Shorts added in Banknifty than Nifty with decreasing max pain (800). Looks weak. Time for Elite+ in May or sell CE
Time: 8:55 am VIX: 23.00 SGX Nifty: 14844 FII: NA DII: NA
Option Data Analysis (Apr)
Highest Increase in OI
Future Analysis (Nifty & Banknifty)
Nifty (Over all FNO Position: Range-bound with positive bias)
Global market is up and SGX nifty is up
FII is in sell mode
Highest PE is at 14000 and highest CE is at 15000.
PEs are added at 14300 and CEs are added at 14500
More number of CEs are added than PEs
Max pain is at 14600 (Down by 150 points)
PCR is not changing
Net future Position is in Neutral
Time to sell more PE and less CE
Banknifty (Over all FNO Position: Range-bound with positive bias)
ICICI Bank is up and HDFC Bank is down in USA.
Highest PE is at 30000 and Highest CE is at 34000
PEs are sold at 28000 and CEs are sold at 32000
More number of CEs have been added than PEs
Max Pain is at 32700 (Down by 800 points)
PCR is not changing
Net future position is in Short
Time to sell more PE and less CEs
Exited put calendar with Rs 3100 loss
Exited PE alone strangle and sold 15400 & 15300 CE
Having only CEs
started intraday option selling in BNF (Tried with one lot)
Will manage short strangle Diagonal Calendar
Jegathesan Durairaj, a mathematician by qualification, an Ex-software professional and now a full time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity in twitter as itjegan, with huge followers. He had won Zerodha 60 Day Challenge – 10 Times round-the-clock. He is one of the prime Option Writing Trainer and tutored close to 1000 members till now.
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