Surge in HDFC Bank's Put Options: 7,727 Contracts at Rs 1940 Strike Highlight Activity

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 1941.5, just 3.39% shy of its 52-week high of Rs 1978.9.
Notably, two put options with expiry dates set for June 26, 2025, have seen significant trading activity. The put option with a strike price of Rs 1940 recorded 7,727 contracts traded, generating a turnover of approximately Rs 1,428.37 lakhs, while the Rs 1900 strike price option saw 7,828 contracts traded with a turnover of around Rs 812.86 lakhs. The open interest for these options stands at 2,409 and 3,145 contracts, respectively.

In terms of performance, HDFC Bank has underperformed its sector by 0.83% today, with a one-day return of -1.46%. The stock has experienced a trend reversal, falling after two consecutive days of gains. Despite this, it remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages.

Investor participation has seen a rise, with a delivery volume of 1.09 crore on May 30, marking an increase of 82.79% compared to the five-day average. The liquidity remains robust, accommodating trades up to Rs 45.26 crore based on 2% of the five-day average traded value.

In summary, HDFC Bank's options activity reflects a notable interest in its put options, amidst a backdrop of fluctuating stock performance and market conditions.