Is Stock options volume good enough to hedge with futures?

I was thinking of buying a PNB futures contract and combine it with Buy 150 put option @ 2.75. I read somewhere than stock option volumes are not good. Is it true in 2017 too. Are volumes good enough to be considered for trading.

Span calculator shows whopping 50k margin benefit for above trade example.

ATM options in PNB have good liquidity. You can surely go ahead with it.

Its’the open interest which is a better indicator of liquidity rather than only volume