Coforge Ltd Sees Surge with 10,619 Active Call Contracts at Rs 8,500 Strike

Coforge Ltd, a prominent player in the Computers - Software & Consulting industry, has emerged as one of the most active stocks today, reflecting significant trading activity in its call options. The stock, which has a market capitalization of Rs 56,689.86 crore, saw notable movements in its options market with two key strike prices.
For the call option with a strike price of Rs 8,400, 6,798 contracts were traded, resulting in a turnover of Rs 1,298.07 lakh and an open interest of 2,033 contracts. Meanwhile, the call option at a strike price of Rs 8,500 experienced even higher activity, with 10,619 contracts traded and a turnover of Rs 1,637.15 lakh, alongside an open interest of 4,299 contracts. The underlying value for both options stands at Rs 8,484.

In terms of performance metrics, Coforge has outperformed its sector by 0.93% today, marking a trend reversal after three consecutive days of decline. The stock reached an intraday high of Rs 8,510, reflecting a gain of 2.83%. Additionally, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive momentum. However, it is worth noting that the delivery volume has decreased significantly, falling by 58.4% compared to the 5-day average.

In summary, Coforge Ltd's active trading in call options and its recent performance metrics highlight its current market position and trading dynamics without delving into future implications.