Tata Steel Ltd Sees Surge in Active Put Options with 4,887 Contracts at Rs 160 Strike

Tata Steel Ltd, a prominent player in the Ferrous Metals industry, has emerged as one of the most active stocks today, particularly in the options market. The company’s underlying stock, TATASTEEL, is currently valued at Rs 165.55. Notably, two put options with expiry dates set for July 31, 2025, have garnered significant attention.
The first put option, with a strike price of Rs 160, saw 4,887 contracts traded, resulting in a turnover of approximately Rs 459.62 lakhs and an open interest of 1,795 contracts. Meanwhile, the second put option, priced at Rs 165, recorded 4,948 contracts traded, leading to a turnover of around Rs 903.50 lakhs and an open interest of 1,167 contracts.

Despite this activity, Tata Steel has underperformed its sector by 0.99% today, with a one-day return of -1.51%. The stock has experienced a trend reversal, falling after three consecutive days of gains. However, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive long-term trend. Additionally, the stock's liquidity remains robust, with a delivery volume of 2.84 crore on July 3, reflecting a 76.79% increase against the 5-day average.

In summary, Tata Steel's notable activity in the options market, coupled with its current market position, highlights the dynamics at play within this large-cap company in the ferrous metals sector.