F&O traders expect 20% move in Vodafone Idea

Mumbai: Traders have sold large number of call and put options on Vi (Vodafone Idea) ahead of the company’s annual general meeting (AGM) Wednesday, to seek nod for fund-raising. Premiums paid by buyers indicate the option sellers are hedging themselves against sharp movement in the stock. Sellers have factored in 20 per cent move from 10 either side. The stock is expected to move in a range of Rs 7.95-Rs 12.05, options data show. The options counter attracts heavy interest as the contract lot size is a whopping 1.4 lakh shares. Apart from options, traders also punt on the stock through Grasim, which is a shareholder in Vi.