Surge in Put Option Activity: Cummins India Ltd. Sees 6,956 Contracts at Rs 3000 Strike
Cummins India Ltd. has become a notable presence in the options market, particularly in put options, with significant trading volumes and turnover. The stock has shown strong performance recently, achieving a substantial increase in delivery volume, indicating heightened investor interest and market activity.
Cummins India Ltd., a prominent player in the Compressors, Pumps & Diesel Engines industry, has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The company’s underlying stock, CUMMINSIND, is currently valued at Rs 3173.8. Notably, the put options with a strike price of Rs 3100 saw 6,088 contracts traded, generating a turnover of approximately Rs 788.68 lakhs, while open interest stood at 735 contracts. Additionally, the Rs 3000 strike price put option recorded 6,956 contracts traded, with a turnover of Rs 615.66 lakhs and an open interest of 859 contracts. Another put option at the same strike price, expiring on May 29, 2025, had 7,096 contracts traded, contributing a turnover of Rs 30.65 lakhs and an open interest of 705 contracts.
In terms of stock performance, Cummins India has been gaining traction, with a 9.54% increase over the last five days. The stock reached an intraday high of Rs 3237.5, reflecting a 2.15% rise today. The stock's liquidity remains robust, with a delivery volume of 13.68 lakhs on May 29, marking a significant increase of 395.09% compared to the five-day average. Overall, Cummins India Ltd. continues to demonstrate strong market activity and investor engagement.
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