Call Option Trading Highlights
Data from recent sessions reveals that Multi Commodity Exchange of India Ltd has been among the most actively traded stocks in call options. The December 30, 2025 expiry contracts have seen substantial volumes, particularly at strike prices of ₹10,000, ₹10,400, and ₹11,000. The ₹11,000 strike price recorded the highest number of contracts traded at 4,555, with an open interest of 2,398 contracts, indicating strong interest in this higher strike level.
The ₹10,000 strike price call options saw 2,963 contracts traded, generating a turnover of approximately ₹1634.3 lakhs, while the ₹10,400 strike price recorded 4,018 contracts with a turnover of ₹1304.9 lakhs. These figures suggest that market participants are positioning for potential upside beyond the current underlying value of ₹10,125.
Open interest figures further corroborate this trend, with the ₹10,000 strike price holding 1,253 contracts and the ₹10,400 strike price at 867 contracts. The concentration of open interest at these strikes points to a strategic focus on near-the-money and slightly out-of-the-money call options, reflecting a cautiously optimistic outlook.
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Price Performance and Market Context
Multi Commodity Exchange of India Ltd has recently touched a new 52-week and all-time high of ₹10,148, marking an intraday peak that outperformed its sector by 2.07%. Over the last three trading sessions, the stock has recorded a cumulative gain of 4.63%, signalling sustained buying interest. The stock’s performance has also outpaced the broader Sensex, which posted a 0.47% return on the same day, and the capital markets sector’s 0.97% return.
Technical indicators show that MCX is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend across multiple timeframes. This technical positioning aligns with the active call option interest, as traders appear to be anticipating further price appreciation.
However, delivery volumes have shown a decline, with the delivery volume on 25 November recorded at 80.2 thousand shares, down by 48.2% compared to the five-day average. This reduction in investor participation could indicate a shift in trading behaviour, possibly reflecting a preference for derivatives over outright equity positions in the near term.
Liquidity remains adequate for sizeable trades, with the stock’s average traded value supporting transaction sizes up to approximately ₹8.84 crores based on 2% of the five-day average traded value. This level of liquidity is favourable for institutional and retail investors alike, facilitating efficient market participation.
Options Expiry and Strike Price Dynamics
The December 30, 2025 expiry date is a focal point for options traders in MCX, with the concentration of call option activity suggesting a strategic build-up ahead of this date. The strike prices at ₹10,000 and ₹10,400 are particularly noteworthy, as they bracket the current underlying price and offer a range for bullish bets.
The highest strike price with significant activity, ₹11,000, indicates that some market participants are positioning for a more pronounced upside move. The open interest at this strike is the largest among the three, which may reflect expectations of a potential breakout beyond current levels by the expiry date.
Turnover figures across these strikes highlight the substantial capital flowing into call options, with the ₹10,000 strike generating the largest turnover of ₹1634.3 lakhs. This suggests that traders are allocating considerable resources to hedge or speculate on upward price movements in MCX.
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Sector and Market Capitalisation Overview
Operating within the capital markets sector, Multi Commodity Exchange of India Ltd holds a market capitalisation of approximately ₹51,681.75 crores, categorising it as a mid-cap stock. This positioning provides a balance between growth potential and market stability, attracting a diverse investor base.
The capital markets sector itself has shown moderate returns, with MCX’s recent outperformance highlighting its relative strength. The stock’s ability to maintain levels above key moving averages and its active derivatives market participation underscore its significance within the sector.
Investors and traders monitoring MCX should consider the interplay between the underlying equity performance and the derivatives market activity. The call option volumes and open interest data provide valuable insights into market sentiment and potential price trajectories as the December expiry approaches.
Outlook and Considerations for Investors
While the active call option trading in Multi Commodity Exchange of India Ltd points to a bullish sentiment, investors should remain mindful of broader market conditions and sector dynamics. The recent decline in delivery volumes may suggest a cautious stance among some participants, even as derivatives activity intensifies.
Market participants may find value in analysing the strike price distribution and expiry patterns to gauge the range of expectations embedded in option prices. The concentration of open interest at higher strike prices could indicate anticipation of further gains, but also implies a degree of risk if the underlying price fails to reach these levels by expiry.
Overall, the data reflects a nuanced market environment where MCX is positioned for potential upside, supported by strong technicals and active derivatives interest. Investors should continue to monitor price action, volume trends, and open interest changes to inform their strategies.
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