NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 22/08/2025

The Open Interest Volume Analysis for 22nd August 2025 reveals a clear risk-off mood as the market heads into the final stretch before expiry. Nifty August futures slid 0.89% to 24,898.20, while open interest tumbled by 5.6%, marking a significant round of position unwinding and profit booking. The premium narrowed by nearly 11 points, underscoring fading upside conviction. On the options front, the Put-Call Ratio (OI) collapsed to a weak 0.61, with heavy call writing at the 25,000 strike and new puts only slightly defending 24,900—showing bears are gradually taking charge and positioning for a possible test of lower support. Max pain has now drifted to 24,950, making it the key expiry anchor for the coming week.

BankNifty showed an even sharper contrast: futures lost more than 1%, but open interest actually rose over 3.5%, clearly suggesting fresh short positions as bears increase their grip on financials. Put-Call ratios here also dropped sharply, with 57,000 call OI vastly outnumbering put support—setting up for more near-term turbulence. FINNIFTY echoed Nifty’s story, falling by nearly 1% as open interest fell and premium stayed near recent highs; here too, put-call ratios slipped and max pain sits at 26,500. MIDCPNIFTY managed to stay flat but open interest shrank, a signal that the recent outperformance in midcaps may pause as expiry and volatility spike. SENSEX reflected the overall nervousness, posting a 0.85% fall along with a dip in open interest, showing broader caution and rotation ahead of monthly settlement.

NSE & BSE F&O Market Signals

NIFTY AUGUST Future

NIFTY Spot closed at: 24,870.10 (-0.85%)

NIFTY AUGUST Future closed at: 24,898.20 (-0.89%)

Premium: 28.1 (Decreased by -10.65 points)

Open Interest Change: -5.6%

Volume Change: 30.3%

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

Put-Call Ratio (Open Interest): 0.610 (Decreased from 1.004)

Put-Call Ratio (Volume): 0.980

Max Pain Level: 24950

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25000

Highest PUT Addition: 24900

BANKNIFTY AUGUST Future

BANKNIFTY Spot closed at: 55,149.40 (-1.09%)

BANKNIFTY AUGUST Future closed at: 55,270.60 (-1.11%)

Premium: 121.2 (Decreased by -13.35 points)

Open Interest Change: 3.5%

Volume Change: 69.3%

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

Put-Call Ratio (Open Interest): 0.522 (Decreased from 0.703)

Put-Call Ratio (Volume): 0.931

Max Pain Level: 55500

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 57000

Highest CALL Addition: 55500

Highest PUT Addition: 54000

FINNIFTY AUGUST Future

FINNIFTY Spot closed at: 26,317.05 (-0.96%)

FINNIFTY AUGUST Future closed at: 26,377.50 (-0.96%)

Premium:  60.45 (Increased by 1.2 points)

Open Interest Change: -3.2%

Volume Change: 96.5%

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

Put-Call Ratio (Open Interest): 0.674 (Decreased from 0.831)

Put-Call Ratio (Volume): 0.942

Max Pain Level: 26500

Maximum CALL Open Interest: 26500

Maximum PUT Open Interest: 26500

Highest CALL Addition: 26500

Highest PUT Addition: 26400

MIDCPNIFTY AUGUST Future

MIDCPNIFTY Spot closed at: 12,935.80 (0.11%)

MIDCPNIFTY AUGUST Future closed at: 12,945.90 (-0.03%)

Premium: 10.1 (Decreased by -17.95 points)

Open Interest Change: -7.0%

Volume Change: 31.1%

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

Put-Call Ratio (Open Interest): 1.030 (Decreased from 1.034)

Put-Call Ratio (Volume): 0.972

Max Pain Level: 12925

Maximum CALL Open Interest: 13000

Maximum PUT Open Interest: 12800

Highest CALL Addition: 13100

Highest PUT Addition: 12900

SENSEX Monthly Expiry (24/08/2025) Future

SENSEX Spot closed at: 81,306.85 (-0.85%)

SENSEX Monthly Future closed at: 81,409.25 (-0.85%)

Premium: 102.4 (Decreased by -3.64 points)

Open Interest Change: -2.5%

Volume Change: 25.4%

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

Put-Call Ratio (OI): 0.637 (Decreased from 1.145)

Put-Call Ratio (Volume): 1.134

Max Pain Level: 81500

Maximum CALL OI: 83000

Maximum PUT OI: 80000

Highest CALL Addition: 83000

Highest PUT Addition: 80000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,622.52 Cr
DIIs Net SELL: ₹ 329.25 Cr

FII Derivatives Activity

FII Trading Stats	22.08.25	21.08.25	20.08.25
FII Cash (Provisional Data)	-1,622.52	1,246.51	-1,100.09
Index Future Open Interest Long Ratio	10.70%	10.46%	9.90%
Index Future Volume Long Ratio	46.25%	56.67%	46.50%
Call Option Open Interest Long Ratio	46.38%	48.69%	47.65%
Call Option Volume Long Ratio	49.35%	49.88%	49.78%
Put Option Open Interest Long Ratio	69.35%	70.94%	61.57%
Put Option Volume Long Ratio	50.48%	50.17%	49.46%
Stock Future Open Interest Long Ratio	61.85%	62.12%	62.28%
Stock Future Volume Long Ratio	49.63%	48.73%	49.20%
Index Futures	Fresh Short	Short Covering	Fresh Short
Index Options	Fresh Short	Short Covering	Fresh Short
Nifty Futures	Fresh Short	Short Covering	Fresh Short
Nifty Options	Fresh Long	Short Covering	Fresh Short
BankNifty Futures	Fresh Short	Short Covering	Fresh Short
BankNifty Options	Fresh Short	Fresh Short	Fresh Short
FinNifty Futures	Long Covering	Fresh Short	Long Covering
FinNifty Options	Fresh Short	Fresh Long	Short Covering
MidcpNifty Futures	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Options	Fresh Short	Fresh Short	Fresh Long
NiftyNxt50 Futures	Short Covering	Long Covering	Short Covering
NiftyNxt50 Options	Fresh Short	Fresh Long	Fresh Short
Stock Futures	Long Covering	Fresh Short	Fresh Short
Stock Options	Short Covering	Fresh Long	Fresh Long

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 81306.85. The SENSEX weekly expiry for AUGUST 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.637 against previous 1.145. The 83000CE option holds the maximum open interest, followed by the 82000CE and 84000CE options. Market participants have shown increased interest with significant open interest additions in the 83000CE option, with open interest additions also seen in the 81500CE and 82000CE options. On the other hand, open interest reductions were prominent in the 82000PE, 82100PE, and 79500PE options. Trading volume was highest in the 81500PE option, followed by the 81000PE and 82000CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	26-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81306.85	0.637	1.145	1.134
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,08,64,880	1,25,31,560	83,33,320
PUT:	1,32,80,780	1,43,42,680	-10,61,900
Top CALL Open Interest:
Strike	OI	OI Change	Volume
83000	15,31,540	8,20,280	1,63,34,220
82000	12,96,140	6,04,940	3,51,37,760
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
83000	15,31,540	8,20,280	1,63,34,220
81500	9,48,120	6,63,640	3,37,63,400
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
85000	9,03,920	-2,01,840	73,67,620
83900	1,35,660	-76,580	21,16,040
Top CALL Volume:
Strike	OI	OI Change	Volume
82000	12,96,140	6,04,940	3,51,37,760
81500	9,48,120	6,63,640	3,37,63,400
Top PUT Open Interest:
Strike	OI	OI Change	Volume
80000	12,04,720	1,90,420	1,58,71,420
79000	11,36,820	-11,100	83,12,480
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
80000	12,04,720	1,90,420	1,58,71,420
81300	3,39,460	1,42,020	2,45,15,320
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
82000	3,68,040	-4,96,100	1,14,84,560
82100	77,400	-2,82,140	25,42,120
Top PUT Volume:
Strike	OI	OI Change	Volume
81500	6,94,440	-1,20,020	4,97,33,460
81000	6,73,560	57,400	3,78,13,480

NIFTY Monthly Expiry (28/08/2025)

The NIFTY index closed at 24870.1. The NIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.610 against previous 1.004. The 25000CE option holds the maximum open interest, followed by the 26000CE and 25100CE options. Market participants have shown increased interest with significant open interest additions in the 25000CE option, with open interest additions also seen in the 24900CE and 25100CE options. On the other hand, open interest reductions were prominent in the 25100PE, 25000PE, and 24150PE options. Trading volume was highest in the 24900PE option, followed by the 25000CE and 25000PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,870.10	0.610	1.004	0.980
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	19,01,66,475	9,47,60,100	9,54,06,375
PUT:	11,60,44,125	9,50,96,850	2,09,47,275
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	1,73,76,825	1,13,83,425	34,48,788
26,000	1,52,83,350	43,67,625	7,88,852
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,000	1,73,76,825	1,13,83,425	34,48,788
24,900	75,75,225	64,86,975	20,81,234
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
23,000	6,51,525	-1,84,725	2,867
24,000	5,57,325	-83,400	4,347
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	1,73,76,825	1,13,83,425	34,48,788
24,900	75,75,225	64,86,975	20,81,234
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	80,98,275	8,45,250	5,11,274
25,000	73,34,775	-10,66,575	29,28,028
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,900	64,49,100	26,72,175	36,53,440
24,400	44,65,500	21,80,625	5,02,735
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,100	26,72,025	-11,64,900	9,36,185
25,000	73,34,775	-10,66,575	29,28,028
Top PUT Volume:
Strike	OI	OI Change	Volume
24,900	64,49,100	26,72,175	36,53,440
25,000	73,34,775	-10,66,575	29,28,028

BANKNIFTY Monthly Expiry (28/08/2025)

The BANKNIFTY index closed at 55149.4. The BANKNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.522 against previous 0.703. The 57000CE option holds the maximum open interest, followed by the 56000CE and 55500CE options. Market participants have shown increased interest with significant open interest additions in the 55500CE option, with open interest additions also seen in the 56000CE and 55300CE options. On the other hand, open interest reductions were prominent in the 55800PE, 56000PE, and 55500PE options. Trading volume was highest in the 55000PE option, followed by the 55500PE and 55500CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
55,149.40	0.522	0.703	0.931
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,86,08,790	2,19,42,655	66,66,135
PUT:	1,49,34,115	1,54,24,185	-4,90,070
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	26,03,300	1,24,460	1,76,861
56,000	25,95,530	5,52,825	3,24,664
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
55,500	16,47,485	9,39,085	3,41,015
56,000	25,95,530	5,52,825	3,24,664
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
58,700	79,660	-1,95,335	24,867
57,400	1,19,735	-35,840	20,289
Top CALL Volume:
Strike	OI	OI Change	Volume
55,500	16,47,485	9,39,085	3,41,015
56,000	25,95,530	5,52,825	3,24,664
Top PUT Open Interest:
Strike	OI	OI Change	Volume
57,000	12,00,920	-68,635	5,323
55,000	10,84,790	6,090	4,08,754
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
54,000	10,01,840	1,49,625	1,42,862
53,500	5,32,175	1,08,220	60,976
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
55,800	2,88,995	-3,51,050	93,542
56,000	9,70,550	-2,82,135	90,829
Top PUT Volume:
Strike	OI	OI Change	Volume
55,000	10,84,790	6,090	4,08,754
55,500	9,55,745	-2,15,600	3,52,274

FINNIFTY Monthly Expiry (28/08/2025)

The FINNIFTY index closed at 26317.05. The FINNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.674 against previous 0.831. The 26500CE option holds the maximum open interest, followed by the 27000CE and 26800CE options. Market participants have shown increased interest with significant open interest additions in the 26500CE option, with open interest additions also seen in the 27300CE and 26700CE options. On the other hand, open interest reductions were prominent in the 26600PE, 27900CE, and 27800CE options. Trading volume was highest in the 26700CE option, followed by the 26300PE and 26500CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,317.05	0.674	0.831	0.942
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	20,92,220	15,09,430	5,82,790
PUT:	14,10,370	12,54,370	1,56,000
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,500	2,38,030	1,34,615	17,889
27,000	2,35,495	85,865	9,362
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,500	2,38,030	1,34,615	17,889
27,300	1,29,415	98,670	5,507
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,900	66,170	-53,235	2,984
27,800	12,805	-16,965	1,484
Top CALL Volume:
Strike	OI	OI Change	Volume
26,700	1,77,580	89,115	23,297
26,500	2,38,030	1,34,615	17,889
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,500	1,53,335	5,330	12,896
25,500	1,22,135	-7,800	3,749
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,400	1,01,660	49,595	17,600
26,350	41,535	29,965	11,708
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,600	45,045	-70,330	5,791
26,550	12,220	-8,255	1,501
Top PUT Volume:
Strike	OI	OI Change	Volume
26,300	71,565	22,165	19,207
26,400	1,01,660	49,595	17,600

MIDCPNIFTY Monthly Expiry (28/08/2025)

The MIDCPNIFTY index closed at 12935.8. The MIDCPNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.030 against previous 1.034. The 13000CE option holds the maximum open interest, followed by the 12800PE and 13100CE options. Market participants have shown increased interest with significant open interest additions in the 13100CE option, with open interest additions also seen in the 12900PE and 12800PE options. On the other hand, open interest reductions were prominent in the 68400CE, 68400CE, and 67000CE options. Trading volume was highest in the 13000CE option, followed by the 12900PE and 12950CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,935.80	1.030	1.034	0.972
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,02,17,620	94,48,180	7,69,440
PUT:	1,05,20,160	97,70,740	7,49,420
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,000	12,99,620	1,69,820	89,451
13,100	9,81,540	4,31,760	41,709
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,100	9,81,540	4,31,760	41,709
13,000	12,99,620	1,69,820	89,451
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,800	2,87,140	-1,69,960	3,105
13,400	4,63,680	-82,460	14,735
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	12,99,620	1,69,820	89,451
12,950	2,58,020	32,760	47,367
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,800	10,76,600	2,29,180	42,017
13,000	8,43,080	69,580	44,342
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,900	8,22,640	3,13,180	73,073
12,800	10,76,600	2,29,180	42,017
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,000	6,24,540	-1,31,040	5,600
12,300	1,96,280	-79,380	6,428
Top PUT Volume:
Strike	OI	OI Change	Volume
12,900	8,22,640	3,13,180	73,073
12,950	2,32,680	1,02,900	46,488

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

This session’s Open Interest Volume Analysis signals that sellers are back in control as traders lock in profits and avoid new risk heading into expiry. For Nifty, expect expiry action to center around the 24,900–25,000 zone, with further downside likely if 24,900 consistently gives way—look to bear call spreads and credit call strategies above 25,000 as the preferred play. BankNifty is flashing even stronger warning signs—stay defensive until open interest and put support start to revive. In FINNIFTY and MIDCPNIFTY, keep positions light and take profits actively as volatility and uncertain sentiment dominate. As the contract winds down, let this Open Interest Volume Analysis be your guide: focus on risk control, consider range and short-side setups, and be wary of chasing late upside in a market that’s turning cautious as expiry pressure mounts.

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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