SBI Cards Sees Surge in Active Put Options with 1,654 Contracts at Rs 900 Strike

SBI Cards & Payment Services Ltd has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The underlying stock, SBICARD, has seen significant activity with 1,654 contracts traded for puts with a strike price of Rs 900, reflecting a turnover of Rs 311.34 lakhs. The open interest stands at 1,290 contracts, indicating a notable level of engagement among traders.
Despite this activity, the stock has underperformed its sector by 1.81%, continuing a downward trend with a three-day loss of 8.13%. Today, SBICARD reached an intraday low of Rs 906.8, marking a decline of 2.68%. The stock's performance is currently above the 100-day and 200-day moving averages but below the shorter-term 5-day, 20-day, and 50-day moving averages, suggesting mixed signals in its price trajectory.

Investor participation has also waned, with a delivery volume of 116,700 shares on July 1, down 33.51% from the five-day average. Nevertheless, the stock remains liquid, with a trade size of Rs 6.79 crore based on 2% of the five-day average traded value.

In summary, while SBI Cards & Payment Services Ltd shows heightened activity in the options market, its recent performance reflects ongoing challenges within the stock, warranting close observation.