HCL Technologies Ltd Sees Surge in Put Option Activity with 10,634 Contracts Traded

HCL Technologies 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 stock, trading under the ticker HCLTECH, saw significant activity with 10,634 contracts traded, reflecting a turnover of approximately Rs 376.66 lakhs. The put options have a strike price of Rs 1560 and are set to expire on April 24, 2025, with an open interest of 1,346 contracts.
In terms of price performance, HCL Technologies outperformed its sector by 4.05%, opening with a gain of 5.07% and reaching an intraday high of Rs 1600, marking an increase of 8.12%. The stock's current value stands at Rs 1595.1, which is higher than its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.

Despite the positive price movements, there has been a notable decline in investor participation, with delivery volume dropping by 37.27% compared to the 5-day average. The stock maintains a high dividend yield of 4.05% and demonstrates sufficient liquidity for trades sized at Rs 7.45 crores, based on 2% of the 5-day average traded value.

In summary, HCL Technologies Ltd is experiencing heightened activity in its put options, reflecting a complex interplay of market dynamics and investor behavior.