Hero MotoCorp Ltd. Sees Surge in Put Options: 19,306 Contracts at Rs 5000 Strike

Hero MotoCorp Ltd., a prominent player in the automobiles sector, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, HEROMOTOCO, is currently valued at Rs 5003.1. Notably, the put options with an expiry date of August 28, 2025, have seen significant trading activity across various strike prices.
The put option with a strike price of Rs 5000 led the activity with 19,306 contracts traded, generating a turnover of approximately Rs 2069.70 lakhs and an open interest of 1,485 contracts. Following closely, the Rs 4900 strike price option recorded 10,698 contracts traded and a turnover of Rs 577.69 lakhs, with an open interest of 1,422. Other notable strike prices include Rs 5100 and Rs 4800, with 7,837 and 9,164 contracts traded, respectively.

In terms of performance, Hero MotoCorp has outperformed its sector by 1.54%, opening with a gain of 4.08% today and reaching an intraday high of Rs 5119, reflecting an increase of 8.73%. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 61.16% compared to the 5-day average.

In summary, Hero MotoCorp's active put options trading highlights the stock's current market dynamics, characterized by significant turnover and open interest, amidst a backdrop of strong performance metrics.