Bit shorts added and global market is weak. Market looks negative and Time to sell more CE

Time: 8:42​​ am VIX:​​ 19.79​​ SGX Nifty:​​ ​​ 14629​​ FII:​​ -653​​ DII:​​ -271

 

Option Data Analysis (Apr)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14750

1.62

14000

15000

14800 (7%)

14900 (25%)

Banknifty

33500

0.85

30000

34000

28000 (46%)

33000 (48%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Apr-21

14,893.05

-31.35

-0.21%

11,277,300

800,550

7.64%

BANKNIFTY

29-Apr-21

32,612.60

-333.10

-1.01%

1,754,625

47,825

2.80%

 

Nifty​​ (Over all FNO Position: Range-bound with​​ negative​​ bias)

  • Global market is​​ down​​ and SGX nifty is​​ down

  • FII is in sell mode​​ 

  • Highest PE is at 14000 and highest CE is at 15000.

  • PEs are added at 14800 and CEs are added at 14900

  • More number of CEs are added than PEs

  • Max pain is at 14750 (Up by 50 points)

  • PCR is​​ not changing

  • Net future Position is in​​ shorts

  • Time to sell​​ more CE

 

Banknifty​​ (Over all FNO Position: Range-bound with​​ negative​​ bias)

 

  • ICICI Bank is​​ down​​ 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 33000

  • More number of CEs have been added than PEs

  • Max Pain is at 33500 (No change in Max Pain)

  • PCR is not changing

  • Net future position is in Neutral

  • Time to sell more​​ CE

 

Executed Trades

  • Short strangle at​​ 13700 PE and 15600 CE

  • Double Diagonal Calendar

  • Sold 14700 PE, 14950 CE Sold in Weekly

  • Bought 14600 PE and 15100 CE in Monthly

Trading Plan

  • Will manage short strangle Diagonal Calendar

 

My Position​​ 

 

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.

 

 

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