Surge in Mahindra & Mahindra Ltd's Active Put Options: 7,789 Contracts Traded at Rs 3100 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’s underlying stock, M&M, is currently trading at Rs 3187.8, just 2.47% away from its 52-week high of Rs 3270.95.
Today, a significant number of put contracts were traded, with 7,789 contracts exchanged, resulting in a turnover of approximately Rs 698.98 lakhs. The open interest stands at 1,678 contracts, indicating a robust interest in this option type, which expires on July 31, 2025, with a strike price set at Rs 3100.

In terms of performance, M&M has outperformed its sector by 1.41%, with a one-day return of 2.11%. The stock has shown consistent gains over the past three days, accumulating a total return of 3.87%. 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, suggesting a strong upward trend.

Investor participation has also risen, with a delivery volume of 20.38 lakhs on July 15, marking a 41.86% increase compared to the 5-day average. The stock's liquidity remains healthy, accommodating trade sizes of Rs 15.31 crores based on 2% of the 5-day average traded value.

In summary, Mahindra & Mahindra Ltd's notable activity in the options market, coupled with its strong performance metrics, underscores its current market position without venturing into future predictions or recommendations.