Surge in Active Put Options for Sun Pharmaceutical with 2,972 Contracts at 1720 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 company, a significant player in the Pharmaceuticals & Biotechnology industry, has seen notable trading activity in its put options with expiry set for July 31, 2025.
Two key strike prices have attracted attention: 1700 and 1720. For the 1700 strike price, 2,091 contracts were traded, resulting in a turnover of approximately Rs 3.81 lakhs, while the 1720 strike price saw 2,972 contracts traded, generating a turnover of around Rs 31.31 lakhs. The open interest for these puts stands at 3,845 and 2,720 contracts, respectively, indicating a robust interest in these options.

The underlying value of Sun Pharmaceutical is currently at Rs 1,726.0. Despite a slight decline of 0.31% in the stock's one-day return, it has outperformed its sector by 0.57%. The stock has recently experienced a trend reversal after six consecutive days of gains, with moving averages indicating it is above the 5-day, 20-day, 50-day, and 100-day averages, yet below the 200-day average.

Investor participation has risen, with a delivery volume of 14.54 lakhs on July 30, reflecting a 64.1% increase compared to the 5-day average. The stock remains liquid, accommodating trade sizes of Rs 5.83 crores based on 2% of the 5-day average traded value. Overall, Sun Pharmaceutical Industries Ltd continues to be a focal point in the market, driven by significant options activity and evolving trading dynamics.