ONGC Sees Surge in Call Options with 9,386 Contracts at Rs 255 Strike Price

Oil & Natural Gas Corporation Ltd. (ONGC) has emerged as one of the most active stocks today, reflecting significant trading activity in the options market. The company, a major player in the oil industry with a market capitalization of Rs 3,17,148.84 crore, has seen a notable surge in call options, particularly with an expiry date set for June 26, 2025. The strike price for these options is set at Rs 255, with 9,386 contracts traded, resulting in a turnover of approximately Rs 258.08 lakh. Open interest stands at 10,106 contracts, indicating robust market engagement.
In terms of performance, ONGC has outperformed its sector by 1.25%, marking a consecutive gain over the last three days with a total return of 0.87% during this period. The stock's current value is Rs 252.05, which is above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average. Additionally, the stock boasts a high dividend yield of 5.48% and has shown rising investor participation, with a delivery volume of 94.28 lakh shares on June 20, up 4.9% from the 5-day average.

In summary, ONGC's active trading in options and solid performance metrics highlight its current market position, reflecting a dynamic trading environment without delving into future predictions or recommendations.