 |
| P R Sundar, Aditya Trading Solutions |
Time: 9 pm
Weekly Strategy: Sell SBI 1500 Put and 2000 Call.
- SBI has corrected by 7% last week.
- Nifty is trading at support level.
- So SBI may fall fall significantly from here.
- Also 1500 is a long term support.
- So SBI falling below 1500 is very very unlikely.
- Last week SBI touched a high if 1907.
- Since Bank Nifty is in the correction mode and there are not many positive triggers, SBI crossing 2000 is also very difficult.
- SBI 1500 Put closed at Rs 6.50 and 2000 Call is closed at Rs 11.
- On 13th November, SBI results are due.
- Once the results are over, volatility in this counter will come down, Thursday being holiday, by Friday the premiums should come down for both Puts and Calls.
- By Friday, you may consider closing the positions.
- Those who sold Bank Nifty 10000 Put option and 13000 Call option based on our last week recommendation, may consider selling Bank Nifty 12500 Call option now.
Comments
So far Premium Collected In Bank nifty is 24.45(10000 PE)+30(13000 CE)+13.9 (12500 CE)=68.35
ReplyDeleteToday's Price 10000 PE =62.90+12500 CE 5.55+13000 CE=3.45
so we are in 71.9-68.35= 3.55 Loss
Plus Brokerage +taxes would be around 200 if Options Not Exercised
400 if We Close before expiry
any way good sideways Strategy :)
Hi,
DeleteThanks for your feedback. Markets have fallen continuously for 7 trading sessions. Yet the loss is only two or three rupees only. But 7 days of fall and today markets rose. See the profitability now. Today total premium is less than Rs 30 only. Those who have gone long in futures would have lost 1000 rupees as Bank Nifty fell 1000 points. Yet we lost only 2 to 3 rupees as of yesterday after 7 days of fall. But today we have a profit of Rs 38.
Post a Comment