Hindalco Industries Ltd Sees Surge in Active Put Options with 4,077 Contracts at Rs 670 Strike

Hindalco Industries Ltd, a prominent player in the Non-Ferrous Metals sector, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, HINDALCO, is currently valued at Rs 669.0. Notably, the put options with a strike price of Rs 670 saw the highest activity, with 4,077 contracts traded, resulting in a turnover of approximately Rs 908.68 lakhs and an open interest of 1,126 contracts.
Additionally, the put options with strike prices of Rs 660 and Rs 650 also demonstrated significant trading volumes, with 3,297 and 3,345 contracts traded, respectively. The turnover for these options was Rs 552.97 lakhs and Rs 415.85 lakhs, with open interests of 1,386 and 821 contracts.

In terms of stock performance, Hindalco underperformed its sector by 0.34%, opening with a loss of 2.21% and reaching an intraday low of Rs 657.5. The stock is currently above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day moving averages. Despite a one-day return of -1.12%, the stock remains liquid, with a delivery volume of 19.52 lakhs, reflecting a 7.54% increase against the 5-day average.

In summary, Hindalco Industries Ltd is witnessing notable activity in its put options, reflecting a dynamic trading environment amid fluctuating stock performance metrics.