Options Big Shot-Indian Market View, VOL-015

Options Big Shot-Indian Market View, VOL-015

Finaux Alpha 6 Investment Adviser Pvt. Ltd.

Learning Quote: Short Condor ( Short Call Condor): It is a neutral strategy with limited risk and a limited profit. The short condor strategy is suitable for a high volatile underlying. The goal of this strategy is to profit from a stock price moving up or down beyond the highest or lowest strike prices of the position. The strategy is similar to Short Call Butterfly strategy with the difference being in the strike prices selected. In Short Condor, a Bear Call Spread and a Bull Call Spread combined into 1 strategy. The trader enters into this strategy by buying a lower strike ITM call, selling an even lower striking ITM call, buying a higher strike OTM call, and selling another even higher striking OTM call. The Net credit of the premium possible profit in this strategy. The maximum loss is equal to the difference in strike prices of 2 lower striking calls less the initial credit taken to enter the trade.

Nifty Futures : 15118.85 (-0.58%)

Bank Nifty Futures: 36600.00 (-1.02%)

India Vix : 21.54 (+0.14%)

Put Call Ratio/Maximum Pain

NIFTY 1.12/15000

BANK NIFTY 0.85/36000

Nifty- Option Chain

Maximum CE open interest of 26.52 lakhs contracts was seen at 15,300 strikes, which will act as a crucial resistance, while maximum PE open interest of 31.49 lakh contracts was seen at 15000 strikes. 

Nifty has key support levels for the day are 15000 followed by 14900. If the index moves up, the key resistance levels to watch out for the level of 15200 and 15330.

Bank Nifty- Option Chain

Maximum CE open interest of 8.62 lakhs contracts was seen at 37,000 strikes which will act as a crucial resistance, while maximum PE open interest of 4.65 lakh contracts was seen at 36,000 strikes. 

Bank Nifty has key support levels for the Bank Nifty are 36000 followed by 35800. If the index moves up, the key resistance levels to watch out for are 37300 and 37600.


Top Pick

Buy AuroPharma 920 PE above 28. Stop loss 15. Target 45.

Buy Titan 1420 PE above 19. Stop Loss 5.00. Target 35.

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