Despite strong gains in the broad markets for the fifth straight session, Nifty April futures ended at a discount on Monday.
However, there was a substantial increase in open positions in out-of-the-money call options compared to the increase of open positions in at-the-money call options.
Infosys Technologies, Satyam Computer, Telco, Tisco and Reliance Industries saw a marginal decrease in open interest in deep in-the-money call options.
The total volume of the derivatives market shot up to Rs 2916.44 crore (from Rs 2531.57 crore on Friday) with 1,17,260 contracts traded.
In Nifty futures, April futures added 13.20 points to 1028.00 while the NSE S&P CNX Nifty ended at 1031.50. May futures closed up 14.35 points at 1030.00 and June futures edged up 18.95 points at 1033.50.
In Nifty options, calls dominated trading. Strikes at 1030, 1010, 1020 and 1000 were the top traded calls. The top traded puts were strikes at 1000 and 1020 and 1010.
The implied volatility for Nifty calls was around 7-9 per cent and that of puts was around 17-19 per cent. In stock futures, Satyam Computer, Infosys Technologies and Reliance Industries were the top traded counters.
Open interest in Satyam and Digital fell as traders locked in profits. Despite the fall in open interest, open positions in Digital touched 92 per cent of the marketwide limit and that of Polaris stood at 82 per cent.
Mastek was the other counter where the open positions stood at 94 per cent. Mastek and BFL MphasiS will announce their quarterly results on Wednesday.
