Call Option Activity Highlights
Among the most actively traded call options on MCX, contracts with strike prices of ₹10,500 and ₹11,000 for the 30 December 2025 expiry have garnered substantial interest. The ₹11,000 strike call options recorded 3,510 contracts traded, generating a turnover of approximately ₹511.93 lakhs, with open interest standing at 3,406 contracts. Meanwhile, the ₹10,500 strike calls saw 3,318 contracts exchanged, with a turnover of ₹1,228.86 lakhs and open interest of 1,773 contracts.
This concentration of activity at these strike prices, both above the current underlying value of ₹10,473, indicates a market expectation that the stock price may move higher by the end of the year. The open interest figures further reinforce the sustained interest in these strikes, suggesting that traders are positioning for potential upside in MCX’s share price.
Underlying Stock Performance and Technical Context
MCX’s underlying stock price has recently reached a new 52-week and all-time high of ₹10,516, reflecting positive momentum. Over the last two trading sessions, the stock has delivered a cumulative return of 3.67%, outperforming its sector by 1.42%. On the day of the latest data, MCX posted a 1.36% gain, contrasting with the sector’s decline of 0.42% and the Sensex’s fall of 0.26%.
From a technical standpoint, MCX is trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This alignment typically signals a sustained upward trend, which may be encouraging traders to adopt bullish option strategies.
However, it is noteworthy that investor participation, as measured by delivery volume, has shown a decline. On 5 December, delivery volume stood at 1.38 lakh shares, down by 30.12% compared to the five-day average. This reduction in delivery volume may suggest some caution among long-term holders despite the price gains.
Our current monthly pick, this Mid Cap from Automobile Two & Three Wheelers, survived rigorous evaluation against dozens of contenders. See why experts are backing this one!
- - Rigorous evaluation cleared
- - Expert-backed selection
- - Mid Cap conviction pick
Liquidity and Market Capitalisation
MCX is classified as a mid-cap stock with a market capitalisation of approximately ₹52,783 crores. The stock’s liquidity profile supports sizeable trades, with the average traded value over five days allowing for trade sizes up to ₹9.88 crores based on 2% of the average volume. This level of liquidity is conducive to active trading in both the cash and derivatives segments.
Expiry Patterns and Investor Positioning
The December 2025 expiry is attracting concentrated option activity, particularly in call options with strike prices slightly above the current market price. This pattern suggests that investors are positioning for a potential price appreciation in the near term. The higher open interest at the ₹11,000 strike compared to the ₹10,500 strike may indicate a preference for more optimistic price targets among option traders.
Such positioning often reflects expectations of favourable market conditions or company-specific developments that could drive the stock price upwards before the expiry date. The combination of rising stock prices, strong option turnover, and elevated open interest at these strikes points to a bullish sentiment prevailing in the market.
Thinking about Multi Commodity Exchange of India ? Our real-time Verdict report breaks down everything – from financial health and peer comparison to technical signals and fair valuation for this mid-cap stock!
- - Real-time Verdict available
- - Financial health breakdown
- - Fair valuation calculated
Sector Context and Comparative Performance
Operating within the capital markets sector, MCX’s recent outperformance relative to its peers and the broader Sensex index highlights its distinct market dynamics. While the sector experienced a decline of 0.42% on the latest trading day, MCX’s positive return of 1.36% underscores its relative strength.
This divergence may be attributed to the company’s unique positioning as a commodity exchange, which can be influenced by factors such as commodity price trends, regulatory developments, and trading volumes in the derivatives market. Investors and traders appear to be factoring these elements into their option strategies, as reflected in the active call option volumes.
Outlook and Considerations for Investors
Given the current option market activity and underlying stock performance, market participants may view MCX as a candidate for further price appreciation in the near term. The concentration of call option interest at strike prices above the current market level suggests optimism about the stock’s trajectory through the December expiry.
However, the decline in delivery volumes signals a degree of caution among some investors, which could temper the pace of gains. As always, investors should consider broader market conditions, sector trends, and company fundamentals when analysing MCX’s prospects.
Overall, the data points to a market environment where bullish sentiment is evident in the derivatives segment, supported by technical strength and relative outperformance in the cash market.
Summary
Multi Commodity Exchange of India Ltd is currently experiencing heightened call option activity, particularly for the December 2025 expiry at strike prices ₹10,500 and ₹11,000. The underlying stock’s recent new highs and trading above key moving averages complement this derivatives market behaviour. While delivery volumes have moderated, the overall positioning suggests a bullish outlook among traders as the expiry approaches. Investors should monitor these developments alongside sector and market trends to gauge potential opportunities.
Get 1 year of Weekly Picks FREE when you subscribe to MojoOne. Offer ends soon. Start Saving Now →
