Coforge Ltd Sees Surge in Active Put Options with 11,581 Contracts at 6,700 Strike

Coforge Ltd, a prominent player in the IT software industry, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, COFORGE, is currently valued at Rs 6,675.00. Notably, the put options expiring on April 24, 2025, have seen significant trading activity, with the 6,800 strike price recording 11,028 contracts traded and a turnover of Rs 2,186.77 lakhs. Similarly, the 6,700 strike price had 11,581 contracts traded, generating a turnover of Rs 2,114.29 lakhs, while the 6,500 strike price saw 13,779 contracts traded with a turnover of Rs 1,683.76 lakhs.
Today, Coforge has underperformed its sector by 2.18%, continuing a downward trend with a five-day return of -24.6%. The stock opened with a gap down of 9.58%, reaching an intraday low of Rs 5,975. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite the challenges, there has been a notable increase in delivery volume, rising by 336.61% against the five-day average, suggesting heightened trading activity. Overall, Coforge's current market dynamics reflect a complex landscape as it navigates recent performance challenges.