Mahindra & Mahindra Ltd Sees Surge in Call Options with 16,538 Contracts at Rs 3200 Strike

Mahindra & Mahindra Ltd, a prominent player in the automobiles sector, has emerged as one of the most active stocks today, reflecting significant trading activity. The company’s stock, trading under the symbol M&M, has seen a notable surge, closing just 2.47% away from its 52-week high of Rs 3270.95.
Today, M&M's call options with a strike price of Rs 3200 have attracted considerable interest, with 16,538 contracts traded, resulting in a turnover of approximately Rs 1808.60 lakhs. The open interest stands at 6,531 contracts, indicating robust market engagement. The underlying value of the stock is reported at Rs 3199.9.

In terms of performance, M&M has outperformed its sector by 1.41%, marking a 2.11% return for the day. The stock has been on an upward trajectory, gaining 3.87% over the last three days. It reached an intraday high of Rs 3210, reflecting a 2.6% increase. Additionally, M&M is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, showcasing a strong bullish trend.

Investor participation has also risen, with a delivery volume of 20.38 lakhs on July 15, up by 41.86% compared to the 5-day average. The liquidity of the stock remains favorable, supporting a trade size of Rs 15.31 crores based on 2% of the 5-day average traded value.

In summary, Mahindra & Mahindra's current trading activity highlights its strong market position and positive performance metrics, reflecting a dynamic environment in the automobile sector.