Surge in HDFC Bank's Put Options with 5,072 Contracts at Rs 1900 Strike

HDFC Bank Ltd., a prominent player in the private sector banking industry, 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 1909.7, just 3.86% shy of its 52-week high of Rs 1978.9.
On May 21, 2025, a total of 5,072 put contracts were traded at a strike price of Rs 1900, generating a turnover of approximately Rs 406.15 lakhs. The open interest for these contracts stands at 3,246, indicating a significant level of activity and interest among traders.

Despite this activity, HDFC Bank's stock has underperformed its sector by 0.4% today, with a one-day return of -0.87%. The stock has traded within a narrow range of Rs 17.3, and while it remains above the 50-day, 100-day, and 200-day moving averages, it is currently below the 5-day and 20-day moving averages. Additionally, the delivery volume has seen a decline of 29.66% compared to the five-day average, reflecting falling investor participation.

Overall, HDFC Bank's current market dynamics highlight a blend of active trading in put options alongside a cautious performance in the broader market context.