GAIL (India) Ltd Sees Surge in Call Options with 5,300 Contracts Traded at Rs 185

GAIL (India) Ltd has emerged as one of the most active stocks today, particularly in the options market. The company, operating within the gas industry and classified as a large-cap entity with a market capitalization of Rs 1,20,179.67 crore, has seen significant trading activity in its call options. Notably, 5,300 contracts were traded for the call option with a strike price of Rs 185, resulting in a turnover of Rs 530.901 lakh. The open interest for this option stands at 1,955 contracts, indicating a robust interest among traders.
In terms of performance, GAIL has outperformed its sector by 0.93% today, marking a consecutive gain over the last four days with a total return of 6.27% during this period. The stock reached an intraday high of Rs 183.8, reflecting a 2.68% increase. Currently, GAIL's underlying value is Rs 182.5, and it is trading above its 5-day, 20-day, 50-day, and 200-day moving averages, although it remains below the 100-day moving average.

Despite a slight decline in delivery volume, which has decreased by 11.94% compared to the 5-day average, GAIL maintains a high dividend yield of 4.19% at the current price. The liquidity of the stock is adequate for trades sized at Rs 3.17 crore, based on 2% of the 5-day average traded value. Overall, GAIL (India) Ltd continues to demonstrate notable activity and resilience in the market.