Surge in Put Options: Divis Laboratories Sees 4,348 Contracts at Rs 6700 Strike

Divis Laboratories Ltd, a prominent player in the Pharmaceuticals & Biotechnology sector, has emerged as one of the most active stocks today, particularly in the options market. The company’s underlying stock, DIVISLAB, is currently valued at Rs 6731. Notably, two put options with expiry dates set for May 29, 2025, have garnered significant attention.
The put option with a strike price of Rs 6700 saw 4,348 contracts traded, resulting in a turnover of Rs 401.59 lakhs, while the option with a strike price of Rs 6600 recorded 4,954 contracts traded and a turnover of Rs 230.20 lakhs. Open interest for these options stands at 630 and 1,180 contracts, respectively, indicating a robust interest in these positions.

Today, Divis Laboratories reached a new 52-week high of Rs 6748, outperforming its sector by 3.26%. The stock opened with a gain of 2.42% and touched an intraday high of Rs 6748, reflecting a 4.09% increase. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend reversal after two consecutive days of decline. However, investor participation has decreased, with delivery volume dropping by 71.9% compared to the 5-day average.

In summary, Divis Laboratories is experiencing heightened activity in its put options, alongside a notable performance in the stock market, characterized by significant trading volumes and a strong price movement today.