ONGC Sees Surge in Put Options Ahead of Expiry

Oil & Natural Gas Corporation Ltd. (ONGC) witnessed significant put option activity on August 5, 2026, with 3,228 contracts traded at the Rs 240 strike price.

The underlying stock price closed at Rs 241.44, slightly above the put strike, and the expiry date is just 20 days away, adding time sensitivity to this activity.

The near-the-money strike, positioned just 0.6% below the current market price, suggests that the put contracts are neither deeply out-of-the-money nor in-the-money.

This proximity means the put buyers are paying a premium for meaningful protection, while sellers are likely confident the stock will not breach this level before expiry.