Polycab India Ltd has emerged as one of the most active stock puts today amid bearish market conditions.

Polycab India Ltd, a prominent player in the cable industry, has emerged as one of the most active stocks in the options market today, particularly in put options. The company’s underlying stock, POLYCAB, is currently valued at Rs 4952.8. Notably, several put options with an expiry date of March 27, 2025, have seen significant trading activity.
The put option with a strike price of Rs 4500 led the activity, with 19,063 contracts traded and a premium turnover of approximately Rs 1,077.78 lakhs. Following closely, the Rs 4900 strike price option recorded 20,023 contracts traded, generating a premium turnover of around Rs 1,256.98 lakhs. Other notable strike prices include Rs 4600, Rs 4700, and Rs 5100, with respective contract volumes of 16,258, 14,446, and 14,238.

Despite this activity, Polycab India has underperformed the sector by 3.09%, with a one-day return of -8.41%. The stock opened with a gap down of 3.92% and reached an intraday low of Rs 4913.65, reflecting a decline of 9.65%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.

In summary, Polycab India Ltd's put options are witnessing heightened activity amid a challenging trading environment, characterized by falling prices and increased investor participation.