TCS TATA CONSULTANCY SERV LT

TATA CONSULTANCY SERV LT — on this desk since 2 Jan 2006.

Prices before Fri 24 Nov 2023 are not comparable with today's. A corporate action in this security carries no published ratio, so nothing before that date can be put on the same share count — it is left out rather than shown unadjusted.

implied move
3.8%
12 days to the expiry read
futures
short cover
price rose and open interest fell
basis
0.36%
the future traded 0.36% above the share
option prices
50
dearer than 50 of the past 252 sessions

Option chain

as of Thu 15 Oct 15:30
CallsStrikePuts
What happenedPriceChange in OIOpen interestOpen interestChange in OIPriceWhat happened
short covering259.65−3,92,40011,32,4252,10012 strikes awaywall25,30,575+1,00,5753.35short build-up
long build-up222.40+9004,25,7002,1404,64,400−44,5504.60long unwinding
short covering200.75−21,6006,14,0252,1609,36,000−1,49,6255.50long unwinding
short covering181.95−35,3257,49,4752,18010,00,125−24,7506.50long unwinding
short covering163.85−42,52512,56,6252,20023,57,550+1,52,3257.90short build-up
short covering145.45−50,1755,74,8752,2207,90,875+80,5509.55short build-up
short covering127.55−43,6505,68,5752,24010,64,025+1,84,50011.90short build-up
short covering111.00−65,0254,08,6002,2606,40,125+1,45,35014.90short build-up
short covering94.60−75,6002,89,3502,2804,93,650+2,04,52518.55short build-up
short covering79.35−2,92,72510,33,8752,30013,39,650+3,35,02523.30short build-up
short covering65.35−1,76,6254,46,8502,3204,35,150+76,27529.10short build-up
short covering52.60−81,9005,72,6252,340at the money6,16,725+3,42,67536.50short build-up
long build-up41.90+2,34,4507,07,6252,3606,79,050+5,70,82545.45short build-up
long build-up32.25+1,61,3255,13,6752,3802,98,125+2,41,87555.75short build-up
long build-up24.50+4,88,92520,94,750wall2,4005,45,175+2,41,42567.95short build-up
long build-up18.35+2,83,2755,68,1252,4201,12,050+1,11,37581.35short build-up
long build-up13.90+51,5253,22,4252,44038,475+23,62597.50short build-up
long build-up10.50+63,4503,71,9252,46011,025+5,175113.20short build-up
long build-up8.10+65,0252,76,0752,48016,200+2,700129.95short build-up
long build-up6.25+3,6009,75,1502,50094,725−6,300150.70long unwinding
long build-up4.85+40,5001,69,4252,5206,0750170.47—
long build-up4.05+61,6502,26,8002,5402,700+675188.84short build-up

The options were priced for a move of about 3.8% by 27 Oct.

Open interest

as of Thu 15 Oct 15:30

Short cover: price rose and open interest fell.

For this stock, 76 of 178 times the close 5 sessions later was higher.

Across every F&O stock, 50,957 of 98,536 times the close 5 sessions later was higher.

Basis, rollover and the ban

as of Thu 15 Oct 15:30

The future traded 0.36% above the share.

Not in the F&O ban this session; open interest stood at 51% of its market-wide limit.

Implied volatility

as of Thu 15 Oct 15:30

The options were priced for a move of about 3.8% by 27 Oct; over the sessions the desk holds it ranged 1.4–7.6%.

Option prices were dearer than 50 of the past 252 sessions.

Puts were priced dearer than calls the same distance out.

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Implied and realised around results

as of Thu 15 Oct 15:30
  • 8 Oct 2026: options priced about 6.2%; the share moved 3.6% by 9 Oct.

The futures, session by session

as of Thu 15 Oct 15:30
sessionfuturesimplied movebasisban
Thu 15 Octshort cover3.8%0.36%
Wed 14 Octshort cover4.0%-0.05%
Tue 13 Octlong build4.2%-0.28%
Mon 12 Octshort build4.2%-0.14%
Fri 9 Octshort cover4.4%0.37%
Thu 8 Octlong unwind5.7%0.02%
Wed 7 Octshort build6.2%-0.17%
Tue 6 Octlong unwind6.3%-0.69%
Mon 5 Octshort cover6.4%-0.36%
Thu 1 Octlong build7.0%0.07%
Wed 30 Seplong build6.8%0.22%
Tue 29 Sepshort build7.1%0.89%
Mon 28 Sepshort build7.0%0.24%
Fri 25 Sepshort cover1.8%0.23%
Thu 24 Seplong unwind2.2%-0.34%
Wed 23 Sepshort build2.4%-0.27%
Tue 22 Seplong unwind2.9%0.15%
Mon 21 Sepshort cover3.2%0.16%
Fri 18 Sepshort build3.8%-0.32%
Thu 17 Seplong build3.8%0.07%

After a name entered or left the ban

as of Thu 15 Oct 15:30
  • Every F&O stock, on entering the ban: 755 of 1,496 times the close 5 sessions later was higher.
  • Every F&O stock, on leaving it: 747 of 1,496 times the close 5 sessions later was higher.

Before comparing across time

as of Thu 15 Oct 15:30

Open interest is in shares. Traded volume is in contracts before July 2024 and in shares after, so volumes are not compared across that change.

The lot size changed from 175 to 225 on 29 Apr 2026; contracts either side are compared in shares, not lots.