Moves in these stock options on expiry day defies gravity

There are certain stock options call options, which have defied gravity and rallied like never before!   

Nifty is trending on the final day of June series F&O expiry day and at the time of writing this i.e. around quarter past 3 this afternoon, the index was trading above the 15,800 mark.  

Trending day on the eve of expiry is a dream of an option buyer and since the index has trended with a positive bias, there are certain stock options call options, which have defied gravity and rallied like never before!   

One of the prominent sectors, which are supporting the rally of the market is the IT sector. Nifty IT index is up by over 2.5 per cent. Many of the stock options of IT stocks have soared like an eagle.   

The gain in Infosys June series 1,540 strike call option is significant while Infosys 1,540 Call option has surged more than 13,000 per cent. Yes! A staggering 13,000 per cent, the 1,540 Call option on Wednesday closed at Rs 0.15 and today, it opened at Rs 0.15, marking a low of Rs 0.10. Thereafter, it went from strength to strength to touch a high of Rs 28. Infosys 1,560 and 1,520 Call options also witnessed blockbuster moves as they soared 3,100 and 1,812 per cent, respectively.   

TCS 3,350 and 3,300 Call options also jumped 1,596 and 1,458 per cent, respectively. HCL Technologies 980 Call option also gained 721 per cent.   

Such a rapid move in the option prices is a nightmare for the options seller. Hence, it's always prudent to follow a stop-loss while trading on the expiry day.