LT July expiry - a case study

July month's LT open interest data below (Source: Opstra) provides a case for an interesting study.

Not only LT's chart indicate bullish price action, OI data also shows max pain at 1580 and PCR of 0.42. This means either these heavy call writers :

1) know something we don't (quarterly results on 26 July)

2) are stuck badly and will be in a much worse situation if LT breaks further higher

I believe given the overall scenario, case 2) makes more sense. Worth keeping an eye.

Disclaimer: above is for educational purposes only. Consult your financial advisor before putting on risk.