HDFC Bank's Put Options Surge: 26,415 Contracts at Rs 1940 Strike Highlight Market Activity

HDFC Bank Ltd. has emerged as one of the most active stocks in the options market today, particularly in the put options segment. The bank, a prominent player in the private banking sector, has seen significant trading activity in its put options with expiry set for April 24, 2025.
Notably, the put option with a strike price of Rs 1940 recorded the highest trading volume, with 26,415 contracts exchanged, resulting in a turnover of approximately Rs 1,171.33 lakhs. This was followed by the Rs 1920 strike price put, which saw 22,648 contracts traded and a turnover of Rs 414.80 lakhs. The Rs 1900 strike price put also attracted attention, with 18,367 contracts traded and a turnover of Rs 131.32 lakhs.

The underlying value of HDFC Bank is currently Rs 1958.0, reflecting a slight decline of 0.39% in its one-day return, while the sector's return was marginally better at -0.13%. The stock has recently hit a new 52-week high of Rs 1978.9 but has experienced a trend reversal after six consecutive days of gains. HDFC Bank remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong performance relative to its historical trends.

With an open interest of 6,042 contracts for the Rs 1900 put, 3,515 for the Rs 1920 put, and 3,815 for the Rs 1940 put, liquidity appears robust, supporting a trade size of Rs 65.62 crore. Overall, HDFC Bank continues to be a focal point in the market, reflecting active trading dynamics in its options segment.