Vodafone Idea Ltd. Sees Surge in Active Put Options with 3,565 Contracts Traded at Rs 7 Strike

Vodafone Idea Ltd., a prominent player in the telecommunication service provider sector, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, IDEA, has seen significant activity with 3,565 put contracts traded, reflecting a turnover of Rs 271.016 lakhs. The puts have a strike price of Rs 7 and are set to expire on April 24, 2025, with an open interest of 2,730 contracts.
Despite this activity, Vodafone Idea has underperformed its sector by 2.02% today, continuing a downward trend that has seen the stock decline for four consecutive days, resulting in a total return of -10.58% over this period. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment.

Investor participation has also waned, with delivery volume dropping by 15.45% compared to the 5-day average. However, the stock remains liquid enough for trades, with a trading value of Rs 17.77 crores based on 2% of the 5-day average. Today, Vodafone Idea recorded a one-day return of -1.49%, contrasting with a sector return of 1.88% and a Sensex return of 0.67%.

In summary, while Vodafone Idea's put options are actively traded, the stock faces challenges in terms of performance and investor engagement.