IndusInd Bank's Put Options Surge: 2,844 Contracts at Rs 850 Strike Spark Activity

IndusInd Bank Ltd. 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, INDUSINDBK, is currently valued at Rs 852.05. Notably, several put options with an expiry date of July 31, 2025, have seen significant trading activity.
The put option with a strike price of Rs 850 led the activity with 2,844 contracts traded, generating a turnover of Rs 544.46 lakhs and an open interest of 1,482 contracts. Following closely, the Rs 860 strike price put option recorded 2,141 contracts traded and a turnover of Rs 474.93 lakhs, with an open interest of 794. Other notable strike prices include Rs 840 and Rs 800, with 1,494 and 1,990 contracts traded, respectively.

Despite this activity, IndusInd Bank's stock has underperformed its sector by 2.92% today, following a trend reversal after four consecutive days of gains. The stock reached an intraday low of Rs 850, reflecting a decline of 3.31%. The weighted average price indicates that more volume was traded closer to this low price. Additionally, the stock remains liquid enough for trades sized at Rs 11.28 crore, although delivery volume has decreased by 23.77% compared to the five-day average.

In summary, IndusInd Bank's put options are witnessing heightened activity amid a backdrop of recent price declines, highlighting the dynamics within the options market for this large-cap private sector bank.