NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 9/09/2025

The Open Interest Volume Analysis for 9th September 2025 exposes a market boiling just beneath the surface, as Nifty sees more profit-taking and sideways movement after short covering. Nifty September futures climbed a mild 0.23% to 24,950.30, yet open interest fell by 0.2% and premium slashed by almost 38 points—a sign that bulls are booking profits and not piling on new positions. Weekly option data reveals a balanced Put-Call Ratio (OI) of 0.93, with call writers dominating 25,000 strikes to cap upside, while put support at 24,900 keeps the index from slipping too far below the max pain level at 24,850.

BankNifty painted a cautionary picture, barely moved in price but open interest added 1.1%, showing fresh shorts coming in. Options data highlights that sellers continue to build above 54,600, while buyers cling to put strength around 54,000—for now, ranges are firm but bias favors bears. FINNIFTY matches the tone, shedding ground and seeing new shorts, while MIDCPNIFTY and SENSEX only propped up mildly on short covering rather than new bullish power. Overall, the expiry landscape looks range-bound with bursts of tactical trading.

NSE & BSE F&O Market Signals

NIFTY SEPTEMBER Future

NIFTY Spot closed at: 24,868.60 (0.39%)

NIFTY SEPTEMBER Future closed at: 24,950.30 (0.23%)

Premium: 81.7 (Decreased by -37.85 points)

Open Interest Change: -0.2%

Volume Change: -37.9%

Open Interest Analysis: Short Covering

NIFTY Weekly Expiry (16/09/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.932 (Decreased from 0.936)

Put-Call Ratio (Volume): 0.914

Max Pain Level: 24850

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25700

Highest PUT Addition: 24900

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

Put-Call Ratio (Open Interest): 1.125 (Increased from 1.095)

Put-Call Ratio (Volume): 1.057

Max Pain Level: 24950

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24500

Highest CALL Addition: 25000

Highest PUT Addition: 24350

BANKNIFTY SEPTEMBER Future

BANKNIFTY Spot closed at: 54,216.10 (0.05%)

BANKNIFTY SEPTEMBER Future closed at: 54,468.40 (-0.06%)

Premium: 252.3 (Decreased by -60.6 points)

Open Interest Change: 1.1%

Volume Change: -42.9%

Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.911 (Decreased from 0.922)

Put-Call Ratio (Volume): 1.025

Max Pain Level: 54600

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 54000

Highest CALL Addition: 55000

Highest PUT Addition: 51000

FINNIFTY SEPTEMBER Future

FINNIFTY Spot closed at: 25,961.95 (0.07%)

FINNIFTY SEPTEMBER Future closed at: 26,070.90 (-0.03%)

Premium:  108.95 (Decreased by -27.15 points)

Open Interest Change: 0.2%

Volume Change: -36.4%

Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.890 (Decreased from 0.900)

Put-Call Ratio (Volume): 1.355

Max Pain Level: 25900

Maximum CALL Open Interest: 26500

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26500

Highest PUT Addition: 24000

MIDCPNIFTY SEPTEMBER Future

MIDCPNIFTY Spot closed at: 12,883.50 (0.33%)

MIDCPNIFTY SEPTEMBER Future closed at: 12,927.05 (0.37%)

Premium: 43.55 (Increased by 5.4 points)

Open Interest Change: -1.0%

Volume Change: -37.1%

Open Interest Analysis: Short Covering

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

Put-Call Ratio (Open Interest): 1.289 (Increased from 1.217)

Put-Call Ratio (Volume): 0.853

Max Pain Level: 12850

Maximum CALL Open Interest: 13500

Maximum PUT Open Interest: 12500

Highest CALL Addition: 13200

Highest PUT Addition: 12500

SENSEX Monthly Expiry (25/09/2025) Future

SENSEX Spot closed at: 81,101.32 (0.39%)

SENSEX Monthly Future closed at: 81,383.70 (0.22%)

Premium: 282.38 (Decreased by -131.52 points)

Open Interest Change: -2.0%

Volume Change: -29.7%

Open Interest Analysis: Short Covering

SENSEX Weekly Expiry (11/09/2025) Option Analysis

Put-Call Ratio (OI): 0.983 (Increased from 0.842)

Put-Call Ratio (Volume): 0.982

Max Pain Level: 81000

Maximum CALL OI: 83000

Maximum PUT OI: 81000

Highest CALL Addition: 83000

Highest PUT Addition: 81000

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 2,050.46 Cr.
DIIs Net BUY: ₹ 83.08 Cr.

FII Derivatives Activity

FII Trading Stats	9.09.25	8.09.25	5.09.25
FII Cash (Provisional Data)	2,050.46	-2,170.35	-1,304.91
Index Future Open Interest Long Ratio	8.71%	7.99%	7.43%
Index Future Volume Long Ratio	55.00%	50.12%	44.05%
Call Option Open Interest Long Ratio	48.34%	50.34%	47.92%
Call Option Volume Long Ratio	50.06%	50.34%	50.11%
Put Option Open Interest Long Ratio	71.10%	62.90%	64.88%
Put Option Volume Long Ratio	49.83%	50.01%	50.08%
Stock Future Open Interest Long Ratio	62.51%	62.52%	62.38%
Stock Future Volume Long Ratio	49.97%	51.99%	49.75%
Index Futures	Fresh Long	Fresh Long	Fresh Short
Index Options	Long Covering	Fresh Long	Fresh Long
Nifty Futures	Fresh Long	Fresh Short	Fresh Short
Nifty Options	Long Covering	Fresh Long	Fresh Long
BankNifty Futures	Fresh Short	Fresh Long	Short Covering
BankNifty Options	Long Covering	Fresh Long	Fresh Long
FinNifty Futures	Fresh Long	Fresh Short	Short Covering
FinNifty Options	Fresh Short	Fresh Long	Fresh Short
MidcpNifty Futures	Short Covering	Fresh Long	Fresh Short
MidcpNifty Options	Fresh Short	Fresh Long	Fresh Long
NiftyNxt50 Futures	Fresh Long	Fresh Short	Long Covering
NiftyNxt50 Options	Fresh Short	Fresh Long	Fresh Long
Stock Futures	Fresh Short	Fresh Long	Fresh Short
Stock Options	Fresh Long	Fresh Long	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

NIFTY Weekly Expiry (16/09/2025)

The NIFTY index closed at 24868.6. The NIFTY weekly expiry for SEPTEMBER 16, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.932 against previous 0.936. The 25000CE option holds the maximum open interest, followed by the 25500CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 25700CE option, with open interest additions also seen in the 25500CE and 24900PE options. On the other hand, open interest reductions were prominent in the 24750CE, 24700CE, and 26550CE options. Trading volume was highest in the 25000CE option, followed by the 24800PE and 24900CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	16-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,868.60	0.932	0.936	0.914
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,58,78,275	3,52,88,550	3,05,89,725
PUT:	6,13,90,725	3,30,25,050	2,83,65,675
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	55,00,500	22,69,425	4,70,951
25,500	49,65,450	24,48,525	2,07,015
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,700	37,28,475	26,68,275	1,30,061
25,500	49,65,450	24,48,525	2,07,015
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,750	2,60,850	-81,900	43,661
24,700	8,64,300	-45,375	70,587
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	55,00,500	22,69,425	4,70,951
24,900	39,39,300	24,27,375	4,45,733
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	45,82,875	21,79,125	1,48,189
24,800	41,28,975	22,79,625	4,55,802
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,900	33,48,900	24,33,075	3,60,557
24,800	41,28,975	22,79,625	4,55,802
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
–	–	–	–
–	–	–	–
Top PUT Volume:
Strike	OI	OI Change	Volume
24,800	41,28,975	22,79,625	4,55,802
24,900	33,48,900	24,33,075	3,60,557

SENSEX Weekly Expiry (11/09/2025)

The SENSEX index closed at 81101.32. The SENSEX weekly expiry for SEPTEMBER 11, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.983 against previous 0.842. The 83000CE option holds the maximum open interest, followed by the 82500CE and 81000PE options. Market participants have shown increased interest with significant open interest additions in the 83000CE option, with open interest additions also seen in the 82500CE and 81000PE options. On the other hand, open interest reductions were prominent in the 80800CE, 88000CE, and 77100PE options. Trading volume was highest in the 81000PE option, followed by the 81000CE and 81100CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	11-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81101.32	0.983	0.842	0.982
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,10,35,060	1,16,69,440	93,65,620
PUT:	2,06,73,860	98,25,300	1,08,48,560
Top CALL Open Interest:
Strike	OI	OI Change	Volume
83000	17,64,080	10,86,340	69,28,100
82500	16,70,820	10,46,160	64,10,060
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
83000	17,64,080	10,86,340	69,28,100
82500	16,70,820	10,46,160	64,10,060
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
80800	1,49,080	-67,080	50,19,160
88000	1,06,680	-50,360	4,09,680
Top CALL Volume:
Strike	OI	OI Change	Volume
81000	9,92,460	1,79,260	2,87,08,140
81100	7,05,120	3,41,840	2,35,82,880
Top PUT Open Interest:
Strike	OI	OI Change	Volume
81000	14,19,180	8,80,260	3,61,52,560
79000	13,47,820	8,24,620	49,41,760
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
81000	14,19,180	8,80,260	3,61,52,560
79000	13,47,820	8,24,620	49,41,760
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
77100	24,460	-32,460	2,91,180
76900	18,100	-12,860	1,50,380
Top PUT Volume:
Strike	OI	OI Change	Volume
81000	14,19,180	8,80,260	3,61,52,560
81100	6,77,760	5,56,080	2,12,10,900

NIFTY Monthly Expiry (30/09/2025)

The NIFTY index closed at 24868.6. The NIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.125 against previous 1.095. The 25000CE option holds the maximum open interest, followed by the 24500PE and 25000PE options. Market participants have shown increased interest with significant open interest additions in the 24350PE option, with open interest additions also seen in the 25000CE and 25000PE options. On the other hand, open interest reductions were prominent in the 24500CE, 23000PE, and 23500PE options. Trading volume was highest in the 25000CE option, followed by the 24500PE and 24800PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,868.60	1.125	1.095	1.057
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,66,39,725	4,66,82,550	-42,825
PUT:	5,24,61,150	5,11,25,400	13,35,750
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	61,15,725	2,34,975	62,411
26,000	42,70,875	-44,625	18,322
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,000	61,15,725	2,34,975	62,411
25,200	20,94,225	65,325	20,584
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	16,44,675	-1,65,450	12,361
24,700	16,83,675	-92,325	10,288
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	61,15,725	2,34,975	62,411
25,500	40,18,425	24,750	37,097
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,500	43,67,625	1,13,625	44,450
25,000	43,48,275	2,12,400	38,264
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,350	4,35,750	3,44,025	7,799
25,000	43,48,275	2,12,400	38,264
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,000	31,90,950	-1,51,500	11,883
23,500	21,32,700	-1,26,075	11,091
Top PUT Volume:
Strike	OI	OI Change	Volume
24,500	43,67,625	1,13,625	44,450
24,800	19,42,500	73,500	39,043

BANKNIFTY Monthly Expiry (30/09/2025)

The BANKNIFTY index closed at 54216.1. The BANKNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.911 against previous 0.922. The 57000CE option holds the maximum open interest, followed by the 55000CE 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 54200CE and 54500CE options. On the other hand, open interest reductions were prominent in the 57000CE, 42000PE, and 55800CE options. Trading volume was highest in the 54000PE option, followed by the 54200PE and 54200CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
54,216.10	0.911	0.922	1.025
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,61,11,375	1,55,00,385	6,10,990
PUT:	1,46,84,300	1,42,97,225	3,87,075
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	18,84,280	-84,035	33,979
55,000	14,25,830	1,02,935	79,066
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
55,000	14,25,830	1,02,935	79,066
54,200	2,93,930	96,635	96,854
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
57,000	18,84,280	-84,035	33,979
55,800	1,93,970	-24,395	9,545
Top CALL Volume:
Strike	OI	OI Change	Volume
54,200	2,93,930	96,635	96,854
54,500	7,79,030	80,780	87,575
Top PUT Open Interest:
Strike	OI	OI Change	Volume
54,000	13,97,220	7,700	1,15,822
57,000	10,49,785	-3,290	189
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
51,000	6,55,660	60,455	20,999
54,100	1,98,030	47,180	59,768
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
42,000	1,30,725	-27,510	2,163
53,500	7,10,185	-21,560	41,555
Top PUT Volume:
Strike	OI	OI Change	Volume
54,000	13,97,220	7,700	1,15,822
54,200	2,79,440	28,980	1,14,958

FINNIFTY Monthly Expiry (30/09/2025)

The FINNIFTY index closed at 25961.95. The FINNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.890 against previous 0.900. The 26500CE option holds the maximum open interest, followed by the 26000PE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 26500CE option, with open interest additions also seen in the 24000PE and 25950CE options. On the other hand, open interest reductions were prominent in the 25500PE, 27500CE, and 26050PE options. Trading volume was highest in the 26500CE option, followed by the 26000PE and 25500PE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,961.95	0.890	0.900	1.355
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,92,770	6,52,145	40,625
PUT:	6,16,460	5,86,950	29,510
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,500	1,47,615	18,070	4,129
26,000	93,080	9,945	2,356
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,500	1,47,615	18,070	4,129
25,950	22,230	12,675	1,444
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,500	51,155	-5,655	380
28,000	12,870	-2,535	156
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	1,47,615	18,070	4,129
26,000	93,080	9,945	2,356
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	95,615	12,090	3,111
23,000	61,490	910	300
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	39,065	15,990	1,112
26,000	95,615	12,090	3,111
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,500	44,590	-24,050	2,667
26,050	6,175	-4,940	775
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	95,615	12,090	3,111
25,500	44,590	-24,050	2,667

MIDCPNIFTY Monthly Expiry (30/09/2025)

The MIDCPNIFTY index closed at 12883.5. The MIDCPNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.289 against previous 1.217. The 12500PE option holds the maximum open interest, followed by the 12000PE and 13500CE options. Market participants have shown increased interest with significant open interest additions in the 12500PE option, with open interest additions also seen in the 11500PE and 12875PE options. On the other hand, open interest reductions were prominent in the 64200PE, 64200PE, and 64200CE options. Trading volume was highest in the 12900CE option, followed by the 13000CE and 12900PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,883.50	1.289	1.217	0.853
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	52,06,880	51,75,940	30,940
PUT:	67,09,220	62,97,760	4,11,460
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,500	6,21,320	-11,620	5,081
14,000	5,23,600	5,740	1,799
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,200	5,08,060	38,640	10,797
13,700	1,70,240	28,840	1,095
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
12,950	71,680	-38,640	2,448
12,850	74,760	-29,540	9,836
Top CALL Volume:
Strike	OI	OI Change	Volume
12,900	3,81,640	19,320	20,048
13,000	5,07,360	7,420	12,675
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,500	8,92,780	1,67,720	6,045
12,000	7,16,660	-18,200	2,965
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,500	8,92,780	1,67,720	6,045
11,500	3,53,780	66,360	1,080
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,100	1,74,020	-50,960	1,126
12,400	2,31,840	-22,120	1,979
Top PUT Volume:
Strike	OI	OI Change	Volume
12,900	3,46,080	44,660	11,316
12,850	1,60,580	52,220	10,206

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

“How Do YOU Trade This? Open Interest Volume Analysis Offers an Edge.”
This session’s Open Interest Volume Analysis makes clear that smart traders should lean toward option strategies that thrive in consolidation—credit spreads, iron condors, and straddles between 24,500 and 25,000 for Nifty. For BankNifty and FINNIFTY, trail shorts using open interest cues and keep stops tight. In midcaps, play quick scalps off short covering as the real momentum might wait until after expiry. Lean on this week’s open interest volume trends for triggers—watch for fresh OI additions alongside price moves to jump in when conviction returns.

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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