HDFC Bank's Put Options Surge: Over 35,000 Contracts Traded at Key Strike Prices

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 put options. The bank's underlying stock, HDFCBANK, is currently valued at Rs. 2024.5. Notably, two put options with expiry dates set for July 31, 2025, have garnered significant attention.
The put option with a strike price of Rs. 2020 saw 16,705 contracts traded, resulting in a turnover of approximately Rs. 1,591.32 lakhs, while the option with a strike price of Rs. 2000 recorded 18,735 contracts traded and a turnover of around Rs. 1,179.84 lakhs. Open interest for these options stands at 3,015 and 6,088 contracts, respectively.

Today, HDFC Bank reached a new 52-week and all-time high of Rs. 2037.7 but has experienced a slight decline of 0.20% in its one-day return, contrasting with a sector return of -0.41%. The stock has traded within a narrow range of Rs. 16.6 and remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, investor participation has decreased, with delivery volume dropping by 21.03% compared to the 5-day average.

In summary, HDFC Bank's put options activity reflects a notable engagement in the market, with significant trading volumes and open interest, amidst a backdrop of fluctuating stock performance.