Surge in Mahindra & Mahindra's Put Options: 2,599 Contracts at Rs 3200 Strike Active Today

Mahindra & Mahindra Ltd, a prominent player in the automobiles sector, has emerged as one of the most active stocks in the options market today, particularly in put options. The stock, currently valued at Rs 3172.8, has seen significant trading activity with multiple put options attracting attention. Notably, the put option with a strike price of Rs 3200 and an expiry date of August 28, 2025, recorded 2,599 contracts traded, resulting in a turnover of Rs 641.28 lakhs and an open interest of 1,667 contracts. Another put option with the same strike price but expiring on July 31, 2025, saw 2,035 contracts traded and a turnover of Rs 211.15 lakhs, with an open interest of 1,200.
Despite this activity, Mahindra & Mahindra's stock performance today has underperformed the sector by 0.74%, with a one-day return of -1.45%. The stock has been gaining momentum recently, with a slight rise of 2.21% over the last day. However, it touched an intraday low of Rs 3135.6, reflecting a decline of 2.28%. The stock remains liquid, with a delivery volume of 12.66 lakhs, which is an 8.5% increase compared to the five-day average. Overall, the trading dynamics around Mahindra & Mahindra's put options highlight a notable interest in the stock, amidst a backdrop of fluctuating performance metrics.