Surge in Mahindra & Mahindra Call Options: 8,571 Contracts at Rs 3200 Strike Price

Mahindra & Mahindra Ltd, a prominent player in the automobiles sector, has emerged as one of the most active stocks today, reflecting significant trading activity in its options market. The company’s underlying stock, M&M, is currently valued at Rs 3185.7, just 2.69% shy of its 52-week high of Rs 3270.95.
Today, a total of 8,571 call contracts were traded, generating a turnover of approximately Rs 1,570.61 lakhs. The open interest stands at 4,545 contracts, indicating a robust interest in the stock's performance. The options have an expiry date set for July 31, 2025, with a strike price of Rs 3200.

In terms of performance, M&M has shown resilience, gaining 0.14% today, which is in line with the sector's performance and slightly outperforming the Sensex's return of 0.10%. Notably, the stock has reversed its trend after two consecutive days of decline and is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, it is worth noting that investor participation has seen a decline, with delivery volume dropping by 24.35% compared to the 5-day average.

In summary, Mahindra & Mahindra's active trading today highlights its strong market position and liquidity, making it a focal point for market participants.