HDFC Bank Ltd. Sees Surge in Call Options with 30,943 Contracts at Rs 1840 Strike

HDFC Bank Ltd. has emerged as one of the most active stocks today, particularly in the options market. The bank's underlying stock, HDFCBANK, is currently valued at Rs 1816.8. Notably, several call options with an expiry date of April 24, 2025, have seen significant trading activity.
The call option with a strike price of Rs 1840 led the activity, with 30,943 contracts traded and a turnover of Rs 4685.39 lakhs. Following closely, the Rs 1860 strike price option recorded 28,433 contracts and a turnover of Rs 3007.64 lakhs. Other notable strike prices include Rs 1880 with 24,326 contracts traded and Rs 1900 with 24,072 contracts.

Despite the heightened activity in options, HDFC Bank's stock opened down by 3%, reaching an intraday low of Rs 1751.4. The stock has outperformed its sector by 0.73%, although the broader Bank - Private sector has declined by 3.1%. HDFC Bank's performance metrics indicate it remains above its 20, 50, 100, and 200-day moving averages, but below its 5-day moving average.

In summary, HDFC Bank's options market activity reflects a robust engagement, even as the stock faces short-term challenges. The liquidity remains strong, with a delivery volume increase of 36.3% against the 5-day average, indicating ongoing investor interest.