SBI Cards Sees Surge in Put Option Activity with 2,393 Contracts at Rs 900 Strike

SBI Cards & Payment Services Ltd has emerged as one of the most active stocks in the market today, particularly in the options segment, with a focus on put options. The underlying stock, SBICARD, has seen significant activity with 2,393 contracts traded for puts with a strike price of Rs 900, reflecting a turnover of approximately Rs 415.62 lakhs. The open interest stands at 1,044 contracts, indicating a notable level of engagement among traders.
Despite opening with a gain of 10% and reaching an intraday high of Rs 1,004.75, the stock has underperformed its sector by 0.86%, with a one-day return of -1.88%. Over the past two days, the stock has experienced a decline of 3.7%. The trading session has been characterized by high volatility, with an intraday volatility of 9.07%.

SBI Cards is currently trading below its 5-day, 20-day, and 50-day moving averages, although it remains above the 100-day and 200-day averages. The liquidity appears adequate for trades around Rs 1.42 crore, despite a significant drop in delivery volume, which has decreased by 43.16% compared to the 5-day average.

In summary, while SBI Cards has shown notable activity in the options market, the stock's recent performance reflects a mix of volatility and declining investor participation.