The Nifty May futures closed at 9483.95 with a gain of 1.87% or 174.55 points on Thursday. Open interest of the current month expiry shed by 18.08 lakh shares. On the other side, Nifty June futures ended at 9427.95 with a gain of 1.37% and an OI addition of 22.28 lakh shares showing addition of longs in the markets. On the expiry day, Nifty May month rollover stood at 75.67% against 67.95% MoM. Nifty June future traded at discount of 62.15 points against a discount of 14.5 points on Wednesday. Nifty’s VIX slipped by 4.01% to close the day at 30.0175 versus 31.2725 on the previous day. FIIs were buyers in the F&O segment for second straight day; bought derivatives worth Rs 4135.10cr as per provisional figures yesterday.
Bulk of the index wide rollovers have come from puts, especially from the ITMs. Calls have seen lesser rollovers, and the most active ones in June are 9500 and 10000, unsurprisingly the same strikes which have been in focus until a one a half weeks back before Nifty turned volatile. 9400 and 9000 are the most active put strikes in June. FIIs meanwhile, cut their index future shorts sharply, while keeping most of the index future longs, cutting only 12% yesterday, after a 68% boost on the day before. This has brought the overall OI of FII in index futures down while also making it heavy, Nifty may find itself short of some fuel today, if it were to try and add on to yesterday’s rally.
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