Surge in Call Options: Sun Pharmaceutical Sees 12,666 Contracts at Rs 1,700 Strike

Sun Pharmaceutical Industries Ltd has emerged as one of the most active stocks today, particularly in the options market. The company, operating within the Pharmaceuticals & Drugs sector, saw significant trading activity in its call options, with 12,666 contracts traded for a strike price of Rs 1,700, resulting in a turnover of approximately Rs 1,721.80 lakhs. The underlying stock value is currently at Rs 1,685.70, reflecting a challenging trading environment.
Today, Sun Pharma underperformed its sector by 3.41%, continuing a downward trend with a five-day consecutive decline totaling 8.12%. The stock opened with a gap down of 2.81% and reached an intraday low of Rs 1,623.60, marking a decrease of 6.95%. The weighted average price indicates that more volume was traded closer to this low price, suggesting a bearish sentiment among traders.

Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. Open interest stands at 4,096 contracts, while delivery volume has decreased significantly, falling by 44.53% compared to the five-day average. With a market capitalization of Rs 4,04,431.90 crore, Sun Pharmaceutical remains a notable player in the large-cap segment, despite current challenges.