Surge in ICICI Bank's Put Options: 7,115 Contracts Trade at Rs 1420 Strike Price

ICICI Bank Ltd., a prominent player in the private banking sector, has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The bank's underlying stock, trading at Rs 1426.8, is currently just 1.39% shy of its 52-week high of Rs 1446.8.
Today, a total of 7,115 put contracts were traded with a turnover of Rs 1,171.03 lakhs, indicating significant activity. The put options have a strike price of Rs 1420 and an open interest of 3,177 contracts, reflecting ongoing interest among traders.

Despite outperforming its sector by 0.28%, ICICI Bank has faced a slight decline, with a one-day return of -0.20%. The stock has been on a downward trend for the past two days, experiencing a cumulative drop of -0.38%. It has traded within a narrow range of Rs 9.6 today, while maintaining a position above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

Investor participation has seen a decline, with delivery volume dropping by 62.38% compared to the 5-day average. However, the stock remains liquid enough for trades, with a size of Rs 7.27 crore based on 2% of the 5-day average traded value.

In summary, ICICI Bank's put options activity highlights a notable engagement in the market, reflecting the dynamics of investor behavior amidst recent performance trends.