Hindalco Industries Sees Surge in Active Put Options with 2,682 Contracts at Rs 680

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 stock, trading at an underlying value of Rs 697.85, has seen significant activity in its put options with two notable strike prices. The put option with a strike price of Rs 670 recorded 2,353 contracts traded, generating a turnover of Rs 213.79 lakhs, while the Rs 680 strike price saw 2,682 contracts traded, resulting in a turnover of Rs 331.17 lakhs.
As of today, Hindalco's stock performance has underperformed its sector by 0.5%, despite reaching an intraday high of Rs 684.8, reflecting a 2.66% increase. 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 over these periods. Open interest for the put options stands at 1,092 for the Rs 670 strike and 1,388 for the Rs 680 strike, suggesting ongoing interest in these contracts.

The liquidity of Hindalco's stock remains robust, with a delivery volume of 54.39 lakhs on August 12, marking a 201.18% increase compared to the 5-day average. Overall, Hindalco Industries continues to demonstrate significant activity in the options market, reflecting its position within the large-cap segment of the Non-Ferrous Metals industry.