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Informist, Thursday, Jan. 8, 2026

 

By Gopika Balasubramanium

 

MUMBAI – Traders aggressively wrote call contracts in the derivatives chain of Vodafone Idea Friday. Call contracts at higher strike prices were sold throughout the session while put options at similar levels were bought, indicating limited upside for the stock in the near term. During the day's session, Vodafone Idea shares rose sharply after the company told the exchanges about the telecommunications department directing it to pay its pending adjusted gross revenue dues. However, investors took profits towards noon and the stock closed 2.1% down at INR 11.26.

 

"The options chain data for Vodafone Idea indicates a cautious undertone in the near term," said Ashish Sherigar, technical and derivatives analyst at NVS Brokerage. The put-call ratio stands at 0.56, which reflects a bearish-neutral bias, as call writing dominates the options charts, he said. Overall, the options chain suggests Vodafone Idea may remain range-bound, with resistance near INR 12–INR 13 and support at INR 11–INR 10, Sherigar added.

The stock rose around 9% to an intraday high of INR 12.52 after Vodafone Idea, ahead of the market opening, told the exchanges about the communication from the Department of Telecommunications. The department has asked the company to pay a maximum of INR 1.24 billion annually over six years starting March and ending March 2031.

 

Traders added bearish bets in the options chain of Vodafone Idea, with aggressive call writing at out-of-the-money contracts at INR 12-INR 13. Traders likely added short postions at these strike prices, with premiums declining 20-21%. Traders were most active at the in-the-money INR 12 put, indicating that the stock is not expected to rise beyond that level. On the put side, options contract at INR 10-INR 11 strikes saw the addition of 12-19 million contracts, indicating that these could be the support levels for the stock. Premiums at out-of-the-money put options at INR 10-INR 11 rose about 12-14%.

 

The maximum concentration of open interest on both the call and put sides was seen at INR 12. Traders added the highest number of call and put contracts at the same strike price.

 

--Nifty 50 January closed at 25810.80, down 174.80 points; 127.50-point premium to the spot index

--Nifty 50 February closed at 25960.00, down 168.10 points; 276.70-point premium to the spot index

--Nifty 50 March closed at 26145.00, down 182.40 points; 461.70-point premium to the spot index

 

Indian Energy Exchange, Vodafone Idea, ICICI Bank, HDFC Bank, Bharat Heavy Electronics, Manappuram Finance, Indus Towers, Reliance Industries, Eternal, State Bank of India, Larsen & Toubro, Bharat Electronics, Bharti Airtel, Hitachi Energy India, Axis Bank, National Aluminium Co., Infosys, Tata Consultancy Services, Multi Commodity Exchange of India, and BSE were the most actively traded underlying stocks Friday.  End

 

Edited by Rajeev Pai

 

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