Eternal Ltd Sees Surge in Put Options Activity: 8,368 Contracts at Rs 250 Strike

Eternal Ltd, a prominent player in the E-Retail and E-Commerce sector, has emerged as one of the most active stocks in terms of put options today. The company’s underlying stock, ETERNAL, is currently valued at Rs 256.54. Notably, two significant put options are drawing attention: one with a strike price of Rs 260, which saw 7,726 contracts traded and a turnover of Rs 1,245.17 lakhs, and another with a strike price of Rs 250, where 8,368 contracts were traded, resulting in a turnover of Rs 710.37 lakhs.
The open interest for these options stands at 1,580 and 2,848 respectively, indicating a robust interest among traders. Despite this activity, Eternal Ltd has underperformed its sector by 1.6% today, with a one-day return of -0.69%. The stock has been on a downward trend, losing 2.49% over the past two days. However, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting some resilience in its longer-term performance metrics.

Investor participation appears to be declining, with delivery volume dropping by 65.29% compared to the 5-day average. Nevertheless, the stock maintains sufficient liquidity for trades, with a market cap of Rs 2,46,141.84 crore. As the market continues to evolve, the activity surrounding Eternal Ltd's put options reflects ongoing dynamics within the E-Retail sector.