HDFC Bank Sees Surge with 7,898 Active Call Contracts at Rs 2000 Strike

HDFC Bank Ltd., a prominent player in the private sector banking industry, has emerged as one of the most active stocks today, reflecting significant trading activity in its options market. The bank's underlying stock, HDFCBANK, is currently valued at Rs 1939.9, just 1.98% shy of its 52-week high of Rs 1978.9.
Today, a total of 7,898 call contracts were traded with a turnover of Rs 531.20 lakhs, indicating robust investor engagement. The open interest stands at 9,997 contracts, suggesting a strong interest in the stock's future performance. The options have an expiry date set for June 26, 2025, with a strike price of Rs 2000.

In terms of performance, HDFC Bank has outperformed its sector by 0.63% today, marking a positive trend reversal after two consecutive days of decline. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. Additionally, the delivery volume of 90.36 lakhs on June 3 has increased by 17.27% compared to the 5-day average, highlighting rising investor participation.

Overall, HDFC Bank's current trading activity and performance metrics underscore its solid position in the market, reflecting a dynamic trading environment.