NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 10/11/2025

NIFTY’s Open Interest Volume Analysis reveals short covering phase: Combined open interest remains flat (0.00%) as prices recover, indicating bears are unwinding positions rather than building fresh shorts.

November futures show ongoing short covering while December contracts hint fresh long: A minor open interest drop in November versus a rise in December signals a transition—old shorts are exiting while new bulls selectively enter farther series.

Premiums expand, supporting return of the bulls: Rising futures premiums reinforce cautious optimism; market makers are pricing in more upside with volatility expected to decrease.

Options sentiment neutralizes: Weekly and monthly put-call ratios edge closer to 1 (PCR 0.969 weekly, 0.986 monthly), showing a more balanced risk between calls and puts and hinting at a shift toward range-bound stability.

Max pain hovers at current levels: Major option open interest at 25600 (weekly) and 25800 (monthly) keeps most traders looking for consolidation near resistance/inflection points.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25574.35 (0.322%)

Combined = November + December + January

Combined Fut Open Interest Change: 0.00%

Combined Fut Volume Change: -47.74%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 8% Previous 8%

NIFTY NOVEMBER Future closed at: 25694.5 (0.412%)

November Fut Premium 120.15 (Increased by 23.25 points)

November Fut Open Interest Change: -0.09%

November Fut Volume Change: -46.96%

November Fut Open Interest Analysis: Short Covering

NIFTY DECEMBER Future closed at: 25882.9 (0.398%)

December Fut Premium 308.55 (Increased by 20.65 points)

December Fut Open Interest Change: 0.63%

December Fut Volume Change: -57.95%

December Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (11/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.969 (Increased from 0.884)

Put-Call Ratio (Volume): 0.959

Max Pain Level: 25600

Maximum CALL Open Interest: 25700

Maximum PUT Open Interest: 25500

Highest CALL Addition: 25650

Highest PUT Addition: 25500

NIFTY Monthly Expiry (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.986 (Increased from 0.952)

Put-Call Ratio (Volume): 0.790

Max Pain Level: 25800

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26200

Highest PUT Addition: 25300

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57937.55 (0.105%)

Combined = November + December + January

Combined Fut Open Interest Change: 7.43%

Combined Fut Volume Change: -53.42%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 9% Previous 9%

BANKNIFTY NOVEMBER Future closed at: 58252.2 (0.121%)

November Fut Premium 314.65 (Increased by 9.85 points)

November Fut Open Interest Change: 8.0%

November Fut Volume Change: -52.3%

November Fut Open Interest Analysis: Fresh Long

BANKNIFTY DECEMBER Future closed at: 58612.6 (0.122%)

December Fut Premium 675.05 (Increased by 10.85 points)

December Fut Open Interest Change: -0.09%

December Fut Volume Change: -62.78%

December Fut Open Interest Analysis: Short Covering

BANKNIFTY Monthly Expiry  (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.919 (Increased from 0.911)

Put-Call Ratio (Volume): 0.900

Max Pain Level: 58000

Maximum CALL Open Interest: 58000

Maximum PUT Open Interest: 58000

Highest CALL Addition: 58600

Highest PUT Addition: 58500

FINNIFTY Future Analysis

FINNIFTY Spot closed at: 27305.05 (0.243%)

Combined = November + December + January

Combined Fut Open Interest Change: -0.2%

Combined Fut Volume Change: -41.4%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 2% Previous 3%

FINNIFTY NOVEMBER Future closed at: 27446.1 (0.234%)

November Fut Premium 141.05 (Decreased by -2.2 points)

November Fut Open Interest Change: 0.17%

November Fut Volume Change: -41.39%

November Fut Open Interest Analysis: Fresh Long

FINNIFTY DECEMBER Future closed at: 27611.8 (0.224%)

December Fut Premium 306.75 (Decreased by -4.7 points)

December Fut Open Interest Change: -11.76%

December Fut Volume Change: -33.33%

December Fut Open Interest Analysis: Short Covering

FINNIFTY Monthly Expiry  (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.927 (Increased from 0.911)

Put-Call Ratio (Volume): 0.922

Max Pain Level: 27300

Maximum CALL Open Interest: 27500

Maximum PUT Open Interest: 27000

Highest CALL Addition: 27300

Highest PUT Addition: 27400

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13527.4 (0.600%)

Combined = November + December + January

Combined Fut Open Interest Change: 3.37%

Combined Fut Volume Change: -44.64%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 3% Previous 3%

MIDCPNIFTY NOVEMBER Future closed at: 13588.65 (0.866%)

November Fut Premium 61.25 (Increased by 36 points)

November Fut Open Interest Change: 3.49%

November Fut Volume Change: -47.03%

November Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY DECEMBER Future closed at: 13646.85 (0.840%)

December Fut Premium 119.45 (Increased by 33 points)

December Fut Open Interest Change: -0.75%

December Fut Volume Change: 16.02%

December Fut Open Interest Analysis: Short Covering

MIDCPNIFTY Monthly Expiry  (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.057 (Increased from 1.033)

Put-Call Ratio (Volume): 1.009

Max Pain Level: 13500

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13500

Highest CALL Addition: 13600

Highest PUT Addition: 13300

SENSEX Monthly Expiry (27/11/2025) Future

SENSEX Spot closed at: 83,535.35 (0.383%)

SENSEX Monthly Future closed at: 84,005.65 (0.409%)

Premium: 470.3 (Increased by 23.28 points)

Open Interest Change: -9.55%

Volume Change: -38.36%

Open Interest Analysis: Short Covering

SENSEX Weekly Expiry (13/11/2025) Option Analysis

Put-Call Ratio (OI): 1.214 (Increased from 1.123)

Put-Call Ratio (Volume): 0.918

Max Pain Level: 83500

Maximum CALL OI: 87000

Maximum PUT OI: 80000

Highest CALL Addition: 86000

Highest PUT Addition: 80000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 4,114.85 Cr.
DIIs Net BUY: ₹ 5,805.26 Cr.

FII Derivatives Activity

FII Trading Stats	10.11.25	7.11.25	6.11.25
FII Cash (Provisional Data)	-4,114.85	4,581.34	-3,263.21
Index Future Open Interest Long Ratio	13.02%	13.22%	14.29%
Index Future Volume Long Ratio	36.82%	33.16%	44.57%
Call Option Open Interest Long Ratio	49.50%	50.55%	48.94%
Call Option Volume Long Ratio	49.85%	50.19%	49.71%
Put Option Open Interest Long Ratio	60.46%	62.66%	63.55%
Put Option Volume Long Ratio	49.86%	50.18%	50.01%
Stock Future Open Interest Long Ratio	60.52%	60.51%	60.76%
Stock Future Volume Long Ratio	49.90%	48.27%	49.22%
Index Futures	Fresh Short	Fresh Short	Long Covering
Index Options	Fresh Short	Fresh Long	Fresh Short
Nifty Futures	Fresh Short	Fresh Short	Long Covering
Nifty Options	Fresh Short	Fresh Long	Fresh Short
BankNifty Futures	Fresh Short	Short Covering	Long Covering
BankNifty Options	Fresh Short	Fresh Short	Fresh Short
FinNifty Futures	Fresh Short	Fresh Long	Fresh Short
FinNifty Options	Fresh Long	Long Covering	Fresh Short
MidcpNifty Futures	Fresh Long	Fresh Short	Fresh Long
MidcpNifty Options	Long Covering	Fresh Long	Fresh Short
NiftyNxt50 Futures	Long Covering	Fresh Short	Long Covering
NiftyNxt50 Options	Fresh Long	Fresh Long	Fresh Short
Stock Futures	Fresh Long	Fresh Short	Long Covering
Stock Options	Fresh Short	Fresh Short	Fresh 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

NSE & BSE Option market Trends : Options Insights

SENSEX Weekly Expiry (13/11/2025)

The SENSEX index closed at 83535.35. The SENSEX weekly expiry for NOVEMBER 13, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.214 against previous 1.123. The 80000PE option holds the maximum open interest, followed by the 87000CE and 83500PE options. Market participants have shown increased interest with significant open interest additions in the 80000PE option, with open interest additions also seen in the 83500PE and 80500PE options. On the other hand, open interest reductions were prominent in the 78000PE, 83300CE, and 81700PE options. Trading volume was highest in the 83500PE option, followed by the 83500CE and 83700CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	13-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
83535.35	1.214	1.123	0.918
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,09,54,280	81,52,200	28,02,080
PUT:	1,33,00,740	91,58,200	41,42,540
Top CALL Open Interest:
Strike	OI	OI Change	Volume
87000	7,37,380	52,380	30,60,160
86000	6,98,920	3,34,500	52,20,420
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
86000	6,98,920	3,34,500	52,20,420
83700	3,59,400	2,29,500	1,67,84,980
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
83300	1,33,560	-1,58,900	45,33,100
83000	2,39,160	-96,980	20,09,200
Top CALL Volume:
Strike	OI	OI Change	Volume
83500	5,69,600	80,760	1,84,67,960
83700	3,59,400	2,29,500	1,67,84,980
Top PUT Open Interest:
Strike	OI	OI Change	Volume
80000	10,51,560	5,42,080	40,92,420
83500	7,36,860	4,34,260	1,93,20,340
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
80000	10,51,560	5,42,080	40,92,420
83500	7,36,860	4,34,260	1,93,20,340
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
78000	2,91,180	-2,27,700	19,54,160
81700	1,49,780	-1,12,700	20,08,020
Top PUT Volume:
Strike	OI	OI Change	Volume
83500	7,36,860	4,34,260	1,93,20,340
83600	2,73,260	2,03,320	1,50,07,760

NIFTY Weekly Expiry (11/11/2025)

The NIFTY index closed at 25574.35. The NIFTY weekly expiry for NOVEMBER 11, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.969 against previous 0.884. The 25700CE option holds the maximum open interest, followed by the 25500PE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 25500PE option, with open interest additions also seen in the 25550PE and 25600PE options. On the other hand, open interest reductions were prominent in the 27000CE, 25500CE, and 24500PE options. Trading volume was highest in the 25600CE option, followed by the 25600PE and 25650CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	11-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,574.35	0.969	0.884	0.959
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	18,50,74,950	18,42,03,375	8,71,575
PUT:	17,92,99,200	16,28,61,000	1,64,38,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,700	1,56,00,225	50,07,525	73,85,525
26,000	1,34,55,750	-16,41,450	28,82,113
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,650	1,06,37,175	52,11,600	76,82,086
25,700	1,56,00,225	50,07,525	73,85,525
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,000	42,46,275	-41,91,000	2,94,647
25,500	42,60,600	-40,45,950	31,63,866
Top CALL Volume:
Strike	OI	OI Change	Volume
25,600	1,07,63,250	11,21,700	95,48,582
25,650	1,06,37,175	52,11,600	76,82,086
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,500	1,36,76,025	63,21,600	66,89,366
25,000	1,33,16,550	20,10,600	14,72,259
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,500	1,36,76,025	63,21,600	66,89,366
25,550	78,30,525	60,08,400	61,02,281
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	62,28,450	-27,47,550	9,36,130
25,200	68,08,575	-25,96,950	13,21,011
Top PUT Volume:
Strike	OI	OI Change	Volume
25,600	96,42,975	55,55,550	93,63,009
25,500	1,36,76,025	63,21,600	66,89,366

NIFTY Monthly Expiry (25/11/2025)

The NIFTY index closed at 25574.35. The NIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.986 against previous 0.952. The 26000CE option holds the maximum open interest, followed by the 25000PE and 26000PE options. Market participants have shown increased interest with significant open interest additions in the 26200CE option, with open interest additions also seen in the 25300PE and 25700CE options. On the other hand, open interest reductions were prominent in the 27000CE, 25500CE, and 26000CE options. Trading volume was highest in the 26000CE option, followed by the 25500PE and 25000PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,574.35	0.986	0.952	0.790
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,79,02,800	4,73,81,025	5,21,775
PUT:	4,72,15,800	4,51,26,675	20,89,125
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	70,18,500	-2,28,000	1,01,195
26,500	36,41,700	79,650	46,639
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,200	31,49,550	6,08,400	42,554
25,700	21,00,975	3,62,250	49,826
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,000	35,65,200	-3,24,150	43,163
25,500	22,70,100	-2,74,500	51,268
Top CALL Volume:
Strike	OI	OI Change	Volume
26,000	70,18,500	-2,28,000	1,01,195
25,600	13,55,100	66,825	52,490
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	47,01,675	42,450	68,638
26,000	41,67,000	61,200	19,606
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,300	16,97,925	5,49,000	38,336
25,700	17,54,175	3,06,900	37,799
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	20,68,125	-31,350	12,852
26,300	5,20,575	-25,275	1,074
Top PUT Volume:
Strike	OI	OI Change	Volume
25,500	39,67,050	51,300	68,657
25,000	47,01,675	42,450	68,638

BANKNIFTY Monthly Expiry (25/11/2025)

The BANKNIFTY index closed at 57937.55. The BANKNIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.919 against previous 0.911. The 58000CE option holds the maximum open interest, followed by the 58000PE and 58500CE options. Market participants have shown increased interest with significant open interest additions in the 58500PE option, with open interest additions also seen in the 58600CE and 59300CE options. On the other hand, open interest reductions were prominent in the 57800CE, 62500CE, and 57700CE options. Trading volume was highest in the 58000PE option, followed by the 58000CE and 58500CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,937.55	0.919	0.911	0.900
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,52,99,095	1,43,14,755	9,84,340
PUT:	1,40,59,675	1,30,38,095	10,21,580
Top CALL Open Interest:
Strike	OI	OI Change	Volume
58,000	15,80,355	50,855	1,70,819
58,500	14,61,285	1,19,805	95,199
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
58,600	3,21,720	1,92,255	31,736
59,300	2,99,425	1,87,740	21,967
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
57,800	1,28,380	-49,910	32,525
62,500	2,08,145	-35,875	5,775
Top CALL Volume:
Strike	OI	OI Change	Volume
58,000	15,80,355	50,855	1,70,819
58,500	14,61,285	1,19,805	95,199
Top PUT Open Interest:
Strike	OI	OI Change	Volume
58,000	15,04,965	-11,970	1,90,770
58,500	14,20,405	4,53,845	49,099
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
58,500	14,20,405	4,53,845	49,099
56,900	2,60,645	1,83,680	17,258
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
53,000	2,84,340	-19,215	6,776
57,200	2,01,180	-14,000	15,116
Top PUT Volume:
Strike	OI	OI Change	Volume
58,000	15,04,965	-11,970	1,90,770
57,900	2,07,690	44,765	56,163

FINNIFTY Monthly Expiry (25/11/2025)

The FINNIFTY index closed at 27305.05. The FINNIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.927 against previous 0.911. The 27500CE option holds the maximum open interest, followed by the 28500CE and 27000PE options. Market participants have shown increased interest with significant open interest additions in the 27400PE option, with open interest additions also seen in the 27000PE and 27300CE options. On the other hand, open interest reductions were prominent in the 25500PE, 29000CE, and 29000CE options. Trading volume was highest in the 27300CE option, followed by the 27300PE and 27400CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
27,305.05	0.927	0.911	0.922
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,67,420	6,67,160	260
PUT:	6,18,670	6,07,815	10,855
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,500	92,105	4,225	2,030
28,500	87,295	520	429
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,300	48,295	6,370	2,610
27,500	92,105	4,225	2,030
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
29,000	43,810	-4,550	250
27,600	20,865	-2,405	658
Top CALL Volume:
Strike	OI	OI Change	Volume
27,300	48,295	6,370	2,610
27,400	40,560	2,340	2,093
Top PUT Open Interest:
Strike	OI	OI Change	Volume
27,000	64,415	8,580	1,091
25,500	62,335	-7,280	276
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
27,400	22,035	9,100	1,319
27,000	64,415	8,580	1,091
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,500	62,335	-7,280	276
26,500	50,570	-4,550	587
Top PUT Volume:
Strike	OI	OI Change	Volume
27,300	33,475	3,900	2,407
27,400	22,035	9,100	1,319

MIDCPNIFTY Monthly Expiry (25/11/2025)

The MIDCPNIFTY index closed at 13527.4. The MIDCPNIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.057 against previous 1.033. The 14000CE option holds the maximum open interest, followed by the 13500PE and 13300PE options. Market participants have shown increased interest with significant open interest additions in the 13600CE option, with open interest additions also seen in the 13300PE and 14100CE options. On the other hand, open interest reductions were prominent in the 69500CE, 63500PE, and 63500CE options. Trading volume was highest in the 13500CE option, followed by the 13500PE and 13600CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,527.40	1.057	1.033	1.009
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	67,48,840	66,54,200	94,640
PUT:	71,30,900	68,72,880	2,58,020
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	10,46,500	57,960	12,171
13,500	5,76,520	-1,84,660	18,016
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,600	5,47,400	93,100	12,327
14,100	2,17,560	72,940	3,854
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,500	5,76,520	-1,84,660	18,016
13,400	4,65,920	-75,040	3,335
Top CALL Volume:
Strike	OI	OI Change	Volume
13,500	5,76,520	-1,84,660	18,016
13,600	5,47,400	93,100	12,327
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,500	7,92,680	61,600	17,019
13,300	7,76,860	75,880	7,374
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,300	7,76,860	75,880	7,374
13,600	2,38,700	61,600	4,834
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,900	2,23,440	-1,04,160	5,274
13,000	5,84,780	-41,020	11,461
Top PUT Volume:
Strike	OI	OI Change	Volume
13,500	7,92,680	61,600	17,019
13,000	5,84,780	-41,020	11,461

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

Short covering dominates, signs of selective long build-up in out-month contracts: Open Interest Volume Analysis favors range-trading or careful swing longs in NIFTY around option support and max pain levels.

Actionable feedback: Consider tactical long setups in NIFTY with tight stops below max pain (25600–25800) and confirm with rising OI in December futures before building aggressive positions.

BankNIFTY and MIDCPNIFTY bullish cues: BankNIFTY shows healthy fresh long build-up, and MIDCPNIFTY continues outperformance—these sectors may offer better relative risk/reward for swing trades.

Monitor options PCR for a breakout trigger: A sustained move above 1 in PCR will be the first sign of momentum shifting decisively to the bulls; until then, play for consolidation.

Stay flexible: Open Interest Volume Analysis supports range trading until a clear OI surge or sentiment swing breaks the current sideways-to-bullish bias.

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