Sun Pharmaceutical Industries Sees Surge in Active Put Options with 3,547 Contracts at Rs 1560 Strike

Sun Pharmaceutical Industries Ltd has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The underlying stock, SUNPHARMA, is currently valued at Rs 1559.5, just 0.52% away from its 52-week low of Rs 1553.05. The company has seen significant activity in its put options, with 3,547 contracts traded at a strike price of Rs 1560, resulting in a turnover of Rs 325.38 lakhs. Open interest stands at 1,109 contracts, indicating ongoing interest in this option.
In terms of performance, Sun Pharma has underperformed its sector by 1.84%, with a one-day return of -2.07%. The stock reached an intraday low of Rs 1556.2, reflecting a decline of 2.4%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. However, there has been a notable increase in investor participation, with delivery volume rising by 14.29% compared to the 5-day average.

Overall, while Sun Pharmaceutical Industries faces challenges in its current trading environment, the heightened activity in its put options reflects a significant level of market engagement.