HDFC Bank Ltd. Sees Surge in Put Option Activity with 41,020 Contracts at 1960 Strike

HDFC Bank Ltd. has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The bank's underlying stock, HDFCBANK, is currently valued at Rs 1963.7, just 1.02% shy of its 52-week high of Rs 1996.3.
Two notable put options are drawing attention: the 1940 strike price, with 26,809 contracts traded and a turnover of Rs 281.63 lakhs, and the 1960 strike price, which saw 41,020 contracts traded and a turnover of Rs 1,105.60 lakhs. The open interest for these options stands at 5,017 and 2,976, respectively, indicating a significant level of activity and interest among traders.

In terms of performance, HDFC Bank has outperformed its sector by 0.42% today, marking a consecutive gain with a 1.43% increase over the last two days. The stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a strong upward trend. However, there has been a noted decline in investor participation, with delivery volume dropping by 19.87% compared to the 5-day average.

Overall, HDFC Bank's robust activity in the options market, coupled with its strong performance metrics, underscores its significant position within the private sector banking industry.