Put Option Activity Highlights
Data from the derivatives market reveals that Bharti Airtel’s put options with a strike price of ₹2,100 have recorded 6,565 contracts traded, generating a turnover of approximately ₹328.36 lakhs. The open interest stands at 2,535 contracts, indicating sustained interest in downside protection or speculative bearish bets. This level of activity is particularly noteworthy given the underlying stock price of ₹2,138.7, which is just 1.68% shy of its 52-week high of ₹2,174.5.
The expiry date of 30 December 2025 is a focal point for traders, as the concentration of put options at this strike price suggests a strategic positioning to either hedge existing long holdings or to capitalise on potential price corrections in the near term. The strike price of ₹2,100 is slightly below the current market price, which may indicate a protective stance against moderate declines.
Stock Price Performance and Market Context
Bharti Airtel’s stock has demonstrated resilience in recent sessions, with a two-day consecutive gain amounting to a 2.23% return. On 22 December 2025, the stock touched an intraday high of ₹2,140, representing a 2.02% increase on the day. This performance outpaced the broader telecom sector, which recorded a 1.59% return, and the Sensex benchmark, which rose by 0.61% on the same day.
Technical indicators support the stock’s upward momentum, as Bharti Airtel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Such positioning often reflects sustained investor confidence and a bullish trend over multiple time horizons. Additionally, delivery volumes have surged, with 70.39 lakh shares delivered on 19 December 2025, marking a 145.43% increase compared to the five-day average delivery volume. This heightened investor participation underscores the stock’s liquidity and attractiveness for sizeable trades, with an estimated tradable value of ₹25.45 crore based on 2% of the five-day average traded value.
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Investor Sentiment and Hedging Implications
The concentration of put option activity at the ₹2,100 strike price suggests a nuanced market sentiment. While the stock’s recent gains and technical strength point to positive momentum, the active put buying indicates that investors are seeking downside protection amid potential volatility or uncertainty in the near term. This hedging behaviour is common ahead of key expiry dates, as market participants aim to mitigate risk from sudden price swings.
Given Bharti Airtel’s large-cap status with a market capitalisation of approximately ₹12,09,188 crore, the stock remains a key bellwether in the telecom services sector. Its performance often influences sectoral trends and investor confidence. The current put option interest may also reflect broader market caution as investors weigh macroeconomic factors and sector-specific developments.
Expiry Patterns and Strike Price Significance
Options expiry dates often serve as critical junctures for price discovery and volatility. The 30 December 2025 expiry is the last for the calendar year, which can lead to increased trading volumes and positioning adjustments. The ₹2,100 strike price is strategically placed just below the current market price, making it a popular choice for protective puts that limit losses without incurring excessive premium costs.
Open interest data further supports this interpretation, as the 2,535 contracts outstanding at this strike price represent a sizeable pool of investors with vested interests in the stock’s near-term price movements. This level of open interest can also contribute to price support or resistance around the strike price as expiry approaches.
Comparative Sector and Market Performance
Bharti Airtel’s outperformance relative to the telecom sector and the broader Sensex index on 22 December 2025 highlights its relative strength. The sector’s 1.59% gain and Sensex’s 0.61% rise contrast with Bharti Airtel’s 2.09% one-day return, underscoring the stock’s appeal among investors. This relative strength may be a factor in the observed option activity, as traders balance optimism with prudent risk management.
Liquidity considerations also play a role in option market dynamics. The stock’s ability to support trades worth over ₹25 crore based on recent averages ensures that institutional and retail investors can execute sizeable positions without significant market impact. This liquidity is essential for the active options market and contributes to the stock’s attractiveness for hedging and speculative strategies.
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Outlook and Investor Considerations
As the 30 December expiry approaches, market participants will closely monitor Bharti Airtel’s price action and option market developments. The active put option interest at the ₹2,100 strike price suggests that investors are preparing for potential downside scenarios, even as the stock maintains a position near its yearly peak. This duality reflects a balanced approach to risk and reward in a sector that remains competitive and sensitive to regulatory and technological changes.
Investors should consider the implications of rising delivery volumes and the stock’s technical positioning alongside the options market data. While the stock’s recent gains and sector outperformance are encouraging, the put option activity signals a degree of caution that may be prudent to factor into portfolio decisions.
Overall, Bharti Airtel’s options market activity provides valuable insight into investor sentiment and hedging strategies as the year-end expiry looms. The interplay between bullish price trends and protective put buying highlights the complex dynamics at play in one of India’s leading telecom services companies.
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