Eternal Ltd Sees Surge in Active Call Options with 8,546 Contracts Traded

Eternal Ltd, a prominent player in the IT software industry, has emerged as one of the most active stocks today, reflecting significant trading activity in its options market. The company’s underlying stock, ETERNAL, saw a notable surge in call options, with 8,546 contracts traded, resulting in a turnover of Rs 1,627.54 lakhs. The options, set to expire on May 29, 2025, have a strike price of Rs 240, with an open interest of 2,757 contracts, indicating robust investor engagement.
In terms of price performance, Eternal opened the day with a loss of 5.36%, hitting an intraday low of Rs 220.05 before recovering to reach a high of Rs 239.44, marking a 2.98% increase from the previous close. The stock has outperformed its sector by 1.68% and has shown a consecutive gain over the last three days, accumulating a total return of 4.96% during this period.

Despite the initial gap down, the stock's weighted average price suggests that more volume was traded closer to its low price. Additionally, it remains liquid enough for trades sized at Rs 8.28 crore, with delivery volume rising by 32.57% against the five-day average. Currently, ETERNAL's moving averages indicate it is performing better than the 5-day, 20-day, and 50-day averages, although it remains below the 100-day and 200-day averages.

In summary, Eternal Ltd's stock activity today highlights a mix of volatility and resilience, reflecting the dynamic nature of the IT software sector.