Nifty Options Shed Gains

The Nifty June Futures ended at 1088.50 on Monday traded at a small discount to the spot. The NSE S&P CNX Nifty settled at 1088.90. But July futures finished at a marginal premium to the spot price. Volumes were lower in the June contract and nudged up in July paper. Open interest dipped in both the June and July contracts. Nifty futures saw a trading volume of Rs 64.42 crore (Rs 86 crore) arising out of 2,954 (3,965) contracts. Nifty options saw 261 (405) contracts being traded at a notional value of Rs 5.70 crore (Rs 8.82 crore).

The Nifty options opened with gains but shed some of it. There was buying in 'in-the-money' calls options, the 'out-of-the money' calls options witnessed selling. Calls with strikes of 1,060 and 1,080 attracted the highest volumes. The top 20 contracts contributed to around 42 per cent of the total traded volume in options on individual securities. Satyam Computer was the most active option contract on individual securities traded, with 1,661 contracts. Mahindra & Mahindra (M&M) was the next most active option contract, with 542 contracts being traded. MTNL call option at 140 was also active. The stock gained nearly seven per cent.

In the futures segment, out of 30 securities, futures on 15 (19) underlying securities were traded. The total number of contracts traded was 1,71,200 (2,33,200) valued at Rs 3.95 crore (Rs 5.84 crore). Infosys quoted at a significant premium to the spot price. However, Satyam quoted at a discount to the spot price and could witness some selling in the near-term. BPCL, HPCL, SBI and MTNL all were traded at a premium to their spot prices.