Market is weak. Vega is up, Gamma is in. Awesome setup to capture high theta/Vega in intraday with low delta options
VIX: 12.5 SGX Nifty: 9516 FII: +292 Cr DII: -149 Cr
Interest Analysis
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Index
|
Max Pain
|
PCR
|
Highest
|
Highest Increase
|
||||||
|
Nifty
|
9500
|
0.91
|
9500
|
9700
|
9400 (9%)
|
9600 CE (36%)
|
||||
|
Banknifty
|
23400
|
0.88
|
23000
|
24000
|
22900 (198%)
|
23500 (108%)
|
||||
Data and Analysis
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Index
|
Support
|
Resistance
|
4 Hour Trend
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Daily Trend
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Weekly Trend
|
|
Nifty
|
9376
|
9725
|
Up
|
Up
|
Up
|
|
Banknifty
|
23289
|
24636
|
Up
|
Up
|
Up
|
position and Volume Analysis (Nifty and Banknifty stocks)
|
Long Build Up
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Profit Booking
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Short Build Up
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Short Covering
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High Delivery Volumes
|
|
Infratel, ITC, Hero, Grasim
|
Bankindia, Ambuja,
PNB, BoB, Auro, HDFC Bank, Indusind, Kotak, |
MM, LT, Canara, SBI,, Bajaj, HCL, Cipla, Axis,
Ultratech, Bosch, TechM, ICICI, Wipro, Infy, HDFC |
Reliance, Sun Pharma,
ONGC, Reddy, Lupin |
TechM, Indusind, HDFC, Hul, Wipro, Bajaj
|
(Over all FNO Position: Bearish, but downside is limited for this expiry)
FIIs are in buy side now.
Global market is slightly negative and SGX nifty is flat.
Overall FNO position is in short
Highest CE is at 9700 and highest PE is moved to 9500.
CEs are sold heavily yesterday in multiple strike prices.
PE is sold only at 9400.
Max Pain came down to 9500 and PCE looks very weak.
Pharma sector is in short covering mode. Accumulation started with bullish divegence in
Dr Reddy (Only for cash market).
However still high PE is at 9500. Hence downside is limited, but
at any time, unwinding may happen.
downside is limited for this expiry)
Both ICICI Bank and HDFC Bank are down in USA.
Highest CE is at 24000 and Highest PE is at 23500.
22900 PE is sold and CE is sold at 23500 CE.
CEs are sold heavily. All banking stocks are in short mode.
PCR is very weak and Max Pain is at 23400.
Downside is very limited to 22900 for this expiry.
Awesome time to capture in theta in intraday.
Be brave if gamma tries to play over your head.
Sell 22500 PE and 24000 CE for intraday.
Banknifty came down 600 points in intraday.
Sold as many CEs as possible.
Not enough to defend my PEs (23000 and 22900).
Shorted Banknifty futures, sold 22700 PE and 22000 PE in next
month.
In the end, exited most dangerous positions completely.
For nifty also sold as many CEs and in the end, exited completely.
Sold 22500 and 22400 PEs. Holding all CEs.
Total MTM loss was 25K in the end. Was happy with the way I
traded.
Refer my open positions for more details.
Planning to do intraday today heavily as VIX is high.
By end of day, planning to take short strangle in Banknifty and
short straddle in Nifty.
| Product | Instrument | Qty. | Avg. price | LTP | P&L | Chg. | |
|---|---|---|---|---|---|---|---|
| NRML | BANKNIFTY17JUN22500PE NFO | -1200 | 8.23 | 8.85 | -746.00 | +7.56% | |
| NRML | BANKNIFTY17JUN23900CE NFO | -1200 | 11.28 | 5.40 | +7060.00 | -52.14% | |
| NRML | BANKNIFTY17JUN24000CE NFO | -1200 | 11.82 | 4.10 | +9264.00 | -65.31% | |
| NRML | BANKNIFTY17JUN22400PE NFO | -600 | 6.51 | 6.60 | -56.00 | +1.43% | |
| NRML | BANKNIFTY17JUN23700CE NFO | -600 | 10.00 | 10.30 | -180.00 | +3.00% | |
| NRML | BANKNIFTY17JUN23800CE NFO | -600 | 9.12 | 7.05 | +1240.00 | -22.67% | |
| TOTAL | 16,582 | ||||||
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.