown increased interest with significant open interest additions in the 26800CE option, with open interest additions also seen in the 26600CE and 26600PE options. On the other hand, open interest reductions were prominent in the 26500CE, 26450PE, and 25000PE options. Trading volume was highest in the 26800CE option, followed by the 26600CE and 26600PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,573.35	0.831	0.762	0.600
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	15,09,430	14,09,980	99,450
PUT:	12,54,370	10,74,190	1,80,180
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,600	1,53,335	46,995	10,808
27,000	1,49,630	-10,270	9,280
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,800	1,47,160	52,390	21,627
26,600	1,53,335	46,995	10,808
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,500	1,03,415	-36,335	4,541
27,000	1,49,630	-10,270	9,280
Top CALL Volume:
Strike	OI	OI Change	Volume
26,800	1,47,160	52,390	21,627
26,600	1,53,335	46,995	10,808
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,500	1,48,005	7,085	6,885
25,500	1,29,935	21,125	1,643
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,600	1,15,375	36,270	9,483
26,300	49,400	26,000	2,567
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,450	19,110	-13,910	1,365
25,000	61,295	-11,765	1,448
Top PUT Volume:
Strike	OI	OI Change	Volume
26,600	1,15,375	36,270	9,483
26,500	1,48,005	7,085	6,885

MIDCPNIFTY Monthly Expiry (28/08/2025)

The MIDCPNIFTY index closed at 12921.35. The MIDCPNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.034 against previous 1.338. The 13000CE option holds the maximum open interest, followed by the 13500CE and 12800PE options. Market participants have shown increased interest with significant open interest additions in the 13000CE option, with open interest additions also seen in the 12700PE and 13050CE options. On the other hand, open interest reductions were prominent in the 67000CE, 66500PE, and 66600PE 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:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,921.35	1.034	1.338	1.005
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	94,48,180	77,86,380	16,61,800
PUT:	97,70,740	1,04,15,860	-6,45,120
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,000	11,29,800	3,89,200	76,009
13,500	9,08,740	55,020	20,421
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,000	11,29,800	3,89,200	76,009
13,050	3,02,260	2,30,440	25,419
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
12,000	58,940	-97,160	1,090
12,800	2,57,180	-77,000	4,497
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	11,29,800	3,89,200	76,009
13,100	5,49,780	1,24,320	45,243
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,800	8,47,420	1,62,120	27,730
13,000	7,73,500	-1,55,400	56,476
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,700	6,96,080	3,36,700	21,454
12,800	8,47,420	1,62,120	27,730
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,000	7,55,580	-1,77,240	10,714
12,500	7,28,140	-1,69,680	24,014
Top PUT Volume:
Strike	OI	OI Change	Volume
13,000	7,73,500	-1,55,400	56,476
12,900	5,09,460	-59,220	38,890

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

Today’s Open Interest Volume Analysis makes it clear that expiry jitters and profit-taking have taken center stage, helping the market set an important near-term top. For Nifty, the 25,000–25,100 band is set to remain the expiry magnet; traders are likely to keep things range-bound with iron condors, calendar spreads, or credit spreads around these strikes being the best bets through expiry. A strong move above 25,200 with rising open interest would be an early sign that fresh buyers are jumping in, but otherwise, expect time decay and premium erosion to reward conservative, range-based trading until rollover flow begins.

In BankNifty, keep a close watch on open interest and premium behavior at 56,000–57,000—any surge in OI alongside price would mark the next bout of momentum. In FINNIFTY and MIDCPNIFTY, wait for new OI trends after expiry clears, as these pockets are likely to lead the next cycle if fresh money comes back. Let this Open Interest Volume Analysis guide your risk and strategy—trade lighter through expiry, and stay ready to reposition quickly as the market shows its hand in the final week of August.

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FII / FPI trading activity in Capital Market Segment

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