BHEL Sees Surge in Active Put Options with 3,410 Contracts at Rs 230 Strike

Bharat Heavy Electricals Ltd. (BHEL), a prominent player in the Heavy Electrical Equipment industry, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s stock is currently trading at an underlying value of Rs 230.06, reflecting a notable decline of 4.18% in one-day returns, underperforming its sector, which saw a decrease of 2.67%.
Today, two significant put options were actively traded, with the 28-Aug-2025 expiry date. The put option with a strike price of Rs 235 recorded 2,132 contracts traded, generating a turnover of Rs 504.24 lakhs, while the Rs 230 strike price saw 3,410 contracts traded, resulting in a turnover of Rs 599.73 lakhs. Open interest for these options stands at 791 and 1,030 contracts, respectively.

BHEL has been experiencing a consecutive decline, losing 7.6% over the last two days, and opened today with a gap down of 3.33%. The stock reached an intraday low of Rs 228.12, indicating a challenging trading environment. Additionally, BHEL is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Despite these challenges, there has been a notable increase in delivery volume, rising by 326.4% against the 5-day average, indicating heightened investor activity.

In summary, BHEL's current market dynamics reflect significant trading activity in put options amid a broader trend of declining stock performance, highlighting the complexities of the current market landscape.