ONGC has emerged as one of the most active stock calls today amid rising options trading.
Oil & Natural Gas Corporation Ltd. (ONGC) has become a focal point in the options market, with substantial call options activity indicating long-term interest. The stock has shown consistent upward movement, trading above several moving averages while maintaining a high dividend yield and sufficient liquidity, despite a decline in delivery volume.
Oil & Natural Gas Corporation Ltd. (ONGC) has emerged as one of the most active stocks today, particularly in the options market. The company, a significant player in the oil exploration and refinery sector, has seen a notable surge in call options activity, with 15,522 contracts traded for a strike price of Rs 260, reflecting a premium turnover of Rs 714.13 lakhs. The options are set to expire on April 24, 2025, indicating a longer-term interest in the stock.Today, ONGC's underlying value stands at Rs 248.29, and the stock has outperformed its sector by 0.79%. Over the past four days, ONGC has shown a consistent upward trend, gaining 3.94% during this period. The stock has traded within a narrow range of Rs 2.45, demonstrating stability amid market fluctuations.
In terms of moving averages, ONGC is currently above its 5-day, 20-day, 50-day, and 100-day averages, although it remains below the 200-day moving average. Despite a decline in delivery volume, which has fallen by 36.27% against the 5-day average, the stock maintains a high dividend yield of 5.55% and sufficient liquidity for trades around Rs 7.31 crore.
In summary, ONGC's recent performance highlights its active status in the market, driven by significant options trading and a solid position within the oil exploration industry.
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