Surge in HDFC Bank Ltd. Put Options: 29,503 Contracts Signal Robust Market Interest

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 1981.0, just 0.42% shy of its 52-week high of Rs 1996.3.
Today, a significant number of put contracts were traded, with 29,503 contracts exchanged, resulting in a turnover of Rs 264.52 lakhs. The open interest for these puts stands at 4,546, indicating a robust interest in this option type, which expires on June 26, 2025, at a strike price of Rs 1960.

In terms of performance, HDFC Bank has shown consistent gains, rising 2.03% over the last three days, with a one-day return of 0.53%. The stock is 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 slight decline in investor participation, with delivery volume decreasing by 4.1% compared to the 5-day average.

Overall, HDFC Bank's current activity in the options market, combined with its solid performance metrics, underscores its significant position within the banking sector.