- Bank Nifty options open interest rose 90% since the last expiry cycle
- The 56,000 strike holds the largest call and put open interest in Bank Nifty
- Call open interest at 56,000 strike increased by over 375,000 contracts
Traders have built the largest options positions at the 56,000 strike on Bank Nifty while overall derivatives activity in the banking index has risen about 90% since the last expiry cycle, according to F&O data.
The concentration of open interest at a single strike comes even as Bank Nifty traded at 58,214.10, indicating that market participants continue to use the 56,000 level as a key reference point for their positions.
Data on open interest since the last expiry showed total Bank Nifty options open interest rose 90.04% to 1.32 million contracts. Call open interest increased 101.21% to 621,273 contracts, while put open interest climbed 89.74% to 607,434 contracts. Futures open interest rose 37.5% to 87,773 contracts.
The data points to a sharp increase in derivatives participation in Bank Nifty since the previous expiry, with traders adding positions across both calls and puts.
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Key strike
The weekly options chain showed the highest call open interest at the 56,000 strike, with more than 1.3 million contracts outstanding. The same strike also held the largest put open interest, at more than 720,000 contracts.
Fresh additions to open interest were concentrated around the 56,000 strike. Call open interest additions at the level exceeded 375,000 contracts, while put open interest additions were close to 370,000 contracts.
The build-up at the strike stood out from neighbouring levels, where changes in open interest were significantly smaller.
Banking Shares
Separate futures data showed fresh accumulation in several banking stocks.
Bandhan Bank recorded an 18.86% increase in open interest alongside a rise in futures prices. Bank of India saw open interest increase 17.2%, while Yes Bank posted a 9.17% rise. ICICI Bank, RBL Bank, Axis Bank, Bank of Baroda, Union Bank of India and Kotak Mahindra Bank also featured among counters that registered higher prices and open interest.
The trend suggests traders added fresh positions in a broad group of banking shares during the period under review.
Data from the short-covering screen showed limited activity, with Bank Nifty futures and Bank of Baroda among the few banking counters appearing in that category.
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