Options/futures data for 20th Sep (EOD)

Summary:

1. "Snake and ladder" game going on between bulls and call writers. Bulls taking the ladder route and call writers have been getting the snakes - almost everyday. In the trading room today - Viren was joking around about launching a "Save the Bears" campaign :)

2. On a serious note - the ferocity of bulls is such that on Friday I was looking at 10L 5900CEs added and was happily announcing - "OK someone is willing to write calls at 5900". Well the joy was short lived! All of the 10L 5900CEs were covered today. And if that was not enough some of the 6000CEs were covered too. Now call writers have climbed one step more - writing 14L calls at 6100. -- May GOD bless those bears.

3. All of the Put action was at 5900 with 25L puts added there - makes 5900 the immediate support. And with 81L puts vs 52L calls - makes 5800 next support

4. PCR has gone through the roof. Its now 1.84!!! - Although PCR above 1.8 historically signalled reversal, I will not say "we could reverse from here" because this market seems to be making mockery of history, statistics and those who are not long!

Nifty Futures:

SEP: 3.91Cr - OI up 1%

OCT: 52L - OI up 16%

Banknifty Futures:

24L - OI down 1.5% -- Banknifty OI is down 10% from the point it breakout last week on Monday. If short covering doesn't give way to longs, it would be a cause for concern.