Polycab India Ltd Sees Surge in Active Put Options with 12,249 Contracts Traded

Polycab India Ltd, a prominent player in the cable industry, has emerged as one of the most active stocks in the options market today, particularly with its put options. The company’s underlying stock, POLYCAB, is currently valued at Rs 5,910. Notably, the put options with a strike price of Rs 5,800 saw significant activity, with 12,249 contracts traded, resulting in a turnover of approximately Rs 2,736.73 lakhs. Additionally, the put option with a strike price of Rs 5,500 recorded 10,173 contracts traded and a turnover of Rs 1,048.71 lakhs.
Despite a slight decline of 0.32% in its one-day return, Polycab India has outperformed its sector by 0.87%. The stock has experienced a trend reversal, falling after two consecutive days of gains. It remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average. Investor participation has risen, with a delivery volume of 5.79 lakhs on May 6, marking a 316.7% increase compared to the 5-day average. The stock's liquidity is deemed sufficient for trades up to Rs 1.05 crore, reflecting a robust market position.

In summary, Polycab India Ltd's active put options trading highlights the stock's current dynamics within the market, showcasing notable trading volumes and liquidity amidst a slight decline in its share price.