Motilal Oswal Financial Services Limited Open Interest & PCR Analysis

OI Buildup Pattern

The current expiry shows a neutral buildup, meaning price movement is flat while open interest is unchanged. With price at ₹1037 and OI stable, neither long nor short participants are adding new contracts. This suggests a balanced market where existing positions are being held rather than expanded. The unchanged OI paired with a flat price range indicates that traders are awaiting new catalysts before altering exposure. Absence of a pronounced long or short buildup implies minimal conviction on either side.

Put-Call Ratio

The put‑call ratio stands at 0.464, lower than yesterday’s 0.495, indicating a modest tilt toward call‑option activity. The downward shift reflects a slight increase in call‑open interest relative to puts. The ratio remaining below one continues to signal a mildly bullish bias among option writers.

Futures OI

Futures open interest registers zero change for the day, implying that no new long or short futures positions were initiated. The static futures OI reinforces the view of a market in equilibrium with limited directional betting. Such a flat futures OI environment often precedes a period of low volatility as participants refrain from taking directional risks.

Data Summary

Total open interest is 2,942,675 contracts, with put‑call open interest at 1,364,775 contracts for this expiry. The proportion of call OI to total OI is approximately 46%, aligning with the PCR figure. Overall market shows stance and limited positioning.