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if it really happen then smart money is trying to confuse retail investor
then we should check stock/index future data..
1> check open interest with stock/index price…
2> check co relation between open interest and stock/index price
3> in option chain observe where maximum oi is addition
4> in option chain check where volume is low(smart money generally works
with less volume)
5> check which stk price change in premium is max
6>if it is stock then observe delivery %
last but not the least
7>observe change in iv of stk price (when smart money buy/sell then iv/premium also change drastically)
if you done all the above steps then you can find out the direction of the stock/index
*this type of scenario is very rare , if you can share any data like this then it will help us to analyse ..
hope this process clears your doubt