Call Option Activity Highlights
Among the most actively traded call options for Avenue Supermarts are contracts expiring on 30 December 2025, with strike prices at ₹3,900 and ₹4,000. The ₹3,900 strike call saw 7,626 contracts traded, generating a turnover of approximately ₹759.78 lakhs, while the ₹4,000 strike call recorded 5,192 contracts with a turnover of ₹227.18 lakhs. Open interest figures stand at 2,834 and 3,647 contracts respectively, indicating sustained investor interest and positioning ahead of expiry.
The underlying stock price of ₹3,906 situates these strike prices near the money, suggesting that market participants are anticipating potential upward movement or hedging strategies around these levels. The concentration of activity at these strikes also points to a focus on capturing gains if the stock breaches these thresholds before the end of the year.
Price Performance and Market Context
On 16 December 2025, Avenue Supermarts outperformed its sector by 0.29%, registering a day’s high of ₹3,906.5, which represents a 2.11% increase intraday. The stock’s 1-day return of 1.68% surpassed the sector’s 1.51% gain and contrasted with the Sensex’s decline of 0.37%, highlighting relative strength in a broader market that showed some weakness.
Technical indicators reveal that the stock is trading above its 5-day moving average but remains below its 20-day, 50-day, 100-day, and 200-day moving averages. This mixed technical picture may be contributing to the cautious yet optimistic positioning seen in the options market, as investors weigh short-term momentum against longer-term resistance levels.
Investor Participation and Liquidity
Delivery volumes on 15 December stood at 1.61 lakh shares, reflecting a 24.33% decline compared to the 5-day average delivery volume. This reduction in investor participation may indicate a wait-and-watch approach as the expiry date nears. Nevertheless, liquidity remains adequate, with the stock’s traded value supporting trade sizes up to ₹2.7 crore based on 2% of the 5-day average traded value, ensuring that market participants can execute sizeable trades without significant price impact.
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Market Capitalisation and Sector Positioning
Avenue Supermarts is classified as a large-cap stock with a market capitalisation of approximately ₹2,48,857 crore. Operating within the diversified retail sector, the company’s scale and market presence make it a key player in the segment. The stock’s recent performance relative to its sector peers and the broader market underscores its importance as a bellwether for retail sentiment.
Options Expiry Patterns and Investor Sentiment
The concentration of call option activity around the ₹3,900 and ₹4,000 strike prices for the 30 December expiry suggests that investors are positioning for a potential rally or are hedging against downside risks. The open interest data indicates that a sizeable number of contracts remain outstanding, which could lead to increased volatility as expiry approaches, especially if the stock price moves closer to these strike levels.
Such patterns are often indicative of a market that is cautiously optimistic, with participants seeking to capitalise on upside potential while managing risk. The relatively high turnover in these call options compared to other strikes further emphasises the focus on these price points as critical junctures for the stock’s near-term trajectory.
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Implications for Investors
For investors and traders, the active call option market in Avenue Supermarts offers insights into prevailing market sentiment and potential price movements. The strike prices with the highest activity serve as informal indicators of key resistance levels that the stock may test in the near term. Monitoring open interest and turnover trends can provide clues about shifts in positioning and expectations as the expiry date approaches.
Given the stock’s current technical setup and the broader market environment, participants may consider these option activity patterns alongside fundamental and technical analyses to inform their investment decisions. The liquidity profile supports the execution of sizeable trades, which is favourable for institutional and retail investors alike.
Conclusion
Avenue Supermarts continues to command significant attention in the derivatives market, with call options around the ₹3,900 and ₹4,000 strikes for the December expiry drawing the most activity. The stock’s performance relative to its sector and the Sensex, combined with its technical positioning and delivery volumes, paints a nuanced picture of investor sentiment. As expiry nears, the evolving options landscape will be a key area to watch for indications of the stock’s short-term direction.
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