Tech Mahindra Sees Surge in Put Options Activity with 5,381 Contracts at Rs 1600 Strike

Tech Mahindra Ltd., a prominent player in the Computers - Software & Consulting industry, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, TECHM, is currently valued at Rs 1580.8. Notably, two put options with expiry dates set for July 31, 2025, have garnered significant attention.
The put option with a strike price of Rs 1580 saw 4,401 contracts traded, resulting in a turnover of approximately Rs 712.43 lakhs, while the option with a strike price of Rs 1600 recorded 5,381 contracts traded and a turnover of about Rs 1,192.64 lakhs. Open interest for these options stands at 783 and 1,405 contracts, respectively.

Despite this activity, Tech Mahindra's stock performance today has underperformed the sector by 1.38%, with a one-day return of -1.80%. The stock reached an intraday low of Rs 1572.3, reflecting a decline of 2.21%. While the stock is trading above its 100-day moving averages, it remains below the 5-day, 20-day, 50-day, and 200-day moving averages. The liquidity remains robust, with a delivery volume of 12.87 lakhs, indicating a 1.25% increase against the 5-day average.

In summary, Tech Mahindra's notable activity in put options highlights the current market dynamics, even as the stock faces challenges in performance metrics.