Surge in Open Interest for Supreme Industries Signals Increased Derivatives Market Activity
Supreme Industries Ltd has seen a notable rise in open interest, reaching 15,408 contracts, alongside a trading volume of 35,259 contracts, indicating increased activity in the derivatives market. Despite this, the stock has underperformed its sector and remains below several key moving averages, suggesting a complex market position.
Supreme Industries Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 15,408 contracts, marking a rise of 2,588 contracts or 20.19% from the previous open interest of 12,820. This surge coincides with a trading volume of 35,259 contracts, reflecting heightened activity in the derivatives market.In terms of performance, Supreme Industries has underperformed its sector by 1.22%, with a one-day return of -1.89%. The stock has been on a slight upward trend, gaining -0.98% over the last day. The weighted average price indicates that more volume was traded closer to the low price, suggesting a potential shift in trading dynamics.
Despite the recent increase in open interest, the stock remains below its 5-day, 20-day, 50-day, and 200-day moving averages, although it is higher than the 100-day moving average. The liquidity of the stock is adequate, with a delivery volume of 1.29 lakh on July 23, which has increased by 38.67% compared to the 5-day average delivery volume.
In summary, the notable rise in open interest for Supreme Industries reflects increased trading activity, while the stock's performance metrics indicate a complex market position.
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