State Bank of India Open Interest & PCR Analysis

OI Buildup Pattern

The total call option open interest stands at 2,68,59,750 contracts, while put option open interest equals 3,05,38,500 contracts, showing a higher put volume and increased downside interest. With the spot price unchanged at ₹956.8 and total open interest flat, the market exhibits a neutral buildup, indicating neither aggressive long nor short accumulation at this juncture. This neutral stance suggests participants are maintaining existing positions, awaiting directional catalysts before expanding either bullish or bearish exposure, thereby keeping the risk profile relatively balanced.

Put-Call Ratio

The PCR registers 1.137 today, higher than yesterday’s 0.632, reflecting a shift toward relatively greater put demand in the market as traders hedge against potential downside moves currently. A PCR above one typically indicates market participants are leaning bearish, as more puts are held relative to calls, suggesting a cautious sentiment in the market.

Futures OI

Futures open interest remains unchanged at zero contracts, showing no net addition or reduction in speculative or hedging activity today, which aligns with the overall flat positioning. The flat futures OI reinforces the neutral overall positioning inferred from the spot and options markets for this expiry cycle, indicating limited new directional bets at present.

Data Summary

Key takeaway: put open interest exceeds call open interest, yielding a PCR above one while total OI stays flat today, highlighting a bearish tilt despite unchanged volume in the market.