Option sellers see Nifty trading between 23,000 and 25,000 in June

Options sellers are pricing the Nifty to trade in a 2,000-point range of 23,000-25,000 in June, based on the highest open interest concentration at the 23,000 put strike (93,738 contracts) and the 25,000 call strike (130,221 contracts). From Friday's close of 23,622.9, this implies 5.8% upside and 2.6% downside, with odds favouring an upside tilt. The range is contingent on no sudden geopolitical surprises, particularly around US-Iran peace deal negotiations, and FPIs were net sellers of 293,925 index option contracts as of Thursday.