Mahindra & Mahindra's Call Options Surge with 2,503 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 stock, which closed near its 52-week high, is currently just 2.85% away from reaching Rs 3270.95. Today, the company saw a notable performance with a 1.11% increase in its stock price, outperforming the sector's return of 0.79% and the Sensex's modest gain of 0.09%.
In the options market, Mahindra & Mahindra's call options with a strike price of Rs 3200 have attracted considerable interest, with 2,503 contracts traded, resulting in a turnover of Rs 482.53 lakhs. The open interest stands at 5,272 contracts, indicating a robust engagement from traders. The underlying value of the stock is reported at Rs 3199.9.

Despite a recent trend reversal after four consecutive days of decline, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is slightly below the 5-day moving average. However, there has been a decline in investor participation, with delivery volume dropping by 24.81% compared to the five-day average.

Overall, Mahindra & Mahindra's current trading dynamics highlight its active status in the market, driven by substantial options activity and a recent uptick in stock performance.