Open Interest data from 15th Jan

Open Interest data from 15th Jan shows stong accumulation in the 5300 call as well as the 5200 put heading into the weekend.

Whilst yesterday we had seen a lot of accumulation in puts at the 5200 strike, today we saw call writers adding 15 % at the 5300 strike to bring the open interest there to 6.5 million which is a formidable resistance to overcome.After adding 8.5 % yesterday, put witers added another 7.7 % today at 5200 bringing the total there above 5 million to 5.36 mn.

So, the players are expecting the theta decay to work over the weekend as can be seen in the OI concentrations at these strikes.

I have not seen the implied volatility at these levels in a very long time.Markets will remain range bound between 5200 & 5300 till we see OI declining at one of these 2 strikes.