Surge in Active Call Options: Tech Mahindra Sees 10,098 Contracts at Rs 1460 Strike

Tech Mahindra 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 company’s underlying stock, TECHM, is currently valued at Rs 1465.1. Notably, two call options with expiry dates set for May 29, 2025, have garnered attention. The first option, with a strike price of Rs 1460, saw 10,098 contracts traded, resulting in a turnover of approximately Rs 2814.17 lakhs and an open interest of 1,028 contracts. The second option, with a strike price of Rs 1500, recorded 11,627 contracts traded and a turnover of around Rs 2057.65 lakhs, alongside an open interest of 1,377 contracts.
Despite this activity, Tech Mahindra's stock has underperformed its sector by 0.79% today, marking a trend reversal after five consecutive days of gains. The stock's performance metrics indicate it is currently above its 5-day and 20-day moving averages but below the 50-day, 100-day, and 200-day moving averages. Additionally, the stock has experienced a delivery volume of 33.68 lakhs, which is a notable increase of 95.59% compared to its 5-day average. Overall, Tech Mahindra's trading dynamics today highlight a blend of increased investor participation and a shift in performance trends.