BHEL Sees Surge in Call Option Activity with 7,998 Contracts at Rs 240 Strike

Bharat Heavy Electricals Ltd. (BHEL), a prominent player in the Heavy Electrical Equipment industry, has emerged as one of the most active stocks today. The stock is currently trading at an underlying value of Rs 225.03, reflecting a notable decline of 6.33% in its one-day return, underperforming its sector, which has seen a decrease of 2.93%.
Today, BHEL's options market witnessed significant activity, with 7,998 call contracts traded at a strike price of Rs 240, resulting in a turnover of Rs 587.853 lakhs. The open interest stands at 1,941 contracts, indicating ongoing interest in this option. The stock opened with a gap down of 3.33% and reached an intraday low of Rs 222.59, marking a 7.19% drop from the previous close.

BHEL has been on a downward trend, having lost 9.79% over the last two days. It is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a persistent bearish sentiment. Despite these challenges, there has been a notable increase in investor participation, with delivery volume rising by 326.4% against the 5-day average.

In summary, BHEL's current market activity reflects a challenging environment, characterized by significant trading volume and a downward price trajectory, while still maintaining sufficient liquidity for trading.