Surge in Call Options: Reliance Industries Sees 46,900 Contracts at Rs 1440 Strike

Reliance Industries Ltd, a prominent player in the oil industry, has emerged as one of the most active stocks today, particularly in the options market. The company’s underlying stock, RELIANCE, is currently valued at Rs 1428.2. Notably, several call options with an expiry date of July 31, 2025, have seen significant trading activity.
The call option with a strike price of Rs 1440 led the activity, with 46,900 contracts traded and a turnover of Rs 4,417.98 lakhs, alongside an open interest of 9,686 contracts. Following closely, the Rs 1480 strike price option recorded 43,603 contracts traded and a turnover of Rs 1,297.19 lakhs, with an open interest of 9,872. Other notable strike prices include Rs 1460, with 39,895 contracts traded and a turnover of Rs 2,196.22 lakhs, and Rs 1470, which saw 31,050 contracts traded and a turnover of Rs 1,232.69 lakhs.

Despite this activity, Reliance Industries has underperformed its sector by 0.28% today, continuing a downward trend with a 4.23% decline over the past four days. The stock's performance metrics indicate it is currently above the 100-day and 200-day moving averages but below the shorter-term averages. The liquidity remains robust, with a delivery volume of 1.58 crore on July 21, reflecting a 104.17% increase against the five-day average.

In summary, Reliance Industries Ltd is witnessing heightened options trading activity, particularly in call options, amidst a challenging performance backdrop.