HDFC Bank's Call Options Surge: 7,993 Contracts Trade at Rs 1940 Strike Price

HDFC Bank Ltd., a prominent player in the private sector banking industry, 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 1924.6, which places it just 3.08% away from its 52-week high of Rs 1978.9.
Today, a total of 7,993 call option contracts were traded, generating a turnover of approximately Rs 500.09 lakhs. The open interest stands at 6,391 contracts, indicating a robust interest in the stock's options. The call options have a strike price of Rs 1940, with an expiry date set for May 29, 2025.

In terms of performance, HDFC Bank's stock has experienced a slight decline of 1.02% today, which is in line with the sector's performance, as the sector itself saw a decrease of 0.98%. The stock has traded within a narrow range of Rs 15.8 and has shown a trend reversal after two consecutive days of gains. Notably, it remains above its 50-day, 100-day, and 200-day moving averages, although it is below the 5-day and 20-day moving averages.

Despite a recent drop in delivery volume, which fell by 33.04% against the 5-day average, the stock maintains sufficient liquidity for trading, with a trade size of Rs 32.05 crore based on 2% of the 5-day average traded value. Overall, HDFC Bank continues to be a focal point in the market, reflecting significant activity and interest among traders.