Bit long is taken & max pain started moving, surprisingly no speculation seen in heavy weights. Better to sell PE with protection

Time: 8:45 am  ​​ VIX:​​ 16.49 ​​​​ SGX Nifty:​​ ​​ 11502​​ ​​ FII:​​ +999​​ Cr ​​​​ DII:​​ -198​​ Cr

 

Option Data Analysis

 

Index

Max Pain

PCR

Highest OI

PE

CE

Highest Increase in OI

PE

 CE

Nifty

11400

1.60

11000

11500

11400 (56%)

11650​​ (90%)

Banknifty (M)

29500

1.20

29500

30000

29500 (75%)

30300 (36%)

 

Future &​​ Volume Analysis (Nifty & Banknifty stocks)

 

Long Build Up

Profit Booking

Short Build Up

Short Covering

Bajaj Finserv, GAIL, Asian Paint, ZEEL, Cipla, Titan

UPL

INFY

VEDL

 

Nifty​​ (Over all FNO Position:​​ Slightly Bullish)

 

Global market is​​ up​​ and SGX nifty is​​ bit up

FII is in buy side

Highest PE is at 11000 and highest CE is at 11500.

PEs are added at​​ 11400 and CEs are added at 11650

More number of PEs have been added than CEs

MAX Pain is at 11400 (up by 100 points)

PCR is increasing

Net future Position is long

Time to sell PE with protection

 

Banknifty​​ (Over all FNO Position: Neutral with positive bias)

 

ICICI Bank is​​ up​​ and HDFC Bank is​​ upin USA.

Highest PE is at​​ 29500​​ and Highest CE is at 30000.

PEs are sold at 29500 and CEs are sold at 30300

More number of PEs have been added than CEs

Max Pain is at 29500 (up by 200 points)

PCR is increasing

Net future positions is neutral

Time to do short strangle with protection

 

 

Executed Trades

  • Exited 30000 CE at 21.

  • Sold 29200, 29300 29400 PE and bought 28700 PE​​ 

  • Sold 30600 CE & 30800 CE

 

Trading Plan

  • Planning to sell more PEs today

 

Open Positions

 

 

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.

He is the Mastermind of CapitalZone – Active Option Trading where Traders can avail Trading Chart with customised indicators, FNO tools and Payoff analysis. His keynote is to provide whole FNO deets to be handy for Traders in a sole place.

Now he is taking more heed on hedging portfolio in Option Writing where we might subject to more market risk. He is streamlining his strategies often and improving perpetually. At this time unfolding ways to measure good-quality Trend Following System.

Conducting workshop in all Metro Cities (Delhi, Mumbai, Bangalore, Chennai and Coimbatore) often based on queries from Traders.