Surge in Tata Elxsi Call Options: 38,643 Contracts Traded at Rs 5,500 Strike

Tata Elxsi Ltd., a prominent player in the IT software industry, has emerged as one of the most active stocks today, reflecting significant trading activity in its options market. The stock, which currently holds an underlying value of Rs 5,341, saw a notable surge in call options, with 38,643 contracts traded for the expiry date of April 24, 2025, at a strike price of Rs 5,500. This activity generated a turnover of approximately Rs 1,521.37 lakhs, while open interest stood at 2,547 contracts.
In terms of performance, Tata Elxsi has shown resilience, gaining 1.09% today, which is in line with sector performance, contrasting with a sector decline of 0.43%. The stock has been on a slight upward trend, recording a consecutive gain over the past day, albeit with a modest return of -0.22% over that period. The weighted average price indicates that more volume was traded closer to the low price, suggesting a strategic positioning by traders.

Additionally, the stock's liquidity remains robust, with a delivery volume of 344,000 shares on April 21, marking a 239.75% increase compared to the five-day average. While Tata Elxsi's moving averages indicate it is performing better than the 5-day and 20-day averages, it remains below the 50-day, 100-day, and 200-day moving averages, highlighting a mixed performance trend.

In summary, Tata Elxsi's active trading in call options and its recent performance metrics underscore its dynamic position within the IT software sector, reflecting ongoing investor engagement and market activity.