Kotak Mahindra Bank Call Options Surge: 7,656 Contracts at Rs 2180 Strike Traded

Kotak Mahindra Bank Ltd, a prominent player in the private sector banking industry, has emerged as one of the most active stocks today, particularly in the options market. The bank's underlying stock, KOTAKBANK, is currently valued at Rs 2163.8. Notably, two call options with expiry dates set for October 28, 2025, have garnered significant attention. The first option, with a strike price of Rs 2200, saw 7,329 contracts traded, resulting in a turnover of Rs 148.05 lakhs and an open interest of 2,629 contracts. The second option, with a strike price of Rs 2180, recorded 7,656 contracts traded, leading to a turnover of Rs 305.93 lakhs and an open interest of 1,607 contracts.
Despite this activity, Kotak Mahindra Bank's stock has underperformed the sector by 1.69% today, continuing a downward trend with a 2.84% decline over the past two days. The stock reached an intraday low of Rs 2122, reflecting a 2.97% drop. While the stock remains above its 20, 50, 100, and 200-day moving averages, it is currently below the 5-day moving average. Additionally, delivery volume has decreased by 25.93% compared to the 5-day average, indicating a decline in investor participation. Overall, Kotak Mahindra Bank's performance today highlights a complex interplay of trading activity and market dynamics.