Robust Call Option Trading Highlights Investor Confidence
On 12 February 2026, Bajaj Finance’s call options with a strike price of ₹1,000 expiring on 24 February witnessed a remarkable 11,934 contracts traded, generating a turnover of ₹2,024.6 lakhs. The open interest stood at 6,310 contracts, underscoring sustained investor interest in bullish bets. This activity is particularly significant given the underlying stock price of ₹1,014.25, indicating that traders are positioning for further upside beyond the current market level.
The surge in call option volumes coincides with the stock’s strong price performance, which outperformed its sector by 2.56% on the day and delivered a 1.80% gain compared to the Sensex’s 0.87% decline. Bajaj Finance has recorded gains for three consecutive sessions, accumulating a 4.9% return over this period, signalling positive momentum.
Technical Indicators Support Bullish Outlook
From a technical standpoint, Bajaj Finance is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — reinforcing the strength of its uptrend. The delivery volume on 12 February surged to 1.07 crore shares, a 130.7% increase over the five-day average, reflecting rising investor participation and conviction in the stock’s near-term prospects.
Liquidity remains robust, with the stock’s traded value supporting trade sizes up to ₹17.59 crores based on 2% of the five-day average traded value, ensuring that large option positions can be established or unwound without significant market impact.
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Mojo Score and Market Capitalisation Context
Bajaj Finance currently holds a Mojo Score of 65.0 with a Mojo Grade of Hold, downgraded from Buy on 1 February 2026. This adjustment reflects a more cautious stance amid evolving market conditions, though the company remains a large-cap heavyweight with a market capitalisation of ₹6,24,986 crores. The Market Cap Grade is rated 1, indicating its status as a large-cap stock with significant institutional interest.
Despite the downgrade, the stock’s recent price action and options market activity suggest that traders are anticipating a potential rebound or continuation of the uptrend, possibly driven by strong fundamentals and sectoral tailwinds in the Non Banking Financial Company (NBFC) space.
Expiry Patterns and Strike Price Significance
The 24 February 2026 expiry date is attracting considerable attention, with the ₹1,000 strike price call options dominating volumes. This strike is slightly below the current underlying price, indicating that investors are betting on the stock maintaining or advancing beyond this level in the near term. The open interest accumulation at this strike price suggests a build-up of bullish positions, which could translate into increased volatility as expiry approaches.
Such concentrated activity often precedes significant price movements, as traders adjust their positions in response to market developments, earnings announcements, or macroeconomic factors impacting the NBFC sector.
Sectoral and Market Comparison
In comparison to its NBFC peers, Bajaj Finance’s outperformance is notable. The sector recorded a 1.25% decline on the day, while Bajaj Finance advanced 1.80%. This divergence highlights the stock’s relative strength and investor preference amid broader sectoral headwinds. The Sensex also declined by 0.87%, further emphasising Bajaj Finance’s resilience in a challenging market environment.
Such relative strength is often a precursor to sustained rallies, especially when supported by strong option market positioning and rising delivery volumes.
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Investor Implications and Outlook
The pronounced call option activity in Bajaj Finance signals a bullish consensus among traders, who appear confident in the stock’s ability to sustain gains above the ₹1,000 level. This optimism is supported by strong technical indicators, rising delivery volumes, and the stock’s outperformance relative to its sector and benchmark indices.
However, investors should remain mindful of the recent Mojo Grade downgrade to Hold, which suggests a tempered outlook from fundamental analysts. Market participants would be wise to monitor upcoming corporate developments, macroeconomic data, and sector-specific trends that could influence the stock’s trajectory.
Given the liquidity and active options market, Bajaj Finance remains an attractive candidate for both directional plays and hedging strategies, especially as the 24 February expiry approaches.
Summary
In summary, Bajaj Finance Ltd is currently the focal point of bullish option market activity, with significant volumes and open interest concentrated at the ₹1,000 strike price for the near-term expiry. The stock’s technical strength and rising investor participation underpin this optimism, despite a cautious fundamental rating. Market participants should watch for volatility around expiry and consider the broader NBFC sector dynamics when positioning in Bajaj Finance.
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