Financial Daily from THE HINDU group of publications
Sunday, Jan 06, 2002
Financial Daily from THE HINDU group of publications Sunday, Jan 06, 2002 |
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Investment World
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Derivatives Markets Markets bullish on index, stock Anup Menon
The second most actively traded Nifty call option was the one with expiration set to January and a strike of 1100. The index close on the last day of the week indicates that the option is marginally out of the money. Aggregate traded volumes stood at around 540 contracts. The pricing of the contract displayed a high level of volatility with the premium range lying between Rs 30 and Rs 14 respectively.
The third most active index call option was the contract with expiration set to January and a strike of 1060. Based on the latest close of the index, the option is in the money. Aggregate traded volumes stood at around 424 contracts. The put call ratio on the contracts seems to indicate that investors are bullish on the index.
Interest in index put options remained low during the course of the week. As was the case last week only one contract managed to find a place among the top 10 traded puts. The most actively traded put was the January maturity contract with a strike price of 1020. The option was deeply out of the money based on the latest close of the index in the spit market. Aggregate traded volumes stood at around 231 contracts. The contract with maturity set to January and a strike fixed at 1040 was also actively traded. The option is out of the money at present. Aggregate traded volumes stood at around 204 contracts.
Stock Options - Calls
Among the stock options that were actively traded are contracts on Satyam Computers, Reliance Petroleum, Reliance Industries, Digital Equipment and ACC. The January maturity contract on Satyam Computers with a strike of 240 was the most actively traded call option on individual stocks. Based on the latest close of the stock in the spot market, the option is in the money at present. Aggregate traded volumes stood at around 2843 contracts. The premiums were fairly volatile with a weekly high of Rs 44 as against a low of Rs 14.
The second most active contract was also on Satyam Computers with a strike price fixed at 260 and expiration set to January. Based on the stocks close in the spot market the option is in the money. Aggregate traded volumes in the contract stood at around 1936 contracts. The premiums were relatively stable. It fluctuated between a weekly high of Rs 29 to a low of Rs 8.
The option on Reliance Petroleum with a strike of 30 and expiration set of January was also actively traded. Based on the latest close of the stock in the cash market, the option is at the money. Around 1839 contracts were traded during the week. The premiums were fairly stable with a weekly high of Rs 2 as compared to a weekly low of Rs 1.
Stocks Options - Puts
Among the actively traded put options on individual stocks were Satyam Computers, Reliance Petroleum, Reliance Industries, Digital Equipment and ACC among others.
The most actively traded put contract was on Satyam Computers with a strike of 240 and expiration set to January. The option is out of the money at present. Aggregate traded volumes stood at around 964 contracts. The put call ratio indicates that the market is bullish on the stock. Put premiums were relatively less volatile with a weekly high low range of Rs 21.
The option on Reliance Petroleum with a strike of 30 and expiration set to January was also actively traded. Based on the latest close in the spot market, the option is at the money. Aggregate traded volumes stood at around 456 contracts.
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