Power Grid Corporation Sees 2,972 Call Contracts at Rs 290 Despite 5.38% Decline

Power Grid Corporation of India Ltd has emerged as one of the most active stocks today, particularly in the options market. The underlying asset, POWERGRID, saw significant activity with 2,972 call contracts traded, reflecting a turnover of Rs 95.92 lakhs. The options have an expiry date set for November 25, 2025, with a strike price of Rs 290. Open interest stands at 2,815 contracts, indicating ongoing interest in this stock.
Despite this activity, Power Grid has underperformed its sector by 2.01% today, continuing a downward trend with a cumulative decline of 5.38% over the past four days. The stock reached an intraday low of Rs 278.65, down 3.25% from the previous close. Currently, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish sentiment.

Investor participation appears to be waning, with delivery volume dropping by 36.97% compared to the 5-day average. However, the stock maintains a high dividend yield of 3.09%, and its liquidity remains adequate for trades up to Rs 6.91 crore, based on 2% of the 5-day average traded value. Overall, while Power Grid Corporation of India Ltd is experiencing notable trading activity, it faces challenges in performance metrics and investor engagement.