NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 20/08/2025

The Open Interest Volume Analysis for 20th August 2025 highlights a market staying steady just above key expiry levels, showing that traders are preparing for a range-bound expiry with a mildly bullish undertone. Nifty August futures ticked up 0.20% to 25,083.30, while open interest slipped by 2.1%—a clear signal of continued short covering and a lack of aggressive new long positions. The premium fell more than 20 points as profits were booked and hedges were unwound ahead of expiry. Options data confirms this view: the weekly Put-Call Ratio (OI) spiked to 1.35 as put writers returned strongly to the 25,000 level, now both max pain and the largest open interest strike for the week, while heavy call writing remains at 25,500. Traders are betting on a stable expiry in the 25,000–25,100 band. In the monthly series, the Put-Call Ratio (OI) also nudged higher, supporting the case for a consolidation phase as expiry approaches.

BankNifty tells a different story, falling 0.27% even as open interest rose 1.6%, and premium increased. This suggests new shorts are appearing, with options data showing a lower Put-Call Ratio (OI) at 0.71 amid strong call open interest at 57,000. Bears are still at the wheel in banks. FINNIFTY also slid, with open interest up and premium down, showing pressure remains, while in contrast, MIDCPNIFTY outperformed—rising over 0.7% with growing OI and a Put-Call Ratio (OI) spike to 1.34, pointing to continued optimism in midcaps.

NSE & BSE F&O Market Signals

NIFTY AUGUST Future

NIFTY Spot closed at: 25,050.55 (0.28%)

NIFTY AUGUST Future closed at: 25,083.30 (0.20%)

Premium: 32.75 (Decreased by -20.1 points)

Open Interest Change: -2.1%

Volume Change: 15.0%

NIFTY Weekly Expiry (21/08/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.348 (Increased from 1.113)

Put-Call Ratio (Volume): 0.809

Max Pain Level: 25000

Maximum CALL Open Interest: 25500

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25100

Highest PUT Addition: 25000

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

Put-Call Ratio (Open Interest): 1.114 (Increased from 1.097)

Put-Call Ratio (Volume): 0.911

Max Pain Level: 25000

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26000

Highest PUT Addition: 24000

BANKNIFTY AUGUST Future

BANKNIFTY Spot closed at: 55,698.50 (-0.30%)

BANKNIFTY AUGUST Future closed at: 55,815.60 (-0.27%)

Premium: 117.1 (Increased by 16.45 points)

Open Interest Change: 1.6%

Volume Change: -15.0%

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

Put-Call Ratio (Open Interest): 0.711 (Decreased from 0.776)

Put-Call Ratio (Volume): 0.906

Max Pain Level: 55900

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 57000

Highest CALL Addition: 58700

Highest PUT Addition: 53500

FINNIFTY AUGUST Future

FINNIFTY Spot closed at: 26,487.80 (-0.39%)

FINNIFTY AUGUST Future closed at: 26,549.50 (-0.41%)

Premium:  61.7 (Decreased by -4.4 points)

Open Interest Change: 2.2%

Volume Change: 33.9%

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

Put-Call Ratio (Open Interest): 0.762 (Decreased from 0.841)

Put-Call Ratio (Volume): 0.838

Max Pain Level: 26500

Maximum CALL Open Interest: 27000

Maximum PUT Open Interest: 26500

Highest CALL Addition: 26500

Highest PUT Addition: 26500

MIDCPNIFTY AUGUST Future

MIDCPNIFTY Spot closed at: 12,999.80 (0.71%)

MIDCPNIFTY AUGUST Future closed at: 13,023.85 (0.51%)

Premium: 24.05 (Decreased by -25.95 points)

Open Interest Change: 1.1%

Volume Change: -18.5%

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

Put-Call Ratio (Open Interest): 1.338 (Increased from 1.123)

Put-Call Ratio (Volume): 1.135

Max Pain Level: 12900

Maximum CALL Open Interest: 13500

Maximum PUT Open Interest: 12000

Highest CALL Addition: 13500

Highest PUT Addition: 13000

SENSEX Monthly Expiry (24/08/2025) Future

SENSEX Spot closed at: 81,857.84 (0.26%)

SENSEX Monthly Future closed at: 81,935.90 (0.19%)

Premium: 78.06 (Decreased by -58.45 points)

Open Interest Change: -11.2%

Volume Change: -26.2%

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

Put-Call Ratio (OI): 1.373 (Increased from 1.213)

Put-Call Ratio (Volume): 0.815

Max Pain Level: 81800

Maximum CALL OI: 85000

Maximum PUT OI: 81500

Highest CALL Addition: 85000

Highest PUT Addition: 81600

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,100.09 Cr
DIIs Net BUY: ₹ 1,806.34 Cr

FII Derivatives Activity

FII Trading Stats	20.08.25	19.08.25	18.08.25
FII Cash (Provisional Data)	-1,100.09	-634.26	550.85
Index Future Open Interest Long Ratio	9.90%	9.71%	9.73%
Index Future Volume Long Ratio	46.50%	49.35%	64.61%
Call Option Open Interest Long Ratio	47.65%	49.14%	47.97%
Call Option Volume Long Ratio	49.78%	50.20%	50.03%
Put Option Open Interest Long Ratio	61.57%	66.65%	66.80%
Put Option Volume Long Ratio	49.46%	50.11%	49.99%
Stock Future Open Interest Long Ratio	62.28%	62.41%	62.13%
Stock Future Volume Long Ratio	49.20%	53.18%	53.67%
Index Futures	Fresh Short	Fresh Short	Short Covering
Index Options	Fresh Short	Fresh Long	Fresh Long
Nifty Futures	Fresh Short	Fresh Short	Short Covering
Nifty Options	Fresh Short	Fresh Long	Fresh Short
BankNifty Futures	Fresh Short	Short Covering	Fresh Long
BankNifty Options	Fresh Short	Fresh Short	Fresh Long
FinNifty Futures	Long Covering	Fresh Short	Fresh Long
FinNifty Options	Short Covering	Fresh Long	Fresh Long
MidcpNifty Futures	Fresh Short	Fresh Short	Short Covering
MidcpNifty Options	Fresh Long	Fresh Short	Fresh Long
NiftyNxt50 Futures	Short Covering	Short Covering	Fresh Long
NiftyNxt50 Options	Fresh Short	Fresh Long	Fresh Short
Stock Futures	Fresh Short	Fresh Long	Fresh Long
Stock Options	Fresh Long	Fresh Short	Fresh Short

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

NIFTY Weekly Expiry (21/08/2025)

The NIFTY index closed at 25050.55. The NIFTY weekly expiry for AUGUST 21, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.348 against previous 1.113. The 25000PE option holds the maximum open interest, followed by the 24900PE and 25500CE options. Market participants have shown increased interest with significant open interest additions in the 25000PE option, with open interest additions also seen in the 25050PE and 25100CE options. On the other hand, open interest reductions were prominent in the 25000CE, 26000CE, and 24100PE options. Trading volume was highest in the 25000CE option, followed by the 25000PE and 25100CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	21-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,050.55	1.348	1.113	0.809
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	13,52,14,575	12,96,08,475	56,06,100
PUT:	18,22,08,450	14,42,66,250	3,79,42,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,500	1,24,20,750	8,78,850	14,21,097
25,100	1,13,87,775	47,50,350	65,01,248
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,100	1,13,87,775	47,50,350	65,01,248
25,050	78,34,200	40,24,125	62,61,099
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	79,62,075	-38,57,100	82,14,354
26,000	71,34,150	-17,81,100	5,31,900
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	79,62,075	-38,57,100	82,14,354
25,100	1,13,87,775	47,50,350	65,01,248
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	1,74,48,600	69,67,425	71,64,809
24,900	1,49,66,700	35,84,925	46,11,078
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,000	1,74,48,600	69,67,425	71,64,809
25,050	74,71,725	60,48,975	38,30,904
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,100	29,32,350	-14,56,500	3,59,725
22,600	40,11,300	-11,99,475	1,43,045
Top PUT Volume:
Strike	OI	OI Change	Volume
25,000	1,74,48,600	69,67,425	71,64,809
24,900	1,49,66,700	35,84,925	46,11,078

SENSEX Weekly Expiry (26/08/2025)

The SENSEX index closed at 81857.84. The SENSEX weekly expiry for AUGUST 26, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.373 against previous 1.213. The 81500PE option holds the maximum open interest, followed by the 80000PE and 79000PE options. Market participants have shown increased interest with significant open interest additions in the 85000CE option, with open interest additions also seen in the 81600PE and 81500PE options. On the other hand, open interest reductions were prominent in the 81000CE, 80700CE, and 80800CE options. Trading volume was highest in the 82000CE option, followed by the 81500PE and 81800CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	26-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81857.84	1.373	1.213	0.815
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	62,08,460	31,38,000	30,70,460
PUT:	85,23,960	38,05,760	47,18,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85000	4,61,840	3,35,140	23,69,540
84000	4,26,620	1,20,880	39,32,180
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
85000	4,61,840	3,35,140	23,69,540
83000	4,03,320	1,60,580	66,48,860
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
81000	42,420	-2,360	2,53,100
80700	10,620	-1,660	5,420
Top CALL Volume:
Strike	OI	OI Change	Volume
82000	4,10,880	1,30,060	1,08,50,340
81800	1,49,640	62,700	93,27,380
Top PUT Open Interest:
Strike	OI	OI Change	Volume
81500	6,84,620	2,88,460	1,04,18,960
80000	5,04,400	1,00,240	40,01,860
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
81600	4,15,840	3,34,960	79,66,400
81500	6,84,620	2,88,460	1,04,18,960
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
84000	10,260	-240	1,720
83300	880	-100	440
Top PUT Volume:
Strike	OI	OI Change	Volume
81500	6,84,620	2,88,460	1,04,18,960
81600	4,15,840	3,34,960	79,66,400

NIFTY Monthly Expiry (28/08/2025)

The NIFTY index closed at 25050.55. The NIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.114 against previous 1.097. The 26000CE option holds the maximum open interest, followed by the 25000PE 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 25300CE options. On the other hand, open interest reductions were prominent in the 25000CE, 24900CE, and 24700CE options. Trading volume was highest in the 25000CE option, followed by the 25000PE and 25100CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,050.55	1.114	1.097	0.911
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,44,48,925	5,23,06,725	1,21,42,200
PUT:	7,17,73,125	5,73,98,775	1,43,74,350
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	71,15,700	18,33,825	1,15,693
25,000	62,51,475	-5,80,350	3,46,891
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	71,15,700	18,33,825	1,15,693
25,300	33,61,725	13,64,100	2,14,464
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	62,51,475	-5,80,350	3,46,891
24,900	11,14,275	-1,82,775	1,01,337
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	62,51,475	-5,80,350	3,46,891
25,100	29,95,650	7,35,300	2,58,543
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	64,87,200	8,22,150	3,11,158
24,000	62,89,725	17,66,850	1,23,662
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	62,89,725	17,66,850	1,23,662
24,900	31,10,325	11,40,600	1,88,493
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,100	10,57,125	-71,100	50,110
26,500	6,13,200	-24,900	546
Top PUT Volume:
Strike	OI	OI Change	Volume
25,000	64,87,200	8,22,150	3,11,158
24,900	31,10,325	11,40,600	1,88,493

BANKNIFTY Monthly Expiry (28/08/2025)

The BANKNIFTY index closed at 55698.5. The BANKNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.711 against previous 0.776. The 57000CE option holds the maximum open interest, followed by the 56000CE and 57000PE options. Market participants have shown increased interest with significant open interest additions in the 58700CE option, with open interest additions also seen in the 55700CE and 56000CE options. On the other hand, open interest reductions were prominent in the 55700PE, 60000CE, and 58500CE options. Trading volume was highest in the 55700PE option, followed by the 56000CE and 55700CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
55,698.50	0.711	0.776	0.906
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,05,91,865	1,92,74,395	13,17,470
PUT:	1,46,34,305	1,49,53,085	-3,18,780
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	24,06,810	82,880	85,268
56,000	18,20,210	2,06,430	2,12,729
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
58,700	2,74,960	2,32,610	15,041
55,700	4,47,475	2,32,470	2,05,293
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	8,48,225	-1,30,095	22,252
58,500	4,57,485	-1,23,445	33,192
Top CALL Volume:
Strike	OI	OI Change	Volume
56,000	18,20,210	2,06,430	2,12,729
55,700	4,47,475	2,32,470	2,05,293
Top PUT Open Interest:
Strike	OI	OI Change	Volume
57,000	12,87,160	-5,495	2,887
56,000	11,08,450	-42,840	1,03,097
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
53,500	5,13,905	87,115	41,812
54,500	6,51,000	51,275	48,134
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
55,700	3,41,390	-1,34,505	2,26,300
50,000	2,08,530	-63,665	7,443
Top PUT Volume:
Strike	OI	OI Change	Volume
55,700	3,41,390	-1,34,505	2,26,300
55,600	2,99,005	7,875	1,62,706

FINNIFTY Monthly Expiry (28/08/2025)

The FINNIFTY index closed at 26487.8. The FINNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.762 against previous 0.841. The 27000CE option holds the maximum open interest, followed by the 26500PE and 26500CE options. Market participants have shown increased interest with significant open interest additions in the 26500PE option, with open interest additions also seen in the 25500PE and 26500CE options. On the other hand, open interest reductions were prominent in the 24800PE, 26700CE, and 26600PE options. Trading volume was highest in the 26500CE option, followed by the 26500PE and 26600CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,487.80	0.762	0.841	0.838
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	14,09,980	12,43,580	1,66,400
PUT:	10,74,190	10,46,305	27,885
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,000	1,59,900	10,075	7,488
26,500	1,39,750	42,250	12,183
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,500	1,39,750	42,250	12,183
28,000	84,370	40,625	1,963
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,700	67,470	-20,085	6,362
27,600	41,145	-15,015	542
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	1,39,750	42,250	12,183
26,600	1,06,340	4,290	8,259
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,500	1,40,920	53,885	10,519
25,500	1,08,810	49,465	2,872
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,500	1,40,920	53,885	10,519
25,500	1,08,810	49,465	2,872
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,800	8,190	-21,515	1,496
26,600	79,105	-19,370	3,607
Top PUT Volume:
Strike	OI	OI Change	Volume
26,500	1,40,920	53,885	10,519
26,000	79,430	-19,305	7,033

MIDCPNIFTY Monthly Expiry (28/08/2025)

The MIDCPNIFTY index closed at 12999.8. The MIDCPNIFTY monthly expiry for AUGUST 28, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.338 against previous 1.123. 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 13000PE option, with open interest additions also seen in the 12500PE and 12400PE options. On the other hand, open interest reductions were prominent in the 67000CE, 66500PE, and 66500CE options. Trading volume was highest in the 13000CE option, followed by the 12900PE and 13000PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	28-08-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,999.80	1.338	1.123	1.135
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	77,86,380	73,76,180	4,10,200
PUT:	1,04,15,860	82,81,560	21,34,300
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,500	8,53,720	1,70,520	17,982
13,000	7,40,600	68,600	37,594
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,500	8,53,720	1,70,520	17,982
13,400	4,22,660	1,42,380	11,007
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
12,900	3,02,120	-1,80,040	24,195
12,800	3,34,180	-1,26,980	6,419
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	7,40,600	68,600	37,594
13,100	4,25,460	1,05,420	26,421
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,000	9,32,820	91,280	11,084
13,000	9,28,900	4,98,120	26,863
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,000	9,28,900	4,98,120	26,863
12,500	8,97,820	2,52,000	18,619
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,700	3,59,380	-80,640	14,231
12,300	3,05,200	-78,540	10,163
Top PUT Volume:
Strike	OI	OI Change	Volume
12,900	5,68,680	1,84,240	28,360
13,000	9,28,900	4,98,120	26,863

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

This session’s Open Interest Volume Analysis suggests that Nifty is set for a calm expiry near the 25,000 mark, with both puts and calls converging around this strike and short covering providing upward support. The smart play is to stick with neutral strategies—credit spreads, iron condors, or straddles around the 25,000 zone—while avoiding aggressive directional bets unless there is a clear shift in open interest and volume. In BankNifty and FINNIFTY, tread carefully: sellers remain in control, and a break below key supports could bring a quick downside move. In contrast, MIDCPNIFTY shows the most strength—aggressive traders may ride the trend, but stops are a must given expiry volatility. Take your cues from this Open Interest Volume Analysis: keep risk tight, play for the range, and stay ready to pivot as new money moves in post-expiry.

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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