ONGC Sees Surge in Call Options with 3,029 Contracts at Rs 245 Strike Price

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 industry with a market capitalization of Rs 3,07,134.94 crore, has seen notable trading activity in its call options expiring on July 31, 2025. The strike price for these options is set at Rs 245, with a total of 3,029 contracts traded, resulting in a turnover of Rs 369.009 lakhs. The open interest stands at 5,605 contracts, indicating a robust interest in this option.
In terms of performance, ONGC has outperformed its sector by 0.87%, marking a trend reversal after two consecutive days of decline. The stock's current value is Rs 244.27, which is higher than the 100-day moving average but lower than the 5-day, 20-day, 50-day, and 200-day moving averages. Despite a decrease in delivery volume by 13.22% compared to the 5-day average, the stock maintains a high dividend yield of 5.71%. Additionally, it remains liquid enough for trades sized at Rs 6.63 crore, based on 2% of the 5-day average traded value. Overall, ONGC's activity today reflects a significant engagement in the market, highlighting its position within the oil sector.