Strong Call Option Interest at ₹600 Strike Price
On 24 December 2025, Vedanta Ltd’s call options with a strike price of ₹600 and expiry on 30 December 2025 emerged as the most actively traded contracts. A total of 6,357 contracts exchanged hands, generating a turnover of approximately ₹3.03 crores. The open interest for these contracts stands at 5,329, indicating sustained investor interest and positioning ahead of the expiry.
The underlying stock price was recorded at ₹595.0, just shy of the ₹600 strike, which may be encouraging traders to speculate on a potential upward move in the coming days. This level of activity in call options often reflects expectations of price appreciation or hedging strategies by market participants.
Price Performance and Market Context
Vedanta Ltd’s stock price reached a new 52-week and all-time high of ₹594.5 on the day, marking a notable milestone. The stock has been on a consistent upward trajectory, registering gains for 12 consecutive trading sessions and delivering a cumulative return of 16.1% during this period. This performance contrasts with the broader Non-Ferrous Metals sector, which recorded a 2.94% gain on the same day, and the Sensex index, which moved up by 0.12%.
Despite the stock’s strong run, it underperformed the sector on the day by 2.28%, suggesting some profit-taking or consolidation near the recent highs. Vedanta is currently trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a sustained positive trend from a technical perspective.
Investor Participation and Liquidity Considerations
Investor participation, as measured by delivery volume, showed a decline with 45.59 lakh shares delivered on 23 December, down by 55.28% compared to the five-day average. This reduction in delivery volume may indicate cautious trading behaviour or a shift towards short-term speculative activity, particularly in the options market.
Liquidity remains adequate for sizeable trades, with the stock’s average traded value supporting transactions up to ₹20.73 crores based on 2% of the five-day average traded value. This liquidity profile facilitates active trading in both the cash and derivatives segments, attracting institutional and retail investors alike.
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Dividend Yield and Market Capitalisation
Vedanta Ltd offers a dividend yield of 5.37% at the current price level, which may appeal to income-focused investors seeking steady returns alongside capital appreciation. The company’s market capitalisation stands at ₹2,32,746.30 crores, categorising it firmly as a large-cap stock within the Non-Ferrous Metals industry.
This sizeable market cap underlines Vedanta’s significant presence in the metals sector and its influence on related indices and investor sentiment.
Expiry Patterns and Investor Positioning
The concentration of call option activity near the ₹600 strike price with expiry at the end of December suggests that investors are positioning for a potential breakout above this level. The open interest data supports this view, as a sizeable number of contracts remain outstanding, which could translate into increased volatility as expiry approaches.
Such positioning often reflects a combination of speculative bets and hedging strategies by market participants, anticipating either a continuation of the recent bullish trend or preparing for possible price swings around key technical levels.
Sectoral Dynamics and Comparative Performance
The Non-Ferrous Metals sector has recorded a 2.94% gain on the day, outperforming Vedanta Ltd’s 1.50% return. This divergence may indicate sector-wide strength driven by commodity price movements or macroeconomic factors, while Vedanta’s relative underperformance could be attributed to profit booking or stock-specific factors.
Nonetheless, Vedanta’s sustained gains over the past fortnight and its trading above all major moving averages highlight a positive medium-term outlook, supported by strong fundamentals and market interest.
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Outlook and Investor Considerations
Investors monitoring Vedanta Ltd should consider the implications of the active call option market and the stock’s technical positioning. The proximity of the current price to the ₹600 strike price, combined with elevated open interest, suggests that market participants are closely watching this level for potential breakout or reversal signals.
While the stock has demonstrated resilience and upward momentum over recent sessions, the decline in delivery volumes may warrant caution, signalling a possible shift towards more speculative trading or reduced conviction among long-term holders.
Given the stock’s liquidity and dividend yield, Vedanta remains an attractive option for a range of investors, but the evolving market dynamics call for careful analysis of price action and sector trends in the coming days.
Summary
Vedanta Ltd’s recent surge in call option activity, particularly at the ₹600 strike price expiring on 30 December 2025, reflects a bullish stance among traders anticipating further gains. The stock’s new 52-week high, consistent gains over 12 sessions, and trading above key moving averages underpin this sentiment. However, a dip in delivery volumes and slight underperformance relative to the sector on the day suggest a nuanced market environment.
Investors should weigh these factors alongside the company’s strong market capitalisation and attractive dividend yield when considering their positions in Vedanta Ltd.
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