7,041 Call Contracts at Rs 1,100 Strike on Infosys Ltd Signal Near-Term Directional Interest

Options Event and Cash Market Price Action

The most active call options on Infosys Ltd on 22 Jun 2026 were the Rs 1,100 and Rs 1,060 strikes, with 7,041 and 7,101 contracts traded respectively. The Rs 1,100 strike calls generated a turnover of approximately ₹210.39 lakhs, while the Rs 1,060 strike calls saw a significantly higher turnover of ₹564.39 lakhs. The underlying stock closed at Rs 1,063.70, just below the Rs 1,060 strike, indicating that both strikes are positioned close to the money. The expiry date for these options is 30 Jun 2026, less than ten trading days away, underscoring the short-term nature of these bets. Infosys Ltd also gained 1.32% on the day, reflecting positive momentum in the cash market that complements the options activity — is this alignment signalling a sustained directional move or a short-lived spike?

Strike Price and Moneyness Analysis

The Rs 1,100 strike calls are slightly out-of-the-money (OTM) given the stock’s closing price of Rs 1,063.70, while the Rs 1,060 strike calls are effectively at-the-money (ATM). The proximity of these strikes to the current price suggests that traders are positioning for a near-term upward move, with the Rs 1,060 calls reflecting immediate directional conviction and the Rs 1,100 calls representing a speculative upside target. The Rs 1,100 strike is approximately 3.4% above the current price, indicating a moderate upside expectation within the next week. The selection of these strikes reveals a layered approach to bullish positioning, combining both precision and speculative bets — what does this layered strike selection imply about trader sentiment?

Open Interest and Contracts Analysis

Open interest (OI) at the Rs 1,100 strike stands at 6,811 contracts, while the Rs 1,060 strike has an OI of 6,161 contracts. The number of contracts traded on 22 Jun (7,041 and 7,101 respectively) slightly exceeds the existing open interest, resulting in contracts-to-OI ratios above 1 for both strikes. This unusually high ratio indicates predominantly fresh positioning rather than the recycling of existing positions. Such a surge in fresh call buying close to expiry suggests traders are actively establishing new bullish bets rather than merely adjusting prior holdings. The OI levels themselves are substantial, reflecting well-established interest in these strikes, but the volume spike points to a recent acceleration in activity — does this fresh positioning signal confidence or heightened short-term speculation?

Cash Market Context: Price Momentum and Moving Averages

Infosys Ltd has gained 1.32% on 22 Jun 2026, extending a modest recovery after two consecutive days of decline. However, the stock remains below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating that the broader trend is still subdued. This divergence between short-term gains and longer-term moving averages suggests that while the options market is positioning for a near-term bounce, the overall technical backdrop remains cautious. The stock is also trading just 3.01% above its 52-week low of Rs 1,030, highlighting the recent weakness. does the options market’s bullish positioning anticipate a technical turnaround or is it a tactical short-term play?

Delivery Volume and Market Participation

Delivery volumes on 19 Jun surged to 2.35 crore shares, a 329.89% increase over the 5-day average, signalling heightened investor participation in the cash market just days before the options expiry. This spike in delivery volume supports the notion that the recent call option activity is not isolated to the derivatives market but is accompanied by genuine cash market engagement. Such alignment between delivery volumes and call buying strengthens the case for meaningful short-term interest in Infosys Ltd — is this a sign of conviction or merely a transient surge ahead of expiry?

Key Data at a Glance

Conclusion: What the Options and Cash Data Collectively Signal

The concentrated call option activity at strikes close to the current price, combined with a contracts-to-open interest ratio exceeding 1, points to fresh and deliberate positioning in Infosys Ltd. The near-term expiry adds urgency to these bets, suggesting traders are anticipating a directional move within the next week. The stock’s modest gain on the day and the surge in delivery volumes lend some support to this view, although the stock remains below key moving averages and near its 52-week low, tempering the broader technical outlook. This juxtaposition of fresh call buying and cautious longer-term technicals raises the question of whether the options market is signalling a genuine short-term rebound or a tactical speculative play — buy, sell, or hold Infosys Ltd given these mixed signals?

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