On index options, FIIs bought positions worth Rs 901 crore with a significant rise in open interest. In the current series, maximum open interest is placed in the Call option of strike price 8,500 and Put option of strike price 8,000.Fresh Put writing was seen at strike price 8,200 (10.4 lakh contracts added), followed by strike prices 8,300 (9.11 lakh contracts added), 8,100 (2.6 lakh contracts added) and 8,000 (4.01 lakh contracts added).The maximum Put open interest of 42.14 lakh contracts now stands at strike price 8,000, down from strike price 8,300 before the June expiry. NEW DELHI: Fresh Put writing at 7,500, 8,300 levels on the first day of July F&O series points to two things - the base of the market is getting stronger and domestic traders or FIIs might be buying protection to safeguard long positions.In Put options, strike prices 8,200 and 8,300 saw addition of fresh positions. "Since FIIs are continuously buying positions in index futures, we expect Nifty to continue its upward momentum in the coming sessions too," Angel Broking said in a note. "Traders are advised to trade with a positive bias," it said.

Source: Economic Times July 04, 2016 05:35 UTC