iCharts Discussions

[yashrahul]

[yashrahul]

6300 put has started seeing unwinding and 6300 call is seen writing...market opening on the downside...wait for EOD options data and today's close

[yashrahul]

6300 put has seen huge unwinding of more than 17 lakhs in oi as of now at 11.20 am...also good to see is oi getting cut across all the puts of 6200..6100...6000..markets are opening up on the downside for sure..some very important supports which have been troubling the bears are coming up like 6230-6250 on Nifty spot..being on the bearish side i hope they are taken out today..my only worry is europe might open ok as it was heavily down yesterday and then again we see a bounce back....Wait for EOD options data and today's close..6300 is gone..now let's hope 6200 and 6100 also goes..

i might be totally wrong

[lakshay]

can you see some similarity in price action and options data when compared to 25-06-2012?

pls comment on it ......

[yashrahul]

[lakshay]

it is 25-6-2012 i looked at line chart(close) , pattern in days before 25-6-2012 look somewhat similar when compared to current set of past few days .... they seem to me similar and i hope to have tuesday's move as same as on 28-6-2012.

[yashrahul]

[yashrahul]

Note:Today's options data points to a further fall with open interest cut in most of the puts...some put writers have covered their positions and with expiry a few days away some of the put writers have taken their bets of for this series...as mentioned some days back 6300 put did in fact rocket today..it was not a gap down of 100 points on the nifty but a gradual fall of 75-80 points...monday is going to be a big day for both the bulls and the bears...any bounce back and close above 6300NS spot will give some hope to the bulls and any close below 6230NS will be what the bears will look forward to...major worry for the bulls is the rupee also which is back to its sliding ways...rupee has shown amazing stability over the past few months and so have the markets...is this stability about to end of the markets if not of the rupee ? we will know by close of next week..next week volatility might increase with expiry... enjoy your weekend.

[rk_a2003]

Good analysis Yash, .I completely agree with you.

[yoginishreyas]

Dear Yash,

Thank you for your reply. I think I understand it little now, When OI increases in falling prices then We can consider it as writing.

Thanks
Shreyas

[yashrahul]

[yashrahul]

[yoginishreyas]

Thanks Yash, I started my real trading in Sep 13, I learned so many things and so many things teach me lesson. Their are so many wonderful strategies in Icharts forum and it is really good to get feed from all of it but sometimes I find myself in complete confuse world to what to follow? I believe option data will help me to figure out real boundaries of markets in series.

Big bro, Thank you for your support, I will certainly consult you if I think i am in trouble.

Thanks
Shreyas

[bolband_macd]

Yash, its a very commendable of you to start forum on information of Option OI. You and other experts have empowered lots of iChartiens with your knowledge.
Falling option price is very common activity after 20 days of the month. Courtousy CTC (Cost to carry or so called Theta)..
Rightly mentioned, Option writers dominates and indicates nifty moments most of the time.
Its amazing how indicators and charts give us an early signal in taking "proper" decisions. Thanks to iCharts for that matter.
I think in last 10 days of expiry month, two option strikes are very important. ITM and Options of Next Expiry..
Well, levels and pivots of DAILY Candles are very important for last 10 days of expiary.
I think Support Level for this month is 6266 and resistance is 6307.
Breaking any of these level will give nice move for both, Intra and Short Term traders. Then one might see a drastic change in OI of Index Options.

Any comments, suggestions, corrections are welcome.

Best regards and keep it up!

Trade Safe
BM

[yashrahul]