HDFC Bank Sees Surge in Active Put Options with 11,963 Contracts at Rs 2000 Strike

HDFC Bank Ltd., a prominent player in the private sector banking industry, has seen significant activity in its put options today. The underlying stock, HDFCBANK, is currently valued at Rs 2017.7, just 1.33% shy of its 52-week high of Rs 2027.1.
Among the most active puts, the option with a strike price of Rs 2000, expiring on July 31, 2025, led the trading with 11,963 contracts exchanged, resulting in a turnover of approximately Rs 2933.87 lakhs and an open interest of 3,207 contracts. Another notable put option with a strike price of Rs 1980, also expiring on July 31, 2025, saw 8,085 contracts traded, generating a turnover of Rs 1595.05 lakhs and an open interest of 2,269.

Despite this activity, HDFC Bank's stock underperformed the sector by 0.65% today, with a one-day return of -1.05%. The stock has recently experienced a trend reversal after three consecutive days of gains and has traded within a narrow range of Rs 19.6. However, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive long-term trend.

In summary, HDFC Bank's put options are drawing considerable attention, reflecting a dynamic trading environment amidst fluctuating stock performance.