NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 31/07/2025

The Open Interest Volume Analysis for 31st July 2025 kicks off the new series with a sense of cautious rebuilding as market participants roll over positions after a turbulent expiry. Nifty August futures edged down 0.35% to 24,871.60, but the standout signal is the massive 24% surge in open interest and a doubling of trading volume—clear evidence that traders are actively establishing fresh bets for the August cycle. The premium remains on the higher side, confirming nervousness and hedging behavior as the underlying drifts south. In the options space, the weekly Put-Call Ratio (OI) jumped to 0.909, supported by heavy put and call additions at the 24,000 and 26,000 strikes, while max pain at 24,850 reinforces this range as the early expiry battleground. Meanwhile, the August monthly series begins with a relatively bullish Put-Call Ratio above 1, but a large concentration of OI both at 25,000 for calls and puts suggests fierce competition will keep prices oscillating near support for now.

BankNifty futures followed suit—down 0.29% but with a startling 31.8% OI surge and 228% spike in volumes, indicating a flurry of fresh participation from both bulls and bears as options action stacks up around the 57,000 strike. FINNIFTY and MIDCPNIFTY futures both posted significant OI and volume increases despite price weakness, a classic sign that experienced traders are quickly positioning for the new monthly narrative. SENSEX, after seeing expiry-driven hedging, cooled off with an 8.3% OI cut and declining premium as participants unwind protective trades.

NSE & BSE F&O Market Signals

NIFTY AUGUST Future

NIFTY Spot closed at: 24,768.35 (-0.35%)

NIFTY AUGUST Future closed at: 24,871.60 (-0.35%)

Premium: 103.25 (Decreased by -0.8 points)

Open Interest Change: 24.0%

Volume Change: 107.2%

NIFTY Weekly Expiry (7/08/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.909 (Increased from 0.848)

Put-Call Ratio (Volume): 0.916

Max Pain Level: 24850

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 26000

Highest PUT Addition: 24000

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

Put-Call Ratio (Open Interest): 1.075 (Decreased from 1.099)

Put-Call Ratio (Volume): 0.882

Max Pain Level: 25000

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25500

Highest PUT Addition: 24000

BANKNIFTY AUGUST Future

BANKNIFTY Spot closed at: 55,961.95 (-0.34%)

BANKNIFTY AUGUST Future closed at: 56,194.00 (-0.29%)

Premium: 232.05 (Increased by 22.95 points)

Open Interest Change: 31.8%

Volume Change: 228.5%

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

Put-Call Ratio (Open Interest): 0.895 (Decreased from 0.944)

Put-Call Ratio (Volume): 0.895

Max Pain Level: 56500

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 57000

Highest CALL Addition: 56000

Highest PUT Addition: 56000

FINNIFTY AUGUST Future

FINNIFTY Spot closed at: 26,649.95 (-0.20%)

FINNIFTY AUGUST Future closed at: 26,731.00 (-0.28%)

Premium:  81.05 (Decreased by -22.15 points)

Open Interest Change: 37.3%

Volume Change: 89.2%

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

Put-Call Ratio (Open Interest): 1.035 (Increased from 0.410)

Put-Call Ratio (Volume): 1.022

Max Pain Level: 26700

Maximum CALL Open Interest: 27000

Maximum PUT Open Interest: 26500

Highest CALL Addition: 27000

Highest PUT Addition: 26500

MIDCPNIFTY AUGUST Future

MIDCPNIFTY Spot closed at: 12,867.10 (-1.10%)

MIDCPNIFTY AUGUST Future closed at: 12,920.65 (-1.06%)

Premium: 53.55 (Increased by 4.5 points)

Open Interest Change: 29.6%

Volume Change: 124.0%

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

Put-Call Ratio (Open Interest): 1.199 (Decreased from 1.231)

Put-Call Ratio (Volume): 0.896

Max Pain Level: 13000

Maximum CALL Open Interest: 13000

Maximum PUT Open Interest: 12000

Highest CALL Addition: 12000

Highest PUT Addition: 12000

SENSEX Weekly Expiry (5/08/2025) Future

SENSEX Spot closed at: 81,185.58 (-0.36%)

SENSEX Weekly Future closed at: 81,270.30 (-0.39%)

Premium: 84.72 (Decreased by -22.97 points)

Open Interest Change: -8.3%

Volume Change: 72.1%

SENSEX Weekly Expiry (5/08/2025) Option Analysis

Put-Call Ratio (OI): 1.063 (Increased from 0.838)

Put-Call Ratio (Volume): 0.895

Max Pain Level: 73400

Maximum CALL OI: 84000

Maximum PUT OI: 81000

Highest CALL Addition: 85000

Highest PUT Addition: 78000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 5,588.91 Cr
DIIs Net BUY: ₹ 6,372.71 Cr

FII Derivatives Activity

FII Trading Stats	31.07.25	30.07.25	29.07.25
FII Cash (Provisional Data)	-5,588.91	-850.04	-4,636.60
Index Future Open Interest Long Ratio	9.59%	14.06%	13.33%
Index Future Volume Long Ratio	47.41%	48.72%	47.26%
Call Option Open Interest Long Ratio	45.45%	47.38%	48.62%
Call Option Volume Long Ratio	50.05%	49.81%	50.53%
Put Option Open Interest Long Ratio	69.51%	57.59%	60.38%
Put Option Volume Long Ratio	50.03%	49.57%	49.58%
Stock Future Open Interest Long Ratio	62.50%	62.16%	62.28%
Stock Future Volume Long Ratio	49.09%	49.95%	50.69%
Index Futures	Long Covering	Fresh Short	Fresh Short
Index Options	Short Covering	Fresh Short	Fresh Long
Nifty Futures	Long Covering	Fresh Short	Long Covering
Nifty Options	Short Covering	Fresh Short	Fresh Long
BankNifty Futures	Short Covering	Fresh Short	Fresh Long
BankNifty Options	Short Covering	Fresh Short	Long Covering
FinNifty Futures	Fresh Long	Long Covering	Fresh Short
FinNifty Options	Long Covering	Long Covering	Fresh Short
MidcpNifty Futures	Long Covering	Long Covering	Fresh Long
MidcpNifty Options	Long Covering	Long Covering	Fresh Long
NiftyNxt50 Futures	Long Covering	Fresh Short	Fresh Short
NiftyNxt50 Options	Long Covering	Fresh Short	Fresh Long
Stock Futures	Long Covering	Fresh Short	Fresh Long
Stock Options	Long Covering	Long Covering	Short Covering

NSE & BSE Option market Trends : Options Insights

NIFTY Weekly Expiry (7/08/2025)

The NIFTY index closed at 24768.35. The NIFTY weekly expiry for AUGUST 7, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.909 against previous 0.848. The 26000CE option holds the maximum open interest, followed by the 25000CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 24000PE and 23500PE options. On the other hand, open interest reductions were prominent in the 25050PE, 25150PE, and 24450CE options. Trading volume was highest in the 25000CE option, followed by the 24700PE and 24800PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	07-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,768.35	0.909	0.848	0.916
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,20,24,700	3,38,73,525	2,81,51,175
PUT:	5,64,07,500	2,87,27,925	2,76,79,575
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	53,28,375	23,62,575	2,05,040
25,000	49,79,475	20,85,600	7,07,863
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	53,28,375	23,62,575	2,05,040
25,000	49,79,475	20,85,600	7,07,863
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,450	18,825	-975	3,131
23,600	5,550	-375	100
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	49,79,475	20,85,600	7,07,863
24,900	31,90,050	12,67,125	5,15,449
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	46,01,250	22,99,050	2,69,753
23,500	40,16,175	21,26,925	2,19,650
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	46,01,250	22,99,050	2,69,753
23,500	40,16,175	21,26,925	2,19,650
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,050	87,450	-16,350	14,983
25,150	86,850	-13,725	5,750
Top PUT Volume:
Strike	OI	OI Change	Volume
24,700	31,78,050	18,50,775	5,77,065
24,800	32,48,175	12,92,925	5,22,818

SENSEX Weekly Expiry (5/08/2025)

The SENSEX index closed at 81185.58. The SENSEX weekly expiry for AUGUST 5, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.063 against previous 0.838. The 84000CE option holds the maximum open interest, followed by the 81000PE and 78000PE options. Market participants have shown increased interest with significant open interest additions in the 78000PE option, with open interest additions also seen in the 76000PE and 77500PE options. On the other hand, open interest reductions were prominent in the 81400PE, 81500PE, and 86500CE options. Trading volume was highest in the 81000PE option, followed by the 81500CE and 82000CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	05-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81185.58	1.063	0.838	0.895
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	89,84,720	53,44,860	36,39,860
PUT:	95,48,000	44,77,209	50,70,791
Top CALL Open Interest:
Strike	OI	OI Change	Volume
84000	6,69,160	2,30,380	76,36,100
83000	6,05,120	2,84,000	85,65,840
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
85000	5,07,760	3,10,220	36,72,840
83000	6,05,120	2,84,000	85,65,840
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
86500	56,260	-52,600	6,43,360
86000	2,56,880	-38,080	15,55,260
Top CALL Volume:
Strike	OI	OI Change	Volume
81500	5,89,540	2,23,220	1,44,63,040
82000	4,95,260	2,39,100	1,16,21,440
Top PUT Open Interest:
Strike	OI	OI Change	Volume
81000	6,26,420	2,84,740	1,63,08,420
78000	6,20,560	3,86,020	51,19,940
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
78000	6,20,560	3,86,020	51,19,940
76000	4,73,800	3,52,480	34,37,960
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
81400	92,180	-63,400	56,55,020
81500	3,18,200	-55,960	91,79,300
Top PUT Volume:
Strike	OI	OI Change	Volume
81000	6,26,420	2,84,740	1,63,08,420
81500	3,18,200	-55,960	91,79,300

NIFTY Monthly Expiry (28/08/2025)

The NIFTY index closed at 24768.35. The NIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.075 against previous 1.099. The 25000CE option holds the maximum open interest, followed by the 25000PE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 24000PE option, with open interest additions also seen in the 25500CE and 26000CE options. On the other hand, open interest reductions were prominent in the 24200PE, 25700CE, and 24300PE options. Trading volume was highest in the 25000CE option, followed by the 25500CE and 24000PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,768.35	1.075	1.099	0.882
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,03,54,150	2,65,79,925	37,74,225
PUT:	3,26,23,575	2,92,14,225	34,09,350
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	46,38,750	4,65,375	1,11,782
26,000	38,01,825	5,94,975	66,510
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,500	37,26,150	6,35,025	88,788
26,000	38,01,825	5,94,975	66,510
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,700	5,98,125	-1,15,950	26,119
26,800	1,72,500	-35,175	3,127
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	46,38,750	4,65,375	1,11,782
25,500	37,26,150	6,35,025	88,788
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	40,35,075	2,15,775	74,716
24,000	35,01,900	8,44,350	75,852
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	35,01,900	8,44,350	75,852
24,800	13,71,225	3,98,100	50,948
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,200	8,43,375	-1,76,550	22,896
24,300	8,94,450	-77,475	19,977
Top PUT Volume:
Strike	OI	OI Change	Volume
24,000	35,01,900	8,44,350	75,852
25,000	40,35,075	2,15,775	74,716

BANKNIFTY Monthly Expiry (28/08/2025)

The BANKNIFTY index closed at 55961.95. The BANKNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.895 against previous 0.944. The 57000CE option holds the maximum open interest, followed by the 57000PE and 58000CE options. Market participants have shown increased interest with significant open interest additions in the 56000CE option, with open interest additions also seen in the 57000CE and 56000PE options. On the other hand, open interest reductions were prominent in the 53500PE, 62500CE, and 56900PE options. Trading volume was highest in the 56000PE option, followed by the 56000CE and 57000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
55,961.95	0.895	0.944	0.895
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	89,73,790	67,57,529	22,16,261
PUT:	80,33,235	63,80,710	16,52,525
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	18,59,970	1,94,390	66,072
58,000	7,63,350	1,31,775	36,321
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
56,000	5,37,110	2,49,200	82,921
57,000	18,59,970	1,94,390	66,072
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
62,500	28,140	-3,150	573
53,100	560	-280	8
Top CALL Volume:
Strike	OI	OI Change	Volume
56,000	5,37,110	2,49,200	82,921
57,000	18,59,970	1,94,390	66,072
Top PUT Open Interest:
Strike	OI	OI Change	Volume
57,000	14,30,170	56,735	24,100
56,000	7,41,475	1,73,390	89,525
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
56,000	7,41,475	1,73,390	89,525
55,500	4,31,165	1,43,080	44,298
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
53,500	2,27,010	-6,370	12,993
56,900	27,090	-1,995	1,619
Top PUT Volume:
Strike	OI	OI Change	Volume
56,000	7,41,475	1,73,390	89,525
55,500	4,31,165	1,43,080	44,298

FINNIFTY Monthly Expiry (28/08/2025)

The FINNIFTY index closed at 26649.95. The FINNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.035 against previous 0.410. The 26500PE option holds the maximum open interest, followed by the 26800PE and 27000CE options. Market participants have shown increased interest with significant open interest additions in the 26500PE option, with open interest additions also seen in the 26800PE and 27000CE options. On the other hand, open interest reductions were prominent in the 28500CE, 28500CE, and 28500CE options. Trading volume was highest in the 26500PE option, followed by the 27000CE and 27500CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,649.95	1.035	0.410	1.022
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	58,955	15,860	43,095
PUT:	61,035	6,500	54,535
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,000	12,350	10,725	741
27,500	10,985	3,835	539
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,000	12,350	10,725	741
26,500	9,490	9,425	495
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
–	–	–	–
–	–	–	–
Top CALL Volume:
Strike	OI	OI Change	Volume
27,000	12,350	10,725	741
27,500	10,985	3,835	539
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,500	15,405	13,260	994
26,800	12,935	12,870	389
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,500	15,405	13,260	994
26,800	12,935	12,870	389
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
–	–	–	–
–	–	–	–
Top PUT Volume:
Strike	OI	OI Change	Volume
26,500	15,405	13,260	994
26,000	10,985	9,360	437

MIDCPNIFTY Monthly Expiry (28/08/2025)

The MIDCPNIFTY index closed at 12867.1. The MIDCPNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.199 against previous 1.231. The 12000PE option holds the maximum open interest, followed by the 13000PE and 12500PE options. Market participants have shown increased interest with significant open interest additions in the 12000PE option, with open interest additions also seen in the 12000CE and 13000CE options. On the other hand, open interest reductions were prominent in the 79000CE, 79000CE, and 79000PE options. Trading volume was highest in the 13000CE option, followed by the 13000PE and 12500PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,867.10	1.199	1.231	0.896
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	14,86,380	8,60,300	6,26,080
PUT:	17,82,480	10,58,960	7,23,520
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,000	2,37,580	99,680	6,446
13,500	1,75,980	53,620	4,175
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
12,000	1,35,380	1,31,740	1,151
13,000	2,37,580	99,680	6,446
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,000	1,68,420	-70,840	2,388
13,175	1,960	-140	57
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	2,37,580	99,680	6,446
13,500	1,75,980	53,620	4,175
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,000	5,41,940	2,72,160	4,559
13,000	2,74,400	79,800	5,033
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,000	5,41,940	2,72,160	4,559
12,900	1,22,780	84,280	2,881
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,100	14,980	-4,480	222
13,050	7,280	-1,960	65
Top PUT Volume:
Strike	OI	OI Change	Volume
13,000	2,74,400	79,800	5,033
12,500	2,66,560	40,880	5,019

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

This session’s Open Interest Volume Analysis reveals a market in transition—moving from expiry-induced caution to aggressive new positioning for August, but without a clear risk-on signal just yet. For Nifty, the 24,850–25,000 zone is primed to be the short-term pivot: as long as price hovers here and OI builds at-the-money, expect sharp whipsaws and ideal conditions for iron condors or straddle/strangle strategies. A decisive move above 25,000 could spark a relief rally, but crowded call OI at 26,000 will check runaway upside. On the flip side, should 24,700 crack, watch for swift drops to 24,500 where new puts are clustering.

BankNifty’s strong OI and volume jump set the stage for heightened volatility—a squeeze above 57,000 can quickly attract short covering, while strict stops are a must if fresh selling cascades below 56,000. FINNIFTY and MIDCPNIFTY data signal traders are loading up both sides, so expect initial choppiness before a discernible trend emerges mid-series. For tactical traders, stick to range bound or breakout responsive options setups around max pain zones and heed sudden spikes in OI for directional clues. As August plays out, let this Open Interest Volume Analysis be your edge for capitalizing on new trends—staying flexible, data-driven, and ready for action as fresh participation reshapes the landscape.

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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