NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 29/08/2025

The Open Interest Volume Analysis for 29th August 2025 points to ongoing caution, with traders showing little appetite for a turnaround after the sharp selloff that marked the series’ start. Nifty September futures closed at 24,568.50, down 0.34% as fresh shorts piled in—evidenced by a 3.6% rise in open interest—even as both the premium and trading volume declined. The options landscape reinforces this defensive tone: the weekly Put-Call Ratio (OI) has dropped further to just 0.54, and aggressive call writing is concentrated at 24,500 and 25,000 strikes, both of which now act as resistance barricades. Monthly option trends echo this, with the PCR dipping and max pain parked at 24,900, suggesting an expiry gravitating toward this level and rallies finding a ceiling near 25,000.

BankNifty followed suit, with September futures slipping 0.37%, premium softening, and a 2.2% open interest rise showing ongoing bearish bets. Major call open interest at 55,000–57,000 reinforces the cautious mood, even as put writers defend 54,000 and 52,500 levels. In FINNIFTY, a round of long covering accompanied price decline, but PCR moved higher—hinting that short positions are locking profits and volatility could increase near 25,800. MIDCPNIFTY futures also posted fresh shorts, with monthly PCR easing to 1.19 and max pain shifting down to 12,600. SENSEX showed more of the same, with declining premium and rising open interest confirming traders are not ready to chase upside ahead of September’s expiry cycle.

NSE & BSE F&O Market Signals

NIFTY SEPTEMBER Future

NIFTY Spot closed at: 24,426.85 (-0.30%)

NIFTY SEPTEMBER Future closed at: 24,568.50 (-0.34%)

Premium: 141.65 (Decreased by -9.15 points)

Open Interest Change: 3.6%

Volume Change: -43.0%

Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (2/09/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.541 (Decreased from 0.644)

Put-Call Ratio (Volume): 1.040

Max Pain Level: 24500

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 23500

Highest CALL Addition: 24500

Highest PUT Addition: 23500

NIFTY Monthly Expiry (30/09/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.171 (Decreased from 1.195)

Put-Call Ratio (Volume): 0.872

Max Pain Level: 24900

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25000

Highest PUT Addition: 24500

BANKNIFTY SEPTEMBER Future

BANKNIFTY Spot closed at: 53,655.65 (-0.31%)

BANKNIFTY SEPTEMBER Future closed at: 54,060.40 (-0.37%)

Premium: 404.75 (Decreased by -34.3 points)

Open Interest Change: 2.2%

Volume Change: -55.9%

Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (30/09/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.859 (Decreased from 0.930)

Put-Call Ratio (Volume): 0.909

Max Pain Level: 55000

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 54000

Highest CALL Addition: 55000

Highest PUT Addition: 52500

FINNIFTY SEPTEMBER Future

FINNIFTY Spot closed at: 25,567.70 (-0.28%)

FINNIFTY SEPTEMBER Future closed at: 25,768.30 (-0.34%)

Premium:  200.6 (Decreased by -14.2 points)

Open Interest Change: -2.2%

Volume Change: -72.5%

Open Interest Analysis: Long Covering

FINNIFTY Monthly Expiry  (30/09/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.128 (Increased from 0.541)

Put-Call Ratio (Volume): 1.053

Max Pain Level: 25800

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26000

Highest PUT Addition: 25000

MIDCPNIFTY SEPTEMBER Future

MIDCPNIFTY Spot closed at: 12,450.20 (-0.68%)

MIDCPNIFTY SEPTEMBER Future closed at: 12,515.70 (-0.62%)

Premium: 65.5 (Increased by 6.7 points)

Open Interest Change: 2.4%

Volume Change: -54.0%

Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry  (30/09/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.191 (Decreased from 1.508)

Put-Call Ratio (Volume): 0.998

Max Pain Level: 12600

Maximum CALL Open Interest: 13000

Maximum PUT Open Interest: 12000

Highest CALL Addition: 13000

Highest PUT Addition: 11800

SENSEX Monthly Expiry (25/09/2025) Future

SENSEX Spot closed at: 79,809.65 (-0.34%)

SENSEX Monthly Future closed at: 80,384.65 (-0.34%)

Premium: 575 (Decreased by -4.73 points)

Open Interest Change: 4.5%

Volume Change: -13.0%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (4/09/2025) Option Analysis

Put-Call Ratio (OI): 0.539 (Decreased from 0.636)

Put-Call Ratio (Volume): 1.075

Max Pain Level: 80200

Maximum CALL OI: 81000

Maximum PUT OI: 79000

Highest CALL Addition: 81000

Highest PUT Addition: 72400

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 8,312.66 Cr
DIIs Net BUY: ₹ 11,487.64 Cr

FII Derivatives Activity

FII Trading Stats	29.08.25	28.08.25	26.08.25
FII Cash (Provisional Data)	-8,312.66	-3,856.51	-6,516.49
Index Future Open Interest Long Ratio	8.60%	8.24%	14.32%
Index Future Volume Long Ratio	41.33%	45.11%	48.00%
Call Option Open Interest Long Ratio	45.86%	45.81%	47.33%
Call Option Volume Long Ratio	49.75%	49.94%	49.96%
Put Option Open Interest Long Ratio	67.80%	75.15%	66.34%
Put Option Volume Long Ratio	49.92%	50.01%	50.20%
Stock Future Open Interest Long Ratio	62.44%	62.27%	62.03%
Stock Future Volume Long Ratio	52.36%	49.21%	49.95%
Index Futures	Fresh Short	Long Covering	Fresh Short
Index Options	Fresh Short	Long Covering	Fresh Long
Nifty Futures	Fresh Short	Long Covering	Fresh Short
Nifty Options	Fresh Short	Short Covering	Fresh Long
BankNifty Futures	Long Covering	Long Covering	Long Covering
BankNifty Options	Fresh Long	Long Covering	Fresh Long
FinNifty Futures	Long Covering	Fresh Short	Long Covering
FinNifty Options	Fresh Short	Long Covering	Fresh Long
MidcpNifty Futures	Fresh Long	Long Covering	Fresh Short
MidcpNifty Options	Fresh Short	Short Covering	Fresh Short
NiftyNxt50 Futures	Short Covering	Long Covering	Fresh Short
NiftyNxt50 Options	Fresh Long	Long Covering	Fresh Short
Stock Futures	Fresh Long	Long Covering	Short Covering
Stock Options	Fresh Long	Long Covering	Long Covering

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

NIFTY Weekly Expiry (2/09/2025)

The NIFTY index closed at 24426.85. The NIFTY weekly expiry for SEPTEMBER 2, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.541 against previous 0.644. The 25000CE option holds the maximum open interest, followed by the 24600CE and 24500CE options. Market participants have shown increased interest with significant open interest additions in the 24500CE option, with open interest additions also seen in the 24600CE and 25000CE options. On the other hand, open interest reductions were prominent in the 24800PE, 25000PE, and 24650PE options. Trading volume was highest in the 24500PE option, followed by the 24600CE and 24500CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	02-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,426.85	0.541	0.644	1.040
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	19,30,97,850	9,92,26,350	9,38,71,500
PUT:	10,43,94,525	6,38,88,375	4,05,06,150
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	1,65,61,800	69,57,075	16,47,199
24,600	1,24,82,175	80,71,725	57,47,582
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,500	1,23,94,950	93,32,775	56,88,345
24,600	1,24,82,175	80,71,725	57,47,582
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,600	2,30,250	-29,925	22,958
26,050	3,80,325	-2,550	48,091
Top CALL Volume:
Strike	OI	OI Change	Volume
24,600	1,24,82,175	80,71,725	57,47,582
24,500	1,23,94,950	93,32,775	56,88,345
Top PUT Open Interest:
Strike	OI	OI Change	Volume
23,500	1,03,30,650	61,92,900	7,20,771
24,000	77,86,200	18,82,950	12,77,755
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,500	1,03,30,650	61,92,900	7,20,771
24,400	77,38,575	49,22,625	48,37,133
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,800	11,51,925	-5,00,025	2,16,378
25,000	12,74,550	-4,48,650	38,080
Top PUT Volume:
Strike	OI	OI Change	Volume
24,500	54,94,800	6,02,925	89,28,752
24,400	77,38,575	49,22,625	48,37,133

SENSEX Weekly Expiry (4/09/2025)

The SENSEX index closed at 79809.65. The SENSEX weekly expiry for SEPTEMBER 4, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.539 against previous 0.636. The 81000CE option holds the maximum open interest, followed by the 83000CE and 82000CE options. Market participants have shown increased interest with significant open interest additions in the 81000CE option, with open interest additions also seen in the 80000CE and 82000CE options. On the other hand, open interest reductions were prominent in the 83500CE, 76200PE, and 78100PE options. Trading volume was highest in the 80000PE option, followed by the 80200PE and 80100PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	04-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
79809.65	0.539	0.636	1.075
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,31,96,460	79,69,540	52,26,920
PUT:	71,12,040	50,69,820	20,42,220
Top CALL Open Interest:
Strike	OI	OI Change	Volume
81000	9,59,560	3,49,540	1,45,52,720
83000	7,06,080	1,35,240	55,81,200
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
81000	9,59,560	3,49,540	1,45,52,720
80000	4,13,480	2,74,460	1,31,26,040
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
83500	2,39,560	-39,660	34,97,980
83400	52,440	-29,600	6,09,160
Top CALL Volume:
Strike	OI	OI Change	Volume
80500	5,85,520	2,29,220	1,78,27,920
80200	3,48,500	2,24,080	1,55,83,620
Top PUT Open Interest:
Strike	OI	OI Change	Volume
79000	4,13,360	1,32,540	1,14,77,240
80000	3,58,040	97,320	3,10,36,940
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
72400	2,76,720	1,91,520	8,82,480
79800	2,64,380	1,89,240	1,32,10,640
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
76200	19,820	-33,820	6,09,280
78100	36,800	-32,800	20,76,860
Top PUT Volume:
Strike	OI	OI Change	Volume
80000	3,58,040	97,320	3,10,36,940
80200	1,39,600	-18,680	2,19,92,180

NIFTY Monthly Expiry (30/09/2025)

The NIFTY index closed at 24426.85. The NIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.171 against previous 1.195. The 25000CE option holds the maximum open interest, followed by the 24000PE and 24500PE options. Market participants have shown increased interest with significant open interest additions in the 25000CE option, with open interest additions also seen in the 24500CE and 24500PE options. On the other hand, open interest reductions were prominent in the 25000PE, 25900CE, and 26000CE options. Trading volume was highest in the 24500PE option, followed by the 24000PE and 25000CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,426.85	1.171	1.195	0.872
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,11,68,925	3,74,01,975	37,66,950
PUT:	4,82,03,175	4,47,02,625	35,00,550
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	57,68,550	5,79,075	65,935
26,000	40,33,950	-93,525	46,385
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,000	57,68,550	5,79,075	65,935
24,500	21,53,175	5,29,050	61,951
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,900	4,32,750	-95,250	16,831
26,000	40,33,950	-93,525	46,385
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	57,68,550	5,79,075	65,935
24,500	21,53,175	5,29,050	61,951
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	47,96,625	2,10,150	74,301
24,500	45,88,950	5,05,425	87,414
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,500	45,88,950	5,05,425	87,414
24,400	8,66,850	2,70,750	24,524
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	43,33,350	-2,76,300	21,617
25,200	4,88,100	-34,950	2,369
Top PUT Volume:
Strike	OI	OI Change	Volume
24,500	45,88,950	5,05,425	87,414
24,000	47,96,625	2,10,150	74,301

BANKNIFTY Monthly Expiry (30/09/2025)

The BANKNIFTY index closed at 53655.65. The BANKNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.859 against previous 0.930. The 57000CE option holds the maximum open interest, followed by the 56000CE and 54000PE options. Market participants have shown increased interest with significant open interest additions in the 55000CE option, with open interest additions also seen in the 57500CE and 54000CE options. On the other hand, open interest reductions were prominent in the 54700PE, 56500PE, and 57500PE options. Trading volume was highest in the 54000PE option, followed by the 54000CE and 55000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
53,655.65	0.859	0.930	0.909
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,28,62,180	1,00,45,230	28,16,950
PUT:	1,10,46,185	93,46,920	16,99,265
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	18,39,180	1,96,785	62,214
56,000	12,23,215	1,99,990	62,724
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
55,000	10,56,475	2,67,610	1,07,745
57,500	6,45,890	2,48,605	38,552
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
50,500	4,760	-1,260	90
62,000	60,375	-1,085	2,571
Top CALL Volume:
Strike	OI	OI Change	Volume
54,000	8,95,315	2,13,250	1,34,648
55,000	10,56,475	2,67,610	1,07,745
Top PUT Open Interest:
Strike	OI	OI Change	Volume
54,000	10,77,855	1,00,770	1,63,244
57,000	10,29,345	25,655	2,602
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
52,500	5,67,240	1,67,530	33,094
52,000	5,85,865	1,22,955	39,050
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
54,700	39,795	-5,250	2,105
56,500	1,20,050	-5,145	586
Top PUT Volume:
Strike	OI	OI Change	Volume
54,000	10,77,855	1,00,770	1,63,244
53,900	99,680	19,110	88,521

FINNIFTY Monthly Expiry (30/09/2025)

The FINNIFTY index closed at 25567.7. The FINNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.128 against previous 0.541. The 25000PE option holds the maximum open interest, followed by the 26000CE and 25700PE options. Market participants have shown increased interest with significant open interest additions in the 25000PE option, with open interest additions also seen in the 25700PE and 26000CE options. On the other hand, open interest reductions were prominent in the 24800CE, 24800CE, and 24800CE options. Trading volume was highest in the 25700PE option, followed by the 26000CE and 25000PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,567.70	1.128	0.541	1.053
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,72,805	52,780	2,20,025
PUT:	3,07,840	28,535	2,79,305
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	58,630	42,055	4,206
26,500	48,685	28,340	2,249
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	58,630	42,055	4,206
25,700	31,525	31,265	2,480
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
–	–	–	–
–	–	–	–
Top CALL Volume:
Strike	OI	OI Change	Volume
26,000	58,630	42,055	4,206
25,700	31,525	31,265	2,480
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	76,375	69,160	2,989
25,700	51,870	51,090	4,860
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,000	76,375	69,160	2,989
25,700	51,870	51,090	4,860
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
–	–	–	–
–	–	–	–
Top PUT Volume:
Strike	OI	OI Change	Volume
25,700	51,870	51,090	4,860
25,000	76,375	69,160	2,989

MIDCPNIFTY Monthly Expiry (30/09/2025)

The MIDCPNIFTY index closed at 12450.2. The MIDCPNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.191 against previous 1.508. The 12000PE option holds the maximum open interest, followed by the 13000CE and 12500PE options. Market participants have shown increased interest with significant open interest additions in the 13000CE option, with open interest additions also seen in the 11800PE and 12200PE options. On the other hand, open interest reductions were prominent in the 68100PE, 68100PE, and 68100PE options. Trading volume was highest in the 12500PE option, followed by the 13000CE and 12000PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,450.20	1.191	1.508	0.998
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	31,84,580	16,12,800	15,71,780
PUT:	37,93,020	24,31,940	13,61,080
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,000	6,96,360	2,74,960	19,241
14,000	4,02,780	1,55,680	5,139
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,000	6,96,360	2,74,960	19,241
12,600	2,90,920	1,82,420	14,974
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	30,520	-1,960	511
–	–	–	–
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	6,96,360	2,74,960	19,241
12,600	2,90,920	1,82,420	14,974
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,000	7,89,040	51,660	16,075
12,500	4,79,920	10,780	25,084
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
11,800	2,23,300	1,90,540	5,377
12,200	1,86,620	1,86,620	3,199
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,400	1,36,220	-8,540	8,241
12,300	2,22,740	-2,800	3,630
Top PUT Volume:
Strike	OI	OI Change	Volume
12,500	4,79,920	10,780	25,084
12,000	7,89,040	51,660	16,075

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

This session’s Open Interest Volume Analysis confirms that defenders are still in control, with fresh shorts and premium narrowing across Nifty, BankNifty, and most broad indices. For the immediate week, expect rallies to face resistance near 24,500–25,000, and range-based strategies (spreads, condors, or cautiously placed bear calls) remain best suited to capture expiry dynamics. Sharp unwinding in FINNIFTY and MIDCPNIFTY calls for nimble profit booking if volatility spikes, while in BankNifty, keep a close eye on open interest—moves below 54,000 could accelerate downward pressure even further. Through September, let the Open Interest Volume Analysis steer trading: stick to risk-managed setups, fade sudden spikes, and remain agile as the bear trend tries to settle the new range.

Check Previous Day’s NSE & BSE Indices F&O Analysis

FII / FPI trading activity in Capital Market Segment

NSE Derivatives Raw Data

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