Surge in Hindustan Aeronautics Ltd Put Options: 6,503 Contracts at Rs 4,200 Strike

Hindustan Aeronautics Ltd (HAL), a prominent player in the defence sector, has emerged as one of the most active stocks today, particularly in the options market. The company’s put options, set to expire on April 24, 2025, have seen significant activity, with 6,503 contracts traded at a strike price of Rs 4,200. This has resulted in a turnover of approximately Rs 1,623.27 lakhs, while the open interest stands at 2,237 contracts, indicating a robust interest in these options.
Despite the heightened activity in the options market, HAL's stock has underperformed its sector by 1.1%, reflecting a one-day return of -0.30%. The stock has recently experienced a trend reversal, falling after five consecutive days of gains. Currently, HAL's underlying value is Rs 4,233.65, which is higher than its 5-day, 20-day, 50-day, and 100-day moving averages, but lower than its 200-day moving average.

Investor participation appears to be declining, with delivery volume dropping by 51.35% compared to the 5-day average. However, the stock remains liquid enough for trades sized at Rs 36.5 crore, based on 2% of the 5-day average traded value. Overall, while HAL's stock faces some challenges, the activity in its put options highlights ongoing interest in the company within the market.