Surge in Active Put Options for Axis Bank Ltd. as 4,653 Contracts Trade at Rs 1160 Strike

Axis Bank Ltd. has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The bank's underlying stock, AXISBANK, is currently valued at Rs 1115.0. Notably, several put options with an expiry date of July 31, 2025, have seen significant trading activity.
The put option with a strike price of Rs 1160 recorded the highest trading volume, with 4,653 contracts traded and a turnover of Rs 1,566.90 lakhs. Following closely, the strike price of Rs 1050 saw 4,402 contracts traded, generating a turnover of Rs 100.15 lakhs. Other notable strike prices include Rs 1150, with 3,066 contracts and a turnover of Rs 863.85 lakhs, and Rs 1070, which had 3,385 contracts traded and a turnover of Rs 121.65 lakhs.

Despite this activity, Axis Bank's stock has underperformed, falling 5.2% over the last two days and opening down 6.02% today. The stock touched an intraday low of Rs 1086, and it is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a rise in investor participation, with a delivery volume of 34.62 lakhs on July 17, up 15.07% from the 5-day average.

In summary, while Axis Bank's put options are actively traded, the stock itself is experiencing a downward trend, reflecting broader market challenges.