Option writers are preparing for a big range and volatility in MAY.
They are not expecting markets to cross 7000 in MAY and not break 6000 on the downside.
Since markets are close to the upper range than the lower range, chances of a correction cannot be ruled out.
To negate this scenario, open interest at 6000 and lower puts should be highest.
They are not expecting markets to cross 7000 in MAY and not break 6000 on the downside.
Since markets are close to the upper range than the lower range, chances of a correction cannot be ruled out.
To negate this scenario, open interest at 6000 and lower puts should be highest.
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