Laurus Labs Sees 2,972 Put Contracts at Rs 900 Amid 3.43% Price Drop

Laurus Labs Ltd, a mid-cap player in the Pharmaceuticals & Biotechnology sector, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, LAURUSLABS, is currently valued at Rs 911.2, just 3.72% shy of its 52-week high of Rs 944.
Today, a total of 2,972 put contracts were traded with a turnover of Rs 514.84 lakhs, indicating significant activity in this option type. The strike price for these puts is set at Rs 900, with an open interest of 1,224 contracts, suggesting a notable level of engagement among traders.

In terms of price performance, Laurus Labs has underperformed its sector by 2.33%, following a trend reversal after four consecutive days of gains. The stock reached an intraday low of Rs 902.35, reflecting a decline of 3.43%. Despite this, Laurus Labs is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive long-term trend.

Investor participation has seen a rise, with a delivery volume of 13.07 lakhs on October 23, up 76.22% compared to the 5-day average. The stock remains liquid, with a trade size of Rs 3.96 crore based on 2% of the 5-day average traded value.

In summary, Laurus Labs Ltd is experiencing heightened activity in its put options, reflecting a complex interplay of market dynamics and investor behavior.