New Delhi, Sept. 15 -- The stock market slipped decisively below the Nifty's crucial 24000-support earlier this month, but derivatives traders remain bullish, continuing to hold the maximum put options contracts at this level for the monthly expiry on 29 September.

This means that as of now, they expect the market to close at or above that level at the end of the month. If that happens, they retain the premium paid by the put buyers. Analysts said traders have taken this stance they expect tensions between the US and Iran to abate by the month-end.

The 24000 put expiring on 29 September had 93151 contracts outstanding as of Friday, while the 24000 call had 130,891 contracts outstanding. Both these had the highest concentration among all...