Coforge Ltd Sees Surge in Put Options with 7,407 Contracts at Rs 6,800 Strike

Coforge Ltd, a prominent player in the IT software industry, has emerged as one of the most active stocks in the market today, particularly in the options segment. The company’s put options, set to expire on April 24, 2025, have seen significant trading activity, with 7,407 contracts exchanged at a turnover of approximately Rs 1,347.45 lakhs. The strike price for these puts is set at Rs 6,800, while the underlying stock is currently valued at Rs 6,697.45.
Despite this activity, Coforge has underperformed its sector, experiencing a decline of 4.27% today. The stock has been on a downward trajectory for the past four days, accumulating a total return of -17.87% during this period. Today, it reached an intraday low of Rs 6,654.05, reflecting a decrease of 7.03%. The weighted average price indicates that more volume was traded closer to this low price.

Coforge is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, signaling a bearish trend. However, there has been a notable increase in investor participation, with delivery volume rising by 93.85% compared to the 5-day average. The stock remains liquid, with a trading capacity sufficient for a trade size of Rs 10.29 crore.

In summary, while Coforge Ltd has seen heightened activity in its put options, the stock's recent performance reflects broader challenges within the IT software sector.