2. Calls at 5500/5600 are still getting added with 5500 being the resistance now. But we wont stay in the 5400-5500 range for sure. Something has to give way next week.
3. What's bullish is 5500PEs are also being added - almost 30% increase in OI this week. So upside can easily come if more 5500PEs are added and 5500CEs covered.
4. Lower levels puts addition has slowed down towards the end of this week which is reflected in the PCR reduction from 1.48 last week to 1.38 now. But still this is the first time I have seen 80-90L OI on lower level puts in the very first week of a series.