NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 24/12/2025

Markets pulled back slightly today with NIFTY off 0.13% amid explosive volume, and this Open Interest Volume Analysis across combined futures reveals massive long covering dominating the action—profit-taking hits hard while January shorts signal caution ahead of year-end close.

NIFTY combined futures bleed longs aggressively: -1.49% OI drop on +20% volume surge screams profit booking after the rally, December hammered -7.78% while January loads fresh shorts (+31.49%)—bears positioning big.

Premiums mixed in thin flows: December steady, January compressing—theta decay accelerates as holiday positioning ramps.

PCR swings bullish tilt: Monthly eases to 0.913 with max pain 26,150—call dominance returns, hinting defense higher up.

BANKNIFTY covering fireworks: -4.62% combined OI plunge on +113% volume explosion shows banks unloading gains fast, January shorts piling in.

MIDCPNIFTY massive unwind: -5.67% combined OI with +256% volume roar marks panic profit-taking, discounts widening signals weakness.

SENSEX bear reload: +12.75% combined OI bucks trend with fresh shorts, countering broad covering narrative.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 26142.1 (-0.134%)

Combined = December + January + February

Combined Fut Open Interest Change: -1.49%

Combined Fut Volume Change: 20.44%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 24% Previous 19%

NIFTY DECEMBER Future closed at: 26173.1 (-0.129%)

December Fut Premium 31 (Increased by 1.25 points)

December Fut Open Interest Change: -7.78%

December Fut Volume Change: 7.39%

December Fut Open Interest Analysis: Long Covering

NIFTY JANUARY Future closed at: 26351.9 (-0.155%)

January Fut Premium 209.8 (Decreased by -5.85 points)

January Fut Open Interest Change: 31.49%

January Fut Volume Change: 62.60%

January Fut Open Interest Analysis: Fresh Short

NIFTY Monthly Expiry (30/12/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.913 (Decreased from 1.084)

Put-Call Ratio (Volume): 0.992

Max Pain Level: 26150

Maximum CALL Open Interest: 26200

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26200

Highest PUT Addition: 26000

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59183.6 (-0.196%)

Combined = December + January + February

Combined Fut Open Interest Change: -4.62%

Combined Fut Volume Change: 112.90%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 23% Previous 19%

BANKNIFTY DECEMBER Future closed at: 59253 (-0.260%)

December Fut Premium 69.4 (Decreased by -38.65 points)

December Fut Open Interest Change: -9.8%

December Fut Volume Change: 101.6%

December Fut Open Interest Analysis: Long Covering

BANKNIFTY JANUARY Future closed at: 59662.6 (-0.218%)

January Fut Premium 479 (Decreased by -14.65 points)

January Fut Open Interest Change: 19.61%

January Fut Volume Change: 177.19%

January Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (30/12/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.693 (Decreased from 0.779)

Put-Call Ratio (Volume): 0.919

Max Pain Level: 59200

Maximum CALL Open Interest: 59500

Maximum PUT Open Interest: 59000

Highest CALL Addition: 59500

Highest PUT Addition: 59100

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13813.1 (-0.955%)

Combined = December + January + February

Combined Fut Open Interest Change: -5.67%

Combined Fut Volume Change: 255.59%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 16% Previous 8%

MIDCPNIFTY DECEMBER Future closed at: 13803.7 (-1.146%)

December Fut Discount -9.4 (Decreased by -26.8 points)

December Fut Open Interest Change: -13.68%

December Fut Volume Change: 242.90%

December Fut Open Interest Analysis: Long Covering

MIDCPNIFTY JANUARY Future closed at: 13879.85 (-1.116%)

January Fut Discount 66.75 (Decreased by -23.45 points)

January Fut Open Interest Change: 86.79%

January Fut Volume Change: 308.55%

January Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry  (30/12/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.870 (Decreased from 1.118)

Put-Call Ratio (Volume): 0.946

Max Pain Level: 13900

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 13900

Highest PUT Addition: 13900

SENSEX Monthly Expiry (29/01/2025) Future

SENSEX Spot closed at: 85,408.70 (-0.136%)

SENSEX Monthly Future closed at: 86,036.15 (-0.142%)

Premium: 627.45 (Decreased by -6.06 points)

Open Interest Change: 12.75%

Volume Change: 0.62%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (1/01/2025) Option Analysis

Put-Call Ratio (OI): 0.826 (Decreased from 0.989)

Put-Call Ratio (Volume): 1.012

Max Pain Level: 85500

Maximum CALL OI: 85500

Maximum PUT OI: 85500

Highest CALL Addition: 88000

Highest PUT Addition: 85500

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,721.26 Cr.
DIIs Net BUY: ₹ 2,381.34 Cr.

FII Derivatives Activity

FII Trading Stats	24.12.25	23.12.25	22.12.25
FII Cash (Provisional Data)	-1,721.26	-1,794.80	-457.34
Index Future Open Interest Long Ratio	12.44%	12.77%	11.39%
Index Future Volume Long Ratio	51.75%	69.49%	73.73%
Call Option Open Interest Long Ratio	49.88%	51.28%	52.71%
Call Option Volume Long Ratio	49.79%	49.79%	50.42%
Put Option Open Interest Long Ratio	60.38%	60.83%	57.02%
Put Option Volume Long Ratio	50.46%	50.07%	49.82%
Stock Future Open Interest Long Ratio	62.12%	62.04%	61.83%
Stock Future Volume Long Ratio	49.93%	50.88%	50.69%
Index Futures	Short Covering	Short Covering	Short Covering
Index Options	Fresh Short	Long Covering	Fresh Long
Nifty Futures	Short Covering	Short Covering	Short Covering
Nifty Options	Fresh Short	Long Covering	Fresh Long
BankNifty Futures	Short Covering	Long Covering	Short Covering
BankNifty Options	Long Covering	Fresh Short	Fresh Short
FinNifty Futures	Short Covering	Fresh Long	Fresh Short
FinNifty Options	Fresh Short	Fresh Long	Fresh Short
MidcpNifty Futures	Short Covering	Short Covering	Fresh Short
MidcpNifty Options	Fresh Short	Short Covering	Fresh Short
NiftyNxt50 Futures	Long Covering	Fresh Long	Long Covering
NiftyNxt50 Options	Fresh Long	Fresh Long	Fresh Long
Stock Futures	Short Covering	Fresh Long	Fresh Long
Stock Options	Short Covering	Short Covering	Fresh Short

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 (1/01/2025)

The SENSEX index closed at 85408.7. The SENSEX weekly expiry for JANUARY 1, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.826 against previous 0.989. The 85500CE option holds the maximum open interest, followed by the 85500PE and 88000CE options. Market participants have shown increased interest with significant open interest additions in the 88000CE option, with open interest additions also seen in the 85500CE and 85500PE options. On the other hand, open interest reductions were prominent in the 89100CE, 79400PE, and 79400PE options. Trading volume was highest in the 85500PE option, followed by the 85500CE and 85000PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	01-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
85408.7	0.826	0.989	1.012
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	37,11,640	12,51,380	24,60,260
PUT:	30,65,700	12,37,220	18,28,480
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85500	3,96,360	2,46,760	17,96,620
88000	3,61,380	2,87,640	11,06,400
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
88000	3,61,380	2,87,640	11,06,400
85500	3,96,360	2,46,760	17,96,620
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
89100	40	-20	80
–	–	–	–
Top CALL Volume:
Strike	OI	OI Change	Volume
85500	3,96,360	2,46,760	17,96,620
86000	2,19,220	1,20,900	13,37,380
Top PUT Open Interest:
Strike	OI	OI Change	Volume
85500	3,81,660	2,15,200	25,75,840
85000	2,92,160	1,60,320	13,46,640
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
85500	3,81,660	2,15,200	25,75,840
85000	2,92,160	1,60,320	13,46,640
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
–	–	–	–
87900	220	20	40
Top PUT Volume:
Strike	OI	OI Change	Volume
85500	3,81,660	2,15,200	25,75,840
85000	2,92,160	1,60,320	13,46,640

NIFTY Monthly Expiry (30/12/2025)

The NIFTY index closed at 26142.1. The NIFTY monthly expiry for DECEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.913 against previous 1.084. The 26000PE option holds the maximum open interest, followed by the 26200CE and 27000CE options. Market participants have shown increased interest with significant open interest additions in the 26200CE option, with open interest additions also seen in the 26400CE and 26250CE options. On the other hand, open interest reductions were prominent in the 24500PE, 25400PE, and 24800PE options. Trading volume was highest in the 26200PE option, followed by the 26200CE and 26150PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-12-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,142.10	0.913	1.084	0.992
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	15,88,69,225	10,51,59,625	5,37,09,600
PUT:	14,50,77,800	11,39,91,650	3,10,86,150
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,200	1,34,13,450	58,54,725	34,17,097
27,000	1,21,63,375	10,64,500	6,01,208
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,200	1,34,13,450	58,54,725	34,17,097
26,400	1,03,37,475	52,13,250	11,98,609
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,800	10,70,550	-1,31,700	28,487
25,900	11,97,300	-1,18,125	56,192
Top CALL Volume:
Strike	OI	OI Change	Volume
26,200	1,34,13,450	58,54,725	34,17,097
26,250	63,31,500	41,83,875	18,28,127
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	1,52,55,200	33,52,825	13,80,925
25,000	1,04,21,150	23,43,325	4,04,307
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,000	1,52,55,200	33,52,825	13,80,925
25,500	79,52,175	23,77,350	4,12,710
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	34,88,175	-4,15,500	1,28,051
25,400	26,45,325	-2,47,575	4,04,054
Top PUT Volume:
Strike	OI	OI Change	Volume
26,200	74,95,050	9,07,950	35,77,127
26,150	39,77,175	16,30,350	19,77,571

BANKNIFTY Monthly Expiry (30/12/2025)

The BANKNIFTY index closed at 59183.6. The BANKNIFTY monthly expiry for DECEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.693 against previous 0.779. The 59500CE option holds the maximum open interest, followed by the 60000CE and 59000PE options. Market participants have shown increased interest with significant open interest additions in the 59500CE option, with open interest additions also seen in the 61000CE and 59300CE options. On the other hand, open interest reductions were prominent in the 58000PE, 57500PE, and 59500PE options. Trading volume was highest in the 59500CE option, followed by the 59500PE and 59000PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	30-12-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
59,183.60	0.693	0.779	0.919
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,07,22,160	2,02,49,905	4,72,255
PUT:	1,43,64,070	1,57,69,750	-14,05,680
Top CALL Open Interest:
Strike	OI	OI Change	Volume
59,500	24,10,660	3,95,045	3,19,457
60,000	19,91,045	1,15,990	1,81,715
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
59,500	24,10,660	3,95,045	3,19,457
61,000	11,75,055	2,84,795	1,17,744
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
60,800	1,45,740	-1,60,580	31,575
60,100	2,57,460	-1,46,475	80,171
Top CALL Volume:
Strike	OI	OI Change	Volume
59,500	24,10,660	3,95,045	3,19,457
59,400	6,84,985	1,21,625	2,09,673
Top PUT Open Interest:
Strike	OI	OI Change	Volume
59,000	13,79,910	-16,205	2,37,936
59,500	11,14,610	-1,74,930	2,38,529
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
59,100	3,14,580	45,010	1,07,702
57,900	1,52,250	37,520	22,509
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
58,000	8,72,655	-1,93,935	1,17,912
57,500	4,10,795	-1,77,590	56,608
Top PUT Volume:
Strike	OI	OI Change	Volume
59,500	11,14,610	-1,74,930	2,38,529
59,000	13,79,910	-16,205	2,37,936

MIDCPNIFTY Monthly Expiry (30/12/2025)

The MIDCPNIFTY index closed at 13813.1. The MIDCPNIFTY monthly expiry for DECEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.870 against previous 1.118. The 14000CE option holds the maximum open interest, followed by the 13900CE and 13000PE options. Market participants have shown increased interest with significant open interest additions in the 13900CE option, with open interest additions also seen in the 14000CE and 14050CE options. On the other hand, open interest reductions were prominent in the 69500CE, 68000CE, and 69000PE options. Trading volume was highest in the 14000CE option, followed by the 13900PE and 13800PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-12-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,813.10	0.870	1.118	0.946
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,34,06,820	98,12,740	35,94,080
PUT:	1,16,64,380	1,09,68,720	6,95,660
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	17,05,340	6,03,120	71,148
13,900	12,81,000	8,99,360	46,952
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,900	12,81,000	8,99,360	46,952
14,000	17,05,340	6,03,120	71,148
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	10,75,760	-1,20,540	15,296
14,800	3,49,580	-55,580	2,758
Top CALL Volume:
Strike	OI	OI Change	Volume
14,000	17,05,340	6,03,120	71,148
13,900	12,81,000	8,99,360	46,952
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	11,87,480	-86,800	10,443
14,000	8,23,900	1,44,060	32,086
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,900	8,23,060	2,49,480	55,253
13,800	7,90,020	2,08,740	52,001
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,550	87,500	-1,13,680	7,666
13,650	1,33,560	-97,020	11,864
Top PUT Volume:
Strike	OI	OI Change	Volume
13,900	8,23,060	2,49,480	55,253
13,800	7,90,020	2,08,740	52,001

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

Open Interest Volume Analysis verdict: Rally pause, not reversal: Long covering swamps combined books everywhere except SENSEX shorts—26,000 support tested but volume suggests exhaustion.

Actionable Christmas eve plays: Sell 26,100-26,300 rallies with 26,400 stops; favor put credit spreads or short futures—theta gang paradise into holidays.

Sector caution: Trim BANKNIFTY/MIDCPNIFTY longs aggressively; light NIFTY bias higher if PCR holds—avoid hero trades.

Tomorrow’s Santa check: Volume fade + OI stabilize = range hold; fresh shorts dominate = 25,800 breach—position tiny, year-end flows get wild.

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