Eicher Motors Sees Surge in Call Options with 5,555 Contracts at Rs 6,900 Strike

Eicher Motors Ltd, a prominent player in the automobiles sector, has emerged as one of the most active stocks today, reflecting significant trading activity. The stock, trading under the ticker EICHERMOT, has seen a notable increase in call options, with 5,555 contracts traded for a strike price of Rs 6,900, resulting in a turnover of approximately Rs 1,212.14 lakhs. The open interest stands at 2,916 contracts, indicating a robust interest in this option.
Currently, Eicher Motors is valued at Rs 6,882, just 0.8% shy of its 52-week high of Rs 6,937. The stock has shown resilience, gaining 1.83% today, outperforming its sector, which returned 0.67%, and the Sensex, which saw a modest increase of 0.15%. After two consecutive days of decline, Eicher Motors has reversed its trend, reaching an intraday high of Rs 6,898, a rise of 2.07%.

Moreover, Eicher Motors is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. However, it is worth noting that the delivery volume has decreased by 2.4% compared to the 5-day average, with a total of 4.74 lakh shares delivered on September 11. The stock remains liquid, accommodating trade sizes of Rs 11.12 crore based on 2% of the 5-day average traded value. Overall, Eicher Motors continues to demonstrate significant activity and resilience in the current market landscape.