Surge in Axis Bank Ltd. Put Options: 9,866 Contracts at Rs 1100 Strike Active Today

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 1162.6. Notably, the put options with expiry on May 29, 2025, have seen significant trading activity across various strike prices.
The put option with a strike price of Rs 1160 recorded 8,052 contracts traded, generating a turnover of approximately Rs 1,674.26 lakhs, while open interest stands at 1,041 contracts. Similarly, the Rs 1150 strike price saw 8,463 contracts traded, with a turnover of Rs 1,582.49 lakhs and open interest of 1,490. The Rs 1100 strike price had the highest activity, with 9,866 contracts traded and a turnover of Rs 820.86 lakhs, alongside an open interest of 1,812.

In terms of price performance, Axis Bank underperformed its sector by 2.95%, opening down 2.49% and reaching an intraday low of Rs 1146, reflecting a decline of 5.06%. The stock's weighted average price indicates that more volume was traded closer to this low price. Despite being above the 20-day, 50-day, 100-day, and 200-day moving averages, it remains below the 5-day moving average. Additionally, investor participation has decreased, with delivery volume falling by 39.49% compared to the 5-day average.

In summary, Axis Bank's put options are witnessing heightened activity, reflecting current market dynamics and investor behavior, while the stock itself is navigating a challenging trading environment.