Bankex ₹65,000 put spikes nearly 14,700% to ₹987 in cas
Business
The Bankex derivatives market got seriously shaken up on Thursday.
A put option with a ₹65,000 strike price shot up from just ₹6.65 to ₹987, a nearly 14,700% jump in minutes, as the Closing Auction Session (CAS) kicked in and briefly hinted at a sharp Sensex drop.
Bankex put premiums surged, triggering stop-losses
CAS volatility sent premiums for several Bankex puts soaring by 500% to 4,500%, catching many traders off guard.
These sudden moves triggered stop-loss orders and, social media chatter said, heavy losses for options sellers.