Informist, Monday, Feb 26, 2024
By Anshul Choudhary
MUMBAI – Traders sold call options and bought put options today, indicating a hit to bullish sentiment for the coming sessions. The positive sentiment was hit as the Nifty 50 fell, ending 90 points or 0.4% lower at 22122.05 points.
Options data showed that traders sold call options above 22150 strike prices. Premiums at 22150 strike prices, which also had the highest open interest addition, fell by 67 rupees to 127 rupees. Premiums of 22200 fell by 63 rupees to 102 rupees, and that of 22300 declined 50 rupees to 64 rupees. The highest open interest was at 23000 calls with 12.9 mln active contracts.
On the put side, the highest open interest addition was at 18650 strike prices, while the highest open interest was at 21000, followed by 21500 and 22000. Premiums of 22200 puts rose by 28 rupees to 161 rupees, that of 22100 rose 17 rupees to 112 rupees, and that of 22000 rose 8.50 rupees to 74.50 rupees.
For Nifty Bank contracts, sentiment was weak and traders continued to sell call options. Premiums across call options were down. The highest open interest on the call side was at 47000, and the highest open interest on the put side was at 45000 strike price. “We are seeing heavy short positions in specific banking stocks,” said Raj Deepak Singh, head of derivatives research at ICICI Direct Research, earlier today. He added that banking stocks are likely to support the index only after Nifty Bank crosses 47200 points. Today, the sectoral index closed 0.5% down at 46576.50 points.
–Nifty 50 Feb closed at 22138.35, down 90.50 points; 16.30-point premium to spot index
–Nifty 50 Mar closed at 22296.85, down 77.45 points; 174.80-point premium to spot index
–Nifty 50 Apr closed at 22439.70, down 74.30 points; 317.65-point premium to spot index
HDFC Bank, Larsen & Toubro, Reliance Industries, State Bank of India, Indus Towers, ICICI Bank, Kotak Mahindra Bank, Adani Ports And Special Economic Zone, and Adani Enterprises were the most actively traded underlying stocks today. End
Edited by Akul Nishant Akhoury
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