ITC Ltd. Sees Surge in Active Put Options: 3,018 Contracts at 400 Strike Price

ITC Ltd., a prominent player in the FMCG sector, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock is currently valued at Rs 406.05, which is just 3.9% away from its 52-week low of Rs 390.15.
Two notable put options are drawing attention: the 405 strike price, with 2,315 contracts traded and a turnover of Rs 216.684 lakhs, and the 400 strike price, which saw 3,018 contracts traded and a turnover of Rs 190.7376 lakhs. The open interest for these options stands at 1,706 and 2,726, respectively, indicating a significant level of activity.

In terms of performance, ITC's stock has shown a one-day return of 1.28%, slightly outperforming the sector's return of 1.26% and the Sensex's return of 0.18%. The stock is currently trading above its 5-day moving average but below its longer-term moving averages, suggesting mixed momentum. Additionally, there has been a decline in investor participation, with delivery volume dropping by 14.77% compared to the 5-day average.

Overall, ITC Ltd. continues to be a focal point in the market, reflecting notable trading activity in its put options as investors navigate the current landscape.