NSE Indices Futures and Options Open Interest Volume Analysis for 6/10/2025

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Open Interest Volume Analysis

On 6th October 2025, Open Interest Volume Analysis across the combined futures contracts revealed a clear uptick in bullish spirit. Nifty’s combined open interest ticked up 1.8% as spot and futures prices moved higher, making it evident that traders are starting this week with a fresh long bias and not just riding on short covering. Rollover activity still hovers at a slow 7%, so the interest appears concentrated in new contracts rather than legacy positions.

In options, a powerful move was the jump in weekly PCR beyond 1.5, meaning there’s an influx of put writing at higher strikes, further emboldening the bulls and offering downside cushion. Bank Nifty’s combined futures OI on the other hand contracted by 3.3% alongside a surge in volumes, providing evidence of aggressive short covering.

The real story, however, is in Finnifty and Midcap Nifty—where combined OI declined sharply as price rallied, a classic case of trapped shorts being forced out and momentum shifting in buyers’ favor. Overall, today’s Open Interest Volume Analysis shows a broadening long bias but with evidence that financials and midcaps have more unwinding to complete before all segments are fully aligned.

NSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25077.65 (0.7%)

Combined = October + November + December

Combined Fut Open Interest Change: 1.8%

Combined Fut Volume Change: 21.9%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 7% Previous 6%

NIFTY OCTOBER Future closed at: 25185.4 (0.7%)

October Fut Premium 107.75 (Decreased by -4.6 points)

October Fut Open Interest Change: 1.6%

October Fut Volume Change: 20.8%

October Fut Open Interest Analysis: Fresh Long

NIFTY NOVEMBER Future closed at: 25314.2 (0.7%)

November Fut Premium 236.55 (Decreased by -6.6 points)

November Fut Open Interest Change: 2.9%

November Fut Volume Change: 38.1%

November Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (7/10/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.513 (Increased from 1.207)

Put-Call Ratio (Volume): 0.883

Max Pain Level: 25050

Maximum CALL Open Interest: 25200

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25200

Highest PUT Addition: 25000

NIFTY Monthly Expiry (28/10/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.015 (Decreased from 1.035)

Put-Call Ratio (Volume): 1.001

Max Pain Level: 25000

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25600

Highest PUT Addition: 24600

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 56104.85 (0.9%)

Combined = October + November + December

Combined Fut Open Interest Change: -3.3%

Combined Fut Volume Change: 29.9%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 9% Previous 9%

BANKNIFTY OCTOBER Future closed at: 56297.8 (0.8%)

October Fut Premium 192.95 (Decreased by -72 points)

October Fut Open Interest Change: -3.5%

October Fut Volume Change: 29.4%

October Fut Open Interest Analysis: Short Covering

BANKNIFTY NOVEMBER Future closed at: 56597.2 (0.8%)

November Fut Premium 492.35 (Decreased by -70.6 points)

November Fut Open Interest Change: -0.5%

November Fut Volume Change: 22.5%

November Fut Open Interest Analysis: Short Covering

BANKNIFTY Monthly Expiry  (28/10/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.099 (Decreased from 1.127)

Put-Call Ratio (Volume): 0.874

Max Pain Level: 55800

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 55000

Highest CALL Addition: 60000

Highest PUT Addition: 56000

FINNIFTY Future Analysis

FINNIFTY Spot closed at: 26712.05 (1.1%)

Combined = October + November + December

Combined Fut Open Interest Change: -12.1%

Combined Fut Volume Change: 139.7%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 3% Previous 3%

FINNIFTY OCTOBER Future closed at: 26798.6 (0.9%)

October Fut Premium 86.55 (Decreased by -36.4 points)

October Fut Open Interest Change: -12.0%

October Fut Volume Change: 146.4%

October Fut Open Interest Analysis: Short Covering

FINNIFTY NOVEMBER Future closed at: 26930 (0.9%)

November Fut Premium 217.95 (Decreased by -55.7 points)

November Fut Open Interest Change: -16.7%

November Fut Volume Change: 0.0%

November Fut Open Interest Analysis: Short Covering

FINNIFTY Monthly Expiry  (28/10/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.712 (Increased from 0.583)

Put-Call Ratio (Volume): 0.623

Max Pain Level: 26600

Maximum CALL Open Interest: 27000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 27200

Highest PUT Addition: 25000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 12944.95 (1.2%)

Combined = October + November + December

Combined Fut Open Interest Change: -0.9%

Combined Fut Volume Change: 23.4%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 3% Previous 3%

MIDCPNIFTY OCTOBER Future closed at: 13014.4 (1.2%)

October Fut Premium 69.45 (Decreased by -2.1 points)

October Fut Open Interest Change: -1.2%

October Fut Volume Change: 17.1%

October Fut Open Interest Analysis: Short Covering

MIDCPNIFTY NOVEMBER Future closed at: 13072.45 (1.2%)

November Fut Premium 127.5 (Increased by 5.55 points)

November Fut Open Interest Change: 7.7%

November Fut Volume Change: 189.0%

November Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry  (28/10/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.393 (Increased from 1.357)

Put-Call Ratio (Volume): 1.256

Max Pain Level: 12800

Maximum CALL Open Interest: 13500

Maximum PUT Open Interest: 12500

Highest CALL Addition: 13400

Highest PUT Addition: 12500

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 213.54 Cr.
DIIs Net BUY: ₹ 4,881.60 Cr.

FII Derivatives Activity

FII Trading Stats6.10.253.10.251.10.25
FII Cash (Provisional Data)-213.54-1,503.12-1,605.20
Index Future Open Interest Long Ratio7.08%6.73%6.80%
Index Future Volume Long Ratio38.17%29.81%48.91%
Call Option Open Interest Long Ratio51.46%49.73%48.99%
Call Option Volume Long Ratio50.17%50.08%50.44%
Put Option Open Interest Long Ratio61.56%62.77%66.17%
Put Option Volume Long Ratio49.95%50.07%50.08%
Stock Future Open Interest Long Ratio61.43%61.52%61.74%
Stock Future Volume Long Ratio49.24%47.53%49.42%
    
Index FuturesFresh ShortFresh ShortFresh Short
Index OptionsFresh LongFresh LongFresh Long
    
Nifty FuturesFresh ShortFresh ShortFresh Short
Nifty OptionsFresh LongFresh LongFresh Long
    
BankNifty FuturesShort CoveringFresh LongShort Covering
BankNifty OptionsFresh LongShort CoveringFresh Long
    
FinNifty FuturesShort CoveringFresh ShortFresh Short
FinNifty OptionsFresh ShortFresh ShortFresh Short
    
MidcpNifty FuturesFresh LongFresh LongFresh Long
MidcpNifty OptionsFresh LongFresh LongFresh Long
    
NiftyNxt50 FuturesFresh ShortFresh ShortFresh Short
NiftyNxt50 OptionsFresh LongFresh LongFresh Long
    
Stock FuturesFresh ShortFresh ShortFresh Short
Stock OptionsFresh LongFresh ShortFresh Long

Fresh Long: Net Buy with Increase in Open Interest
Fresh Short: Net Sell with Increase in Open Interest
Short Covering: Net Buy with Decrease in Open Interest
Long Covering: Net Sell with Decrease in Open Interest

NIFTY Weekly Expiry (7/10/2025)

The NIFTY index closed at 25077.65. The NIFTY weekly expiry for OCTOBER 7, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.513 against previous 1.207. The 25000PE option holds the maximum open interest, followed by the 24900PE and 25200CE options. Market participants have shown increased interest with significant open interest additions in the 25000PE option, with open interest additions also seen in the 24950PE and 25100PE options. On the other hand, open interest reductions were prominent in the 24900CE, 25000CE, and 26000CE options. Trading volume was highest in the 25000CE option, followed by the 25100CE and 25000PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:07-10-2025
 Index Spot PCR OI Prev PCR OI PCR VOL
         25,077.65                1.513                  1.207               0.883
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 14,89,12,950   16,69,75,125 -1,80,62,175
 PUT: 22,53,70,275   20,16,07,350   2,37,62,925
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,200    1,35,12,000         50,61,225       65,00,517
               25,100    1,22,83,500         33,80,400   1,03,90,235
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               25,200    1,35,12,000         50,61,225       65,00,517
               25,300    1,15,46,625         46,67,700       38,07,546
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,900       25,56,900        -72,89,625       44,74,941
               25,000       61,08,675        -66,33,225   1,04,97,791
 Top CALL Volume:
 Strike OI OI Change Volume
               25,000       61,08,675        -66,33,225   1,04,97,791
               25,100    1,22,83,500         33,80,400   1,03,90,235
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               25,000    1,71,71,175      1,35,95,550       86,37,415
               24,900    1,43,07,525         38,60,775       76,78,705
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               25,000    1,71,71,175      1,35,95,550       86,37,415
               24,950    1,00,46,250         83,20,575       62,49,451
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,000    1,10,19,525        -46,25,250       16,25,288
               24,550       38,79,450        -22,32,675         7,88,341
 Top PUT Volume: 
 Strike OI OI Change Volume
               25,000    1,71,71,175      1,35,95,550       86,37,415
               24,900    1,43,07,525         38,60,775       76,78,705

NIFTY Monthly Expiry (28/10/2025)

The NIFTY index closed at 25077.65. The NIFTY monthly expiry for OCTOBER 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.015 against previous 1.035. The 26000CE option holds the maximum open interest, followed by the 25500CE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 25600CE option, with open interest additions also seen in the 24600PE and 25700CE options. On the other hand, open interest reductions were prominent in the 24800CE, 25400CE, and 25000CE options. Trading volume was highest in the 25500CE option, followed by the 25000CE and 25000PE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:28-10-2025
 Index Spot PCR OI Prev PCR OI PCR VOL
         25,077.65                1.015                  1.035               1.001
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    4,43,67,825      4,37,84,325         5,83,500
 PUT:    4,50,23,925      4,53,22,800       -2,98,875
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               26,000       50,37,000            1,03,350             56,890
               25,500       49,73,700              -83,400         1,09,771
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               25,600       23,26,350         11,42,625             52,120
               25,700       13,34,475            3,50,325             33,475
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,800       20,49,225          -5,13,075             34,273
               25,400       12,01,650          -4,79,850             41,142
 Top CALL Volume:
 Strike OI OI Change Volume
               25,500       49,73,700              -83,400         1,09,771
               25,000       42,47,100          -4,18,650         1,02,728
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               25,000       42,22,950               78,225             94,604
               24,000       36,80,325          -1,18,725             55,682
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,600       25,31,100            6,13,950             57,890
               25,100          8,26,800            2,89,800             22,843
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,500       35,76,450          -3,95,925             64,968
               24,400       11,28,675          -3,70,725             30,997
 Top PUT Volume: 
 Strike OI OI Change Volume
               25,000       42,22,950               78,225             94,604
               24,500       35,76,450          -3,95,925             64,968

BANKNIFTY Monthly Expiry (28/10/2025)

The BANKNIFTY index closed at 56104.85. The BANKNIFTY monthly expiry for OCTOBER 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.099 against previous 1.127. The 57000CE option holds the maximum open interest, followed by the 55000PE and 54000PE options. Market participants have shown increased interest with significant open interest additions in the 56000PE option, with open interest additions also seen in the 54000PE and 60000CE options. On the other hand, open interest reductions were prominent in the 52500PE, 55500CE, and 53500PE options. Trading volume was highest in the 56000CE option, followed by the 56000PE and 57000CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:28-10-2025
 Index Spot PCR OI Prev PCR OI PCR VOL
         56,104.85                1.099                  1.127               0.874
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,43,20,320      1,30,84,295       12,36,025
 PUT:    1,57,39,360      1,47,47,215         9,92,145
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               57,000       21,44,065               34,335         1,10,523
               58,000       11,07,785               23,310             76,912
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               60,000          6,05,150            1,78,710             33,280
               59,500          2,74,190            1,49,695             22,206
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               55,500          5,97,310          -1,64,290             35,589
               55,600          1,47,700              -85,050             14,963
 Top CALL Volume:
 Strike OI OI Change Volume
               56,000       10,73,905              -17,850         1,68,663
               57,000       21,44,065               34,335         1,10,523
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               55,000       16,08,425            1,64,955             79,686
               54,000       13,87,295            1,90,155             71,777
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               56,000          8,63,240            3,48,810         1,47,194
               54,000       13,87,295            1,90,155             71,777
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               52,500          4,22,380          -2,41,115             34,182
               53,500          6,40,780          -1,21,555             38,712
 Top PUT Volume: 
 Strike OI OI Change Volume
               56,000          8,63,240            3,48,810         1,47,194
               55,000       16,08,425            1,64,955             79,686

FINNIFTY Monthly Expiry (28/10/2025)

The FINNIFTY index closed at 26712.05. The FINNIFTY monthly expiry for OCTOBER 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.712 against previous 0.583. The 27000CE option holds the maximum open interest, followed by the 25000PE and 27200CE options. Market participants have shown increased interest with significant open interest additions in the 27200CE option, with open interest additions also seen in the 25000PE and 27500CE options. On the other hand, open interest reductions were prominent in the 26800CE, 26000CE, and 26900CE options. Trading volume was highest in the 27000CE option, followed by the 26400PE and 26800CE options, indicating active trading in these strikes.

FINNIFTY Monthly Expiry:28-10-2025
 Index Spot PCR OI Prev PCR OI PCR VOL
         26,712.05                0.712                  0.583               0.623
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:          7,45,485            3,91,820         3,53,665
 PUT:          5,30,725            2,28,540         3,02,185
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               27,000          1,02,960               48,685             12,626
               27,200             88,075               88,010               1,536
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               27,200             88,075               88,010               1,536
               27,500             74,490               59,800               2,145
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               26,800             41,795              -46,345               4,345
               26,000             12,610                -2,145                     46
 Top CALL Volume:
 Strike OI OI Change Volume
               27,000          1,02,960               48,685             12,626
               26,800             41,795              -46,345               4,345
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               25,000             89,245               60,515               2,525
               26,400             56,485               39,000               4,371
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               25,000             89,245               60,515               2,525
               26,400             56,485               39,000               4,371
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,900                2,665                    -780                     89
               23,500                   910                      -65                       3
 Top PUT Volume:   
 Strike OI OI Change Volume
               26,400             56,485               39,000               4,371
               26,600             32,110               23,465               3,125

MIDCPNIFTY Monthly Expiry (28/10/2025)

The MIDCPNIFTY index closed at 12944.95. The MIDCPNIFTY monthly expiry for OCTOBER 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.393 against previous 1.357. The 12500PE option holds the maximum open interest, followed by the 13500CE and 12600PE options. Market participants have shown increased interest with significant open interest additions in the 12500PE option, with open interest additions also seen in the 12900PE and 12850PE options. On the other hand, open interest reductions were prominent in the 67900CE, 73200PE, and 73200CE options. Trading volume was highest in the 13000CE option, followed by the 12700PE and 12900CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:28-10-2025
 Index Spot PCR OI Prev PCR OI PCR VOL
         12,944.95                1.393                  1.357               1.256
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       42,24,640         40,06,240         2,18,400
 PUT:       58,85,600         54,34,520         4,51,080
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               13,500          6,01,580            1,17,600               9,290
               13,000          4,82,860              -31,360             12,590
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               13,400          3,43,560            1,22,640               6,394
               13,500          6,01,580            1,17,600               9,290
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               12,800          2,33,660              -97,860               6,441
               12,750          1,00,520              -76,440               1,001
 Top CALL Volume:
 Strike OI OI Change Volume
               13,000          4,82,860              -31,360             12,590
               12,900          1,47,420              -40,880             11,759
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               12,500          9,55,220            1,73,320               8,546
               12,600          5,11,560            1,04,720               5,681
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               12,500          9,55,220            1,73,320               8,546
               12,900          1,98,240            1,35,380               6,855
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               12,000          5,02,180          -3,44,820               8,874
               11,000             90,440          -2,45,000               3,794
 Top PUT Volume: 
 Strike OI OI Change Volume
               12,700          3,76,320                  6,580             12,458
               12,400          3,38,940            1,10,320               9,220

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

The setup for 6th October 2025 tells a nuanced story. While Nifty and its monthly contract show steady long build-up, Bank Nifty, Finnifty, and Midcap Nifty reflect that the move is propelled by rally-induced short covering rather than widespread accumulation—at least for now. The marked rise in weekly PCR for both Nifty and Midcap Nifty signals supportive put writing and a positive risk-reward for bulls, though cooling PCR in monthly options tempers runaway excitement.

Finnifty’s and Midcap’s interest remains tactical, driven by shorts being squeezed. For a true, sustainable upside, the Open Interest Volume Analysis suggests traders will need to see fresh long build-up in financials and broader market indices over the next few sessions. Until then, the market finds itself at an inflection point, powered by momentum but still seeking robust confirmation from all corners.

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

Disclaimer

fnodata.com is a financial blog providing research-based data and analysis. The content creator of the fnodata.com is not a SEBI registered Investment Advisor. The content on this blog is for informational purposes only and should not be considered as investment advice. You are responsible for your own investment decisions. You should consult with a financial advisor or conduct your own research before making any investment decisions.


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