Surge in Mahindra & Mahindra Active Put Options: Over 7,000 Contracts at Rs 3200 Strike

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 company has seen significant trading activity with two notable put options set to expire on July 31, 2025, and August 28, 2025, both with a strike price of Rs 3200. The July expiry option recorded 7,172 contracts traded, generating a turnover of Rs 407.08 lakh, while the August expiry option saw 7,088 contracts traded, resulting in a turnover of Rs 1,466.37 lakh.
Despite this activity, Mahindra & Mahindra's stock has underperformed, falling 2.27% over the last two days, with a one-day return of -2.11%. The stock touched an intraday low of Rs 3116.7, reflecting a decline of 2.7%. Currently, the underlying value stands at Rs 3221.3, with open interest for the July option at 522 contracts and for the August option at 2,325 contracts.

The stock remains liquid, with a delivery volume of 20.6 lakh on July 31, which is a 74.36% increase compared to the five-day average. While the stock is trading above its 50, 100, and 200-day moving averages, it is below its 5 and 20-day moving averages, indicating mixed performance trends. Overall, Mahindra & Mahindra's recent activity in the options market highlights a notable interest in its put options amid a challenging trading environment.