Coforge Ltd Sees Surge in Call Options with 11,487 Contracts Ahead of Expiration

Coforge Ltd, a prominent player in the IT software industry, has emerged as one of the most active stocks today, particularly in the options market. The company’s call options, set to expire on April 24, 2025, with a strike price of Rs 8000, saw significant trading activity, with 11,487 contracts exchanged, resulting in a turnover of approximately Rs 588.06 lakhs. The open interest stands at 4,170 contracts, indicating ongoing interest in these options.
Despite this activity, Coforge's stock has underperformed, falling 4.09% against its sector, which itself has declined by 3.31%. The stock has experienced a consecutive decline over the past three days, with a total drop of 11.36%. Today, it opened down by 2.13% and reached an intraday low of Rs 7159.75, reflecting a decrease of 7.75% at its lowest point.

Coforge is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, highlighting a bearish trend. The stock's volatility today was notable, with an intraday fluctuation of 5.02%. Additionally, the delivery volume has shown a rise of 10.64% compared to the 5-day average, suggesting increased investor participation. Overall, while the trading activity in options is robust, the underlying stock performance reflects significant challenges.