Sun Pharmaceutical's Put Options Surge: Over 20,000 Contracts at 1660 Strike Traded Today

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 company, a key player in the Pharmaceuticals & Biotechnology industry, has seen significant trading activity in its put options expiring on May 29, 2025.
Notably, the put option with a strike price of 1660.0 recorded the highest trading volume, with 20,954 contracts traded and a turnover of approximately Rs 1,440.45 lakhs. Following closely, the 1640.0 strike price put option saw 21,871 contracts traded, generating a turnover of Rs 1,071.68 lakhs. Other notable strike prices include 1600.0 and 1620.0, with 18,827 and 13,419 contracts traded, respectively.

The underlying value of Sun Pharmaceutical is currently at Rs 1,689.1. Despite a slight underperformance today, with a return of 0.16% compared to the sector's 0.73%, the stock has shown resilience by gaining after two consecutive days of decline. However, it remains below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging trend.

With an open interest of 2,744 contracts for the 1600.0 strike price and a liquidity level sufficient for trades up to Rs 7.7 crore, Sun Pharmaceutical continues to attract attention in the market. Overall, the trading activity in its put options reflects a notable engagement from investors amid fluctuating market conditions.