Surge in Canara Bank's Put Options: 5,712 Contracts at Rs 106 Strike Price

Canara Bank has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The underlying stock, CANBK, has seen significant trading activity with 5,712 contracts traded, resulting in a turnover of approximately Rs 588.62 lakhs. The put options have a strike price of Rs 106 and are set to expire on June 26, 2025, with an open interest of 1,798 contracts.
Despite this activity, Canara Bank's stock has underperformed, showing a decline of 2.40% today, which is part of a broader trend where the stock has fallen for the last seven consecutive days, totaling a drop of 10.06%. The stock reached an intraday low of Rs 105.6, reflecting a decrease of 2.42%.

In terms of moving averages, the stock is currently above the 50-day, 100-day, and 200-day averages but below the 5-day and 20-day averages, indicating mixed short-term performance. Additionally, investor participation has decreased significantly, with delivery volume dropping by 67.53% compared to the 5-day average.

With a market capitalization of Rs 95,804.22 crore, Canara Bank remains a notable player in the public sector banking industry, offering a high dividend yield of 3.7%. The liquidity of the stock is adequate for trading, with a size of Rs 5.58 crore based on 2% of the 5-day average traded value. Overall, the current activity in Canara Bank's put options reflects ongoing market dynamics amid a challenging performance backdrop.