Surge in Vedanta Ltd. Put Options: 14,984 Contracts at Rs 440 Strike Price Traded

Vedanta Ltd., a prominent player in the Non-Ferrous Metals industry, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, VEDL, is currently valued at Rs 441.1. Notably, two significant put options are drawing attention: one with a strike price of Rs 430, which saw 12,493 contracts traded and a turnover of Rs 533.01 lakhs, and another with a strike price of Rs 440, where 14,984 contracts were traded, resulting in a turnover of Rs 1,066.64 lakhs.
The open interest for these options stands at 3,381 and 3,322, respectively, indicating a robust interest in these contracts. Despite this activity, Vedanta's stock has underperformed its sector by 0.49% today, with a one-day return of -1.84%. The stock has experienced a trend reversal, falling after two consecutive days of gains. However, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend.

With a high dividend yield of 7.89% and a market capitalization of Rs 1,75,655.00 crore, Vedanta continues to maintain liquidity suitable for trades of Rs 6.35 crore. Overall, the activity in Vedanta's put options reflects a significant engagement in the market, underscoring the stock's current dynamics.