Axis Bank's Put Options Surge: 5,783 Contracts at Rs 1100 Strike Fuel Activity

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 1135.2. Notably, two significant put options are drawing attention, with expiry set for April 24, 2025. The put option with a strike price of Rs 1120 saw 4,428 contracts traded, generating a turnover of Rs 352.26 lakhs, while the Rs 1100 strike price option recorded 5,783 contracts traded and a turnover of Rs 242.11 lakhs.
In terms of performance, Axis Bank has outperformed its sector by 1.64% today, marking a consecutive gain over the last three days with a total return of 6.81%. The stock reached an intraday high of Rs 1138, reflecting a 2.26% increase. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Additionally, the stock has shown rising investor participation, with a delivery volume of 70.11 lakhs on April 15, up by 47.67% compared to the 5-day average.

Overall, Axis Bank's activity in the options market, coupled with its solid performance metrics, underscores its current market position without delving into future implications.