One 97 Communications Sees Robust Call Option Activity Ahead of December Expiry

Concentrated Call Option Trading at Key Strike Prices

Data from recent trading sessions reveals that One 97 Communications has experienced heavy call option volumes clustered around strike prices close to the current underlying value of ₹1,326. The most actively traded call options include strikes at ₹1,300, ₹1,320, ₹1,340, and ₹1,400, all expiring on 30 December 2025. Among these, the ₹1,340 strike recorded the highest number of contracts traded, with 6,017 contracts exchanging hands, generating a turnover of approximately ₹1,879.29 lakhs. This is closely followed by the ₹1,320 strike with 4,584 contracts and a turnover of ₹1,734.81 lakhs.

The ₹1,400 strike, despite being the highest among these strikes, saw 4,201 contracts traded with a turnover of ₹631.99 lakhs, indicating a more selective but still substantial interest at this level. Open interest figures remain robust across these strikes, with the ₹1,340 strike holding the largest open interest at 1,506 contracts, suggesting sustained investor commitment to positions at this level.

Underlying Stock Performance and Market Context

One 97 Communications is trading near its 52-week high, currently just 1.94% shy of the peak price of ₹1,353.8. The stock has outperformed its Financial Technology sector peers by 2.9% in the latest session, registering a day’s gain of 2.61% compared to the sector’s decline of 0.21%. Over the past three consecutive trading days, the stock has delivered a cumulative return of 6.98%, reflecting a positive momentum trend.

Intraday, the stock touched a high of ₹1,336.4, representing a 3.35% increase from the previous close. Additionally, One 97 Communications is trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, which often signals a bullish technical setup.

However, investor participation as measured by delivery volume has shown a decline, with the delivery volume on 27 November falling by 78.87% compared to the five-day average. Despite this, liquidity remains sufficient for sizeable trades, with the stock supporting a trade size of approximately ₹33.21 crore based on 2% of the five-day average traded value.

Implications of Call Option Activity on Market Sentiment

The concentration of call option contracts at strike prices near and slightly above the current market price suggests a degree of bullish positioning among traders. The substantial open interest at the ₹1,340 strike price, combined with the high turnover, indicates that market participants are positioning for a potential upward move in One 97 Communications’ share price before the December expiry.

Such activity often reflects expectations of positive catalysts or continued momentum in the stock. The presence of significant call option volumes at the ₹1,400 strike, which is approximately 5.5% above the current underlying value, further underscores a segment of the market anticipating a more pronounced price appreciation over the coming weeks.

Sector and Market Capitalisation Context

Operating within the Financial Technology (Fintech) sector, One 97 Communications holds a market capitalisation of approximately ₹84,830.53 crore, categorising it as a mid-cap stock. This positioning places it among notable peers in a sector characterised by rapid innovation and evolving consumer adoption trends.

The stock’s recent performance relative to the broader Sensex, which recorded a marginal gain of 0.07% on the same day, highlights its relative strength. This outperformance may be a factor contributing to the heightened options market activity as investors seek to capitalise on the stock’s momentum.

Expiry Patterns and Investor Positioning

The 30 December 2025 expiry date for these call options is a focal point for traders, as it marks the end of the current options cycle. The clustering of open interest and traded volumes at strikes close to the current price suggests that investors are actively managing their positions with an eye on this timeline.

Options expiry often brings increased volatility and trading volumes, as market participants adjust or close positions. The data indicates that One 97 Communications is likely to remain a key focus for options traders in the coming weeks, with the potential for price movements influenced by both technical factors and broader sector developments.

Balancing Momentum with Caution

While the call option activity and recent price performance point to a positive market sentiment, the notable decline in delivery volumes signals a degree of caution among long-term investors. Reduced delivery volumes may imply that fewer shares are being taken into physical possession, which can sometimes indicate speculative trading rather than sustained accumulation.

Investors and traders should consider this dynamic alongside the technical indicators and options market data when assessing the stock’s outlook. The liquidity profile of One 97 Communications supports active trading, but market participants should remain attentive to broader market conditions and sector-specific news that could influence price trajectories.

Summary

One 97 Communications is currently experiencing significant call option trading interest, particularly at strike prices ranging from ₹1,300 to ₹1,400, all expiring on 30 December 2025. The stock’s proximity to its 52-week high, combined with outperformance relative to its sector and the Sensex, underlines a positive momentum backdrop. However, the decline in delivery volumes suggests a nuanced market participation profile.

Overall, the options market activity reflects a predominantly bullish stance among traders, with expectations of potential price appreciation in the near term. As expiry approaches, One 97 Communications remains a stock to watch for investors focused on the Financial Technology sector.

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