Robust Call Option Volumes Highlight Investor Confidence
Data from the derivatives market reveals that BSE Ltd’s call options have been among the most actively traded contracts in recent sessions. The strike prices of ₹2800, ₹2850, and ₹2900 have attracted substantial volumes, with the ₹2800 call option leading the pack at 11,758 contracts traded. This was followed by the ₹2850 strike with 6,158 contracts and the ₹2900 strike with 5,793 contracts.
The turnover for these strikes is equally impressive, with the ₹2800 call generating ₹2952.87 lakhs, the ₹2850 call ₹1085.58 lakhs, and the ₹2900 call ₹663.88 lakhs. Open interest figures further reinforce the bullish sentiment, particularly at the ₹2800 strike, which holds an open interest of 5,299 contracts, indicating strong investor commitment to this level.
Underlying Stock Performance Supports Positive Outlook
BSE Ltd’s underlying stock price currently stands at ₹2799.8, just shy of the ₹2800 strike price that has seen the highest call option activity. The stock has outperformed its sector by 1.9% today, delivering a 1-day return of 2.23%, significantly ahead of the Capital Markets sector’s 0.54% and the Sensex’s marginal 0.03% gains. This relative strength is a key factor driving the surge in call option interest.
Technical indicators also paint a constructive picture. The stock is trading above its 50-day, 100-day, and 200-day moving averages, signalling a sustained uptrend. However, it remains slightly below its 5-day and 20-day moving averages, suggesting some short-term consolidation. Rising investor participation is evident from the delivery volume of 21.09 lakhs on 17 February, which is 1.76% higher than the five-day average, reflecting increased conviction among market participants.
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Mojo Score Upgrade Reflects Strengthening Fundamentals
BSE Ltd’s recent upgrade from a ‘Buy’ to a ‘Strong Buy’ rating by MarketsMOJO on 6 February 2026, with a Mojo Score of 82.0, highlights improving fundamentals and positive market sentiment. The company’s market capitalisation stands at a robust ₹1,11,694 crores, categorising it as a mid-cap stock with significant liquidity and institutional interest.
The market cap grade of 2 indicates a solid valuation framework relative to peers in the Capital Markets sector. This upgrade is supported by consistent earnings growth, improving return ratios, and a favourable macroeconomic environment that benefits capital market intermediaries like BSE Ltd.
Expiry Patterns Suggest Strategic Positioning
The expiry date of 24 February 2026 is attracting concentrated option activity, with traders positioning themselves ahead of potential catalysts. The clustering of open interest around the ₹2800 to ₹2900 strike prices suggests expectations of a moderate upside move in the underlying stock within the next week.
Such positioning is typical of investors anticipating positive developments, possibly linked to quarterly results, regulatory announcements, or broader market momentum. The high turnover and open interest levels at these strikes also imply that market makers and institutional players are actively hedging their exposures, adding to the liquidity and vibrancy of the options market.
Liquidity and Trading Dynamics Support Active Participation
BSE Ltd’s liquidity profile is conducive to sizeable trades, with the stock’s average traded value over five days supporting trade sizes up to ₹37.07 crores. This ensures that both retail and institutional investors can enter and exit positions with minimal slippage, a critical factor for options traders who require efficient execution.
The rising delivery volumes and the stock’s ability to outperform its sector and benchmark indices reinforce the conviction behind the bullish call option activity. Investors appear confident that BSE Ltd will sustain its upward momentum, making the current option strikes attractive for leveraged exposure.
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Investor Takeaway: Balanced Optimism with Tactical Vigilance
While the surge in call option volumes and the underlying stock’s strong performance point to a bullish near-term outlook for BSE Ltd, investors should remain mindful of market volatility and potential profit-taking ahead of expiry. The stock’s current price hovering near key strike levels may invite short-term fluctuations as traders adjust positions.
Given the company’s upgraded rating and solid fundamentals, medium to long-term investors may view the current environment as an opportune entry point. However, prudent risk management and monitoring of broader market cues remain essential to capitalise effectively on the prevailing momentum.
In summary, BSE Ltd’s active call option market, combined with its technical and fundamental strengths, positions it as a compelling candidate for investors seeking exposure to the Capital Markets sector’s growth trajectory in 2026.
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