Options Watchlist – 30th October 2025
🧭 Weekly Options Watchlist – 30th October 2025
🔭 STWP Options Insights | Open Interest & IV Dynamics
By STWP (Trainer / Mentor – Mumbai)
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📘 Overview
This weekly options watchlist focuses on open interest (OI) behavior, volume expansion, and implied volatility (IV) across key derivatives names.
The objective is not to predict outcomes but to observe how traders are positioning — where accumulation is building, and where resistance is forming.
Each setup below represents a data-backed observation based on market participation patterns.
As always — this is not a trade call, but a structured lens to study sentiment and flow.
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📊 Watchlist Highlights
1️⃣ BHEL (NSE: BHEL)
💰 CMP: ₹ 261.29 | 📊 OI Change: +76.5% | 📈 Volume Surge: +724% | IV: 28.6
Setup Insight: Strong Long Build Up in calls with synchronized volume expansion. Reflects conviction-driven buying pressure supporting trend continuation.
🎯 Market Bias: Bullish | Setup Context: aligns with Bull Call Spread or Long Call structures.
🧩 IV under 30 indicates a debit-friendly zone; better suited for structured continuation plays.
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2️⃣ POLICYBZR (NSE: POLICYBZR)
💰 CMP: ₹ 1,844.5 | 📊 OI Change: +285% | 📈 Volume Surge: +1800% | IV: 28.9
Setup Insight: Consistent Long Build Up across 1800–1900 call strikes. Volume confirms institutional accumulation.
🎯 Market Bias: Bullish | Setup Context: fits bullish debit structures (low IV, high conviction).
🧩 Retests near ₹1,820 can offer cleaner data-driven confirmation zones.
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3️⃣ ABCAPITAL (NSE: ABCAPITAL)
💰 CMP: ₹ 326.8 | 📊 OI Change: +21.7% | 📈 Volume Surge: +853% | IV: 28.3
Setup Insight: Broad-based call accumulation with stable IV. The data suggests sustained participation rather than speculative spikes.
🎯 Market Bias: Bullish | Structure Context: aligns with debit setups like Long Calls or Cash Secured Puts.
🧩 Watch for volume follow-up around ₹330 zone for continuation evidence.
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4️⃣ OIL (NSE: OIL)
💰 CMP: ₹ 434.75 | 📊 OI Change: +338% | 📈 Volume Surge: +1611% | IV: 25.9
Setup Insight: One of the strongest buildups this week. Call-side OI surge with rising price and moderate IV suggests directional conviction.
🎯 Market Bias: Bullish | Setup Context: fits trend continuation structures (low IV, high momentum).
🧩 Trailing approaches can manage exposure as IV remains steady.
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5️⃣ ADANIGREEN (NSE: ADANIGREEN)
💰 CMP: ₹ 1,140.1 | 📊 OI Change: +40% | 📈 Volume Change: +41% | IV: 38.3
Setup Insight: Continued Long Build Up on higher IV. Indicates ongoing optimism, but expensive premiums.
🎯 Market Bias: Bullish | Structure Context: favors vertical or calendar spreads to offset IV risk.
🧩 Avoid unhedged positions; focus on stability post-breakout.
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6️⃣ LT (NSE: LT)
💰 CMP: ₹ 3,987.5 | 📊 OI Change: +57.7% | 📈 Volume Change: +147% | IV: 18.8
Setup Insight: Sustained Short Build Up on call side near ₹4,100 zone, showing active resistance formation.
🎯 Market Bias: Bearish | Setup Context: aligns with credit-based call structures or range-bound positioning.
🧩 Low IV confirms a controlled bearish environment; patient observation warranted.
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7️⃣ CIPLA (NSE: CIPLA)
💰 CMP: ₹ 1,540.1 | 📊 OI Change: +84% | 📈 Volume Change: +652% | IV: 22.8
Setup Insight: Continuous Short Build Up in calls, pointing to supply at higher levels and slowing price momentum.
🎯 Market Bias: Mildly Bearish | Structure Context: suits neutral-to-bearish spreads.
🧩 Low volatility environment; directional conviction remains limited for now.
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8️⃣ SBIN (NSE: SBIN)
💰 CMP: ₹ 934.35 | 📊 OI Change: +30% | 📈 Volume Change: +58% | IV: 21.6
Setup Insight: Put-side Long Build Up near ₹920 indicates accumulation and defensive positioning at key support.
🎯 Market Bias: Bullish to Neutral | Setup Context: fits time-based accumulation structures like Put Credit environments.
🧩 Support zone around ₹920–930 remains the key reference for traders tracking follow-up.
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9️⃣ POLYCAB (NSE: POLYCAB)
💰 CMP: ₹ 7,845 | 📊 OI Change: +11.3% | 📈 Volume Change: +92% | IV: 25.0
Setup Insight: Continued Long Build Up suggests gradual institutional exposure.
🎯 Market Bias: Bullish | Setup Context: aligns with debit-style bullish continuation structures.
🧩 Balanced IV zone; steady bias without momentum excess.
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🔟 RECLTD (NSE: RECLTD)
💰 CMP: ₹ 378.3 | 📊 OI Change: +10.7% | 📈 Volume Change: -21% | IV: 25.9
Setup Insight: Light Short Build Up around resistance zone; signals mild supply but not aggressive selling.
🎯 Market Bias: Neutral to Bearish | Setup Context: fits credit-style range structures (Call Spreads / Condors).
🧩 IV remains controlled; neutrality more likely than reversal.
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💡 Learning Note
Options data is a mirror of trader intent, not a prediction engine.
Long Build Up: expanding OI with rising price — accumulation phase.
Short Build Up: rising OI with falling price — resistance formation.
Short Covering: declining OI with price rise — reversal signal.
The real edge lies in reading behavioral alignment between OI, volume, and IV — not just one indicator in isolation.
As always, patience > prediction.
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📘 STWP Summary View
This week’s options landscape reflects a moderately bullish undertone, dominated by midcaps, PSUs, and energy counters.
Low to mid IV across most names supports debit-based continuation structures, while selective call writing in large caps like LT and CIPLA signals resistance building.
The key takeaway: direction is clearer in data than in noise.
Trade less, observe more, and let structure guide conviction.
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⚠️ Disclosure & Disclaimer
This content is strictly for educational and informational purposes.
It does not constitute financial advice or a trading recommendation.
Options are leveraged instruments and may not be suitable for all investors.
Readers should consult a SEBI-registered advisor before acting on any market view.
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Thu Oct 30, 2025
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