The remarkable open interest in the out-of-the-money (OTM) put strikes at 82.50, 82.25, and 82.00 slightly surpasses the open interest in the OTM call strikes ranging from 83.00 to 83.50. Additionally, the quantity of open interest added yesterday is notably higher for the nearby OTM put options compared to the nearby OTM call options.
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This suggests that traders are placing their bets on the USDINR staying above the 82.25/50 zone. Simultaneously, it's important to note that the substantial open interest in the 83.00 call acts as a strong indicator of significant resistance at that level.
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