NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 10/09/2025

The Open Interest Volume Analysis for 10th September 2025 uncovers a clear shift in sentiment, as the Nifty September futures rallied 0.49% to 25,072.30 on strong buying, an open interest increase of 1.8%, and a fiery 78% surge in volume. Fresh long buildup is in play, and the premium widened by 17.5 points—signifying strong demand and robust risk-taking. Weekly and monthly option chains agree: a Put-Call Ratio (OI) at 1.10 for weekly and about 1.12 for monthly expiries shows put writers are getting bold near 25,000, with max pain also centering this key strike. Call open interest piles up at 26,000 and put writers reinforce 25,000, creating a tightly contested expiry battleground.

BANKNIFTY confirms expiry-driven short covering at higher prices, with a 0.59% future gain and a 3.8% drop in open interest—evidence of bears stepping aside, and bulls gaining confidence. Options data reveals renewed support at 54,600 and hefty calls at 57,000, reinforcing the short-term range. FINNIFTY, MIDCPNIFTY, and SENSEX all reflect a day of aggressive short covering with strong price and volume spikes, suggesting that indices may be primed for upside if fresh longs keep adding.

NSE & BSE F&O Market Signals

NIFTY SEPTEMBER Future

NIFTY Spot closed at: 24,973.10 (0.42%)

NIFTY SEPTEMBER Future closed at: 25,072.30 (0.49%)

Premium: 99.2 (Increased by 17.5 points)

Open Interest Change: 1.8%

Volume Change: 78.4%

Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.108 (Increased from 0.932)

Put-Call Ratio (Volume): 0.864

Max Pain Level: 25000

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 26000

Highest PUT Addition: 25000

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

Put-Call Ratio (Open Interest): 1.118 (Decreased from 1.125)

Put-Call Ratio (Volume): 1.116

Max Pain Level: 25000

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25100

Highest PUT Addition: 25100

BANKNIFTY SEPTEMBER Future

BANKNIFTY Spot closed at: 54,536.00 (0.59%)

BANKNIFTY SEPTEMBER Future closed at: 54,791.80 (0.59%)

Premium: 255.8 (Increased by 3.5 points)

Open Interest Change: -3.8%

Volume Change: 78.2%

Open Interest Analysis: Short Covering

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

Put-Call Ratio (Open Interest): 0.979 (Increased from 0.911)

Put-Call Ratio (Volume): 0.754

Max Pain Level: 54800

Maximum CALL Open Interest: 57000

Maximum PUT Open Interest: 54000

Highest CALL Addition: 54600

Highest PUT Addition: 54500

FINNIFTY SEPTEMBER Future

FINNIFTY Spot closed at: 26,123.75 (0.62%)

FINNIFTY SEPTEMBER Future closed at: 26,239.30 (0.65%)

Premium:  115.55 (Increased by 6.6 points)

Open Interest Change: -1.2%

Volume Change: 54.5%

Open Interest Analysis: Short Covering

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

Put-Call Ratio (Open Interest): 1.122 (Increased from 0.890)

Put-Call Ratio (Volume): 0.906

Max Pain Level: 26000

Maximum CALL Open Interest: 26500

Maximum PUT Open Interest: 25500

Highest CALL Addition: 27000

Highest PUT Addition: 25500

MIDCPNIFTY SEPTEMBER Future

MIDCPNIFTY Spot closed at: 13,040.90 (1.22%)

MIDCPNIFTY SEPTEMBER Future closed at: 13,087.10 (1.24%)

Premium: 46.2 (Increased by 2.65 points)

Open Interest Change: -0.9%

Volume Change: 155.8%

Open Interest Analysis: Short Covering

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

Put-Call Ratio (Open Interest): 1.259 (Decreased from 1.289)

Put-Call Ratio (Volume): 1.037

Max Pain Level: 13000

Maximum CALL Open Interest: 13500

Maximum PUT Open Interest: 12000

Highest CALL Addition: 13500

Highest PUT Addition: 13000

SENSEX Monthly Expiry (25/09/2025) Future

SENSEX Spot closed at: 81,425.15 (0.40%)

SENSEX Monthly Future closed at: 81,754.50 (0.46%)

Premium: 329.35 (Increased by 46.97 points)

Open Interest Change: -3.1%

Volume Change: 79.7%

Open Interest Analysis: Short Covering

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

Put-Call Ratio (OI): 1.061 (Increased from 0.983)

Put-Call Ratio (Volume): 0.924

Max Pain Level: 81400

Maximum CALL OI: 83000

Maximum PUT OI: 81000

Highest CALL Addition: 82000

Highest PUT Addition: 81000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 115.69 Cr.
DIIs Net BUY: ₹ 5,004.29 Cr.

FII Derivatives Activity

FII Trading Stats	10.09.25	9.09.25	8.09.25
FII Cash (Provisional Data)	-115.69	2,050.46	-2,170.35
Index Future Open Interest Long Ratio	10.22%	8.71%	7.99%
Index Future Volume Long Ratio	56.31%	55.00%	50.12%
Call Option Open Interest Long Ratio	46.31%	48.34%	50.34%
Call Option Volume Long Ratio	49.56%	50.06%	50.34%
Put Option Open Interest Long Ratio	64.44%	71.10%	62.90%
Put Option Volume Long Ratio	49.49%	49.83%	50.01%
Stock Future Open Interest Long Ratio	62.60%	62.51%	62.52%
Stock Future Volume Long Ratio	50.83%	49.97%	51.99%
Index Futures	Fresh Long	Fresh Long	Fresh Long
Index Options	Fresh Short	Long Covering	Fresh Long
Nifty Futures	Fresh Long	Fresh Long	Fresh Short
Nifty Options	Fresh Short	Long Covering	Fresh Long
BankNifty Futures	Short Covering	Fresh Short	Fresh Long
BankNifty Options	Fresh Short	Long Covering	Fresh Long
FinNifty Futures	Fresh Short	Fresh Long	Fresh Short
FinNifty Options	Fresh Long	Fresh Short	Fresh Long
MidcpNifty Futures	Fresh Long	Short Covering	Fresh Long
MidcpNifty Options	Fresh Short	Fresh Short	Fresh Long
NiftyNxt50 Futures	Long Covering	Fresh Long	Fresh Short
NiftyNxt50 Options	Fresh Short	Fresh Short	Fresh Long
Stock Futures	Fresh Long	Fresh Short	Fresh Long
Stock Options	Fresh Long	Fresh Long	Fresh Long

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 24973.1. The NIFTY weekly expiry for SEPTEMBER 16, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.108 against previous 0.932. The 24000PE option holds the maximum open interest, followed by the 26000CE and 25000PE options. Market participants have shown increased interest with significant open interest additions in the 25000PE option, with open interest additions also seen in the 26000CE and 24000PE options. On the other hand, open interest reductions were prominent in the 24900CE, 24800CE, and 24850CE options. Trading volume was highest in the 25000CE option, followed by the 25000PE and 24950PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	16-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,973.10	1.108	0.932	0.864
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	11,27,79,150	6,58,78,275	4,69,00,875
PUT:	12,49,45,725	6,13,90,725	6,35,55,000
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	97,01,475	55,57,275	5,41,891
25,000	93,78,375	38,77,875	44,55,917
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	97,01,475	55,57,275	5,41,891
25,000	93,78,375	38,77,875	44,55,917
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,900	27,23,925	-12,15,375	12,06,513
24,800	17,82,750	-7,94,925	3,59,631
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	93,78,375	38,77,875	44,55,917
25,100	62,25,375	33,74,400	25,69,578
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	97,46,250	51,63,375	5,61,490
25,000	94,43,325	72,86,700	42,85,251
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,000	94,43,325	72,86,700	42,85,251
24,000	97,46,250	51,63,375	5,61,490
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,200	7,73,325	-2,10,975	75,997
23,300	8,65,200	-90,075	85,366
Top PUT Volume:
Strike	OI	OI Change	Volume
25,000	94,43,325	72,86,700	42,85,251
24,950	45,80,250	42,39,375	25,79,054

SENSEX Weekly Expiry (11/09/2025)

The SENSEX index closed at 81425.15. The SENSEX weekly expiry for SEPTEMBER 11, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.061 against previous 0.983. The 81000PE 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 81000PE option, with open interest additions also seen in the 81500PE and 82000CE options. On the other hand, open interest reductions were prominent in the 81200CE, 81000CE, and 81100CE options. Trading volume was highest in the 81500CE option, followed by the 81500PE and 82000CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	11-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
81425.15	1.061	0.983	0.924
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,06,64,660	2,10,35,060	96,29,600
PUT:	3,25,21,440	2,06,73,860	1,18,47,580
Top CALL Open Interest:
Strike	OI	OI Change	Volume
83000	26,03,440	8,39,360	2,55,09,880
82000	24,41,300	10,74,840	11,85,01,940
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
82000	24,41,300	10,74,840	11,85,01,940
81800	14,39,600	10,45,480	7,57,86,420
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
81200	2,76,300	-4,98,400	1,36,63,340
81000	4,99,800	-4,92,660	82,29,380
Top CALL Volume:
Strike	OI	OI Change	Volume
81500	14,67,260	3,15,760	12,27,39,440
82000	24,41,300	10,74,840	11,85,01,940
Top PUT Open Interest:
Strike	OI	OI Change	Volume
81000	28,49,800	14,30,620	10,34,79,160
79000	20,11,940	6,64,120	1,32,50,740
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
81000	28,49,800	14,30,620	10,34,79,160
81500	14,77,820	13,21,920	11,97,11,300
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
78000	9,67,720	-2,96,040	92,66,060
77500	4,54,460	-2,08,040	48,74,200
Top PUT Volume:
Strike	OI	OI Change	Volume
81500	14,77,820	13,21,920	11,97,11,300
81000	28,49,800	14,30,620	10,34,79,160

NIFTY Monthly Expiry (30/09/2025)

The NIFTY index closed at 24973.1. The NIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.118 against previous 1.125. 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 25100PE option, with open interest additions also seen in the 25100CE and 25500CE options. On the other hand, open interest reductions were prominent in the 25000CE, 24400PE, and 24200PE options. Trading volume was highest in the 25000CE option, followed by the 25000PE and 24500PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,973.10	1.118	1.125	1.116
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,57,16,775	4,66,39,725	-9,22,950
PUT:	5,10,90,900	5,24,61,150	-13,70,250
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	53,95,200	-7,20,525	1,32,445
26,000	45,32,625	2,61,750	48,592
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,100	15,93,825	3,70,275	37,487
25,500	43,56,450	3,38,025	70,242
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	53,95,200	-7,20,525	1,32,445
25,300	15,75,450	-2,83,650	33,514
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	53,95,200	-7,20,525	1,32,445
25,500	43,56,450	3,38,025	70,242
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	45,72,975	2,24,700	1,09,759
24,500	41,98,200	-1,69,425	72,469
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,100	9,87,825	3,91,125	27,285
25,000	45,72,975	2,24,700	1,09,759
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,400	13,08,525	-3,64,725	37,547
24,200	12,01,650	-3,52,575	29,719
Top PUT Volume:
Strike	OI	OI Change	Volume
25,000	45,72,975	2,24,700	1,09,759
24,500	41,98,200	-1,69,425	72,469

BANKNIFTY Monthly Expiry (30/09/2025)

The BANKNIFTY index closed at 54536. The BANKNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.979 against previous 0.911. The 57000CE option holds the maximum open interest, followed by the 54000PE and 55000CE options. Market participants have shown increased interest with significant open interest additions in the 54500PE option, with open interest additions also seen in the 54600CE and 54800PE options. On the other hand, open interest reductions were prominent in the 54200CE, 54000CE, and 55000CE options. Trading volume was highest in the 54500CE option, followed by the 54500PE and 55000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
54,536.00	0.979	0.911	0.754
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,57,81,310	1,61,11,375	-3,30,065
PUT:	1,54,57,230	1,46,84,895	7,72,335
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,000	18,57,280	-27,000	56,554
55,000	12,92,200	-1,33,630	1,39,236
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
54,600	3,30,470	1,89,245	1,10,655
54,700	2,51,160	91,735	71,085
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
54,200	1,39,510	-1,54,420	24,528
54,000	7,95,295	-1,40,805	42,444
Top CALL Volume:
Strike	OI	OI Change	Volume
54,500	8,19,070	40,040	1,81,913
55,000	12,92,200	-1,33,630	1,39,236
Top PUT Open Interest:
Strike	OI	OI Change	Volume
54,000	14,19,725	22,505	96,753
57,000	10,41,420	-8,365	1,233
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
54,500	9,47,520	2,26,065	1,72,980
54,800	1,59,740	95,830	42,093
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
52,500	6,58,195	-36,170	38,542
54,300	2,12,695	-31,605	31,783
Top PUT Volume:
Strike	OI	OI Change	Volume
54,500	9,47,520	2,26,065	1,72,980
54,000	14,19,725	22,505	96,753

FINNIFTY Monthly Expiry (30/09/2025)

The FINNIFTY index closed at 26123.75. The FINNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.122 against previous 0.890. The 26500CE option holds the maximum open interest, followed by the 25500PE and 26000PE options. Market participants have shown increased interest with significant open interest additions in the 25500PE option, with open interest additions also seen in the 26100PE and 25900PE options. On the other hand, open interest reductions were prominent in the 26500CE, 26000CE, and 25550PE options. Trading volume was highest in the 26500CE option, followed by the 26000PE and 26100CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,123.75	1.122	0.890	0.906
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,86,335	6,92,770	-6,435
PUT:	7,70,185	6,16,460	1,53,725
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,500	1,17,260	-30,355	8,011
27,000	67,275	20,345	4,189
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
27,000	67,275	20,345	4,189
26,300	18,070	18,070	1,087
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,500	1,17,260	-30,355	8,011
26,000	65,065	-28,015	2,111
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	1,17,260	-30,355	8,011
26,100	31,070	15,015	4,300
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,500	89,830	45,240	3,830
26,000	85,865	-9,750	4,817
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,500	89,830	45,240	3,830
26,100	42,445	34,320	3,824
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,550	10,595	-19,045	714
26,000	85,865	-9,750	4,817
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	85,865	-9,750	4,817
25,500	89,830	45,240	3,830

MIDCPNIFTY Monthly Expiry (30/09/2025)

The MIDCPNIFTY index closed at 13040.9. The MIDCPNIFTY monthly expiry for SEPTEMBER 30, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.259 against previous 1.289. The 12000PE option holds the maximum open interest, followed by the 13500CE and 14000CE options. Market participants have shown increased interest with significant open interest additions in the 13000PE option, with open interest additions also seen in the 13500CE and 14000CE options. On the other hand, open interest reductions were prominent in the 67500CE, 67000CE, and 66500CE options. Trading volume was highest in the 13000PE option, followed by the 13000CE and 13500CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-09-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,040.90	1.259	1.289	1.037
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	59,69,880	52,06,880	7,63,000
PUT:	75,13,660	67,09,220	8,04,440
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,500	8,50,220	2,28,900	19,865
14,000	7,07,000	1,83,400	5,543
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,500	8,50,220	2,28,900	19,865
14,000	7,07,000	1,83,400	5,543
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
12,900	2,55,920	-1,25,720	5,566
13,000	3,83,320	-1,24,040	24,344
Top CALL Volume:
Strike	OI	OI Change	Volume
13,000	3,83,320	-1,24,040	24,344
13,500	8,50,220	2,28,900	19,865
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,000	8,63,240	1,46,580	8,681
12,500	7,03,220	-1,89,560	12,373
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,000	6,62,620	4,25,740	26,311
12,000	8,63,240	1,46,580	8,681
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,500	7,03,220	-1,89,560	12,373
12,300	3,46,360	-1,06,680	4,670
Top PUT Volume:
Strike	OI	OI Change	Volume
13,000	6,62,620	4,25,740	26,311
12,500	7,03,220	-1,89,560	12,373

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

This session’s Open Interest Volume Analysis shows Nifty is gearing up for an important expiry tug-of-war, with support and max pain locked at 25,000 and resistance stretching to 26,000. Range-based traders should hunt for iron condors or straddles around this zone, while momentum seekers can trail stops and ride fresh longs above 25,000 as open interest builds. BankNifty’s short covering makes it ripe for tactical plays near 54,600–55,000, and midcaps/FINNIFTY offer nimble scalping chances as volume and open interest spikes set up quick swings.

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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