Tata Elxsi Ltd. Sees Surge in Put Options, 3,504 Contracts at Rs 5,700 Strike

Tata Elxsi Ltd., a prominent player in the Computers - Software & Consulting industry, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, TATAELXSI, is currently valued at Rs 5,926.50. Notably, several put options with an expiry date of July 31, 2025, have seen significant trading activity.
The put option with a strike price of Rs 5,700 recorded the highest volume, with 3,504 contracts traded and a turnover of Rs 420.28 lakhs. Following closely, the Rs 5,900 strike price option saw 3,528 contracts traded, generating a turnover of Rs 729.12 lakhs. Other notable strike prices include Rs 5,600, with 3,037 contracts and Rs 5,800, with 3,731 contracts traded.

Despite this activity, Tata Elxsi's stock has underperformed, falling 4.9% over the past six days and opening down 7.68% today. The stock touched an intraday low of Rs 5,660. Additionally, it has shown a decline in investor participation, with delivery volume decreasing by 0.89% against the five-day average.

In summary, while Tata Elxsi's put options are actively traded, the stock itself is experiencing a challenging period, marked by declining performance metrics and investor participation.