Does strong buying of options affect the price of the underlying stock in any way?
If you talk theoritically the answer is No. As futures and options are derivatives ( something we derive from fundamental). But practically some persons by colluding with each other can do so. First say they are buying call options heavily on a large premium and after buying in a large quantity they can buy the original equity. But this an illegal thing and SEBI keeps a close watch on such things. So I think you are able to get my point.
buying of option doesn’t affect price of stock but Huge open interest does affect the price of stock.
It depends. Huge option buying results in huge oi buildup.
If Option( call) strike is near towards LTP, and if a big hand has written the options, most likely the underlying closes below that strike. You can read more about max pain of options to undertsand that.
Sorry Vikram… Not getting the point…
It will not affect the price of underlying stock