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Nifty Looks Weaker Than Bank Nifty as Max Pain is Coming Down. Time to sell more CE and less PE with Hedge.

Time:​​ 9:00​​ am  ​​ VIX:​​ 38.18 ​​​​ ​​ SGX Nifty: ​​ 9144 ​​ ​​ ​​ ​​​​ FII:​​ -2152​​ Cr ​​ ​​ ​​​​ DII:​​ +802

 

Option Data Analysis

 

Index

Max Pain

PCR

Highest OI

PE

CE

Highest Increase in OI

PE

 CE

Nifty

9300

1.3

9000

10000

8800

9500

Banknifty

19500

0.87

19000

20000

19500

19500

 

Future & Analysis (Nifty & Banknifty stocks)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

High
Low

Average
Price

Open Interest

Change in OI

Change (%)

Vol. Shares
Prev. Volume

% Change

NIFTY

28-May-20

9,142.70

-250.85

-2.67%

9,282.55
9,110.00

9,199.11

7,516,350

0

0.00%

17,484,375
17,484,375

0.00%

BANKNIFTY

28-May-20

19,040.35

-576.65

-2.94%

19,340.50
18,957.25

19,157.13

1,179,620

0

0.00%

6,185,920
6,185,920

0.00%

​​ 

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

 

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

  • FII is in sell mode

  • Highest PE is at 9000 and highest CE is at 10000.

  • PEs are added at​​ 8800​​ and CEs are added at 9500

  • More number of​​ CEs are added than​​ PEs

  • MAX Pain is​​ at 9300 (Up by​​ 200​​ points)

  • PCR is​​ not changing

  • Net future Position is​​ in short

  • Time to sell more CE and less PE with hedge

 

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 19000 and Highest CE is at​​ 20000.

  • PEs are sold at​​ 19500​​ and CEs are sold at​​ 19500.

  • More number of​​ CEs have been added than​​ PEs

  • Max Pain is at 19500 (no change)

  • PCR is​​ not changing

  • Net future position is​​ in short​​ 

  • Time to stay away

 

Executed Trades

  • Created short strangle in Biocon at 300 PE & 380 CE

 

Trading Plan

  • Will​​ Manage the position

 

Open Positions

 

 

 

 

 

 

 

 

 

 

 


Product

Instrument

Qty.

Avg.

LTP

P&L

Chg.

 

 

NRML

ASIANPAINT MAY 1800 CE NFO

-300

20.10

4.40

+4,710.00

-78.11%

 

NRML

BHARTIARTL MAY 600 CE NFO

-3702

11.00

5.90

+18,880.20

-46.36%

 

NRML

BIOCON MAY 300 PE NFO

-2300

5.10

4.20

+2,070.00

-17.65%

 

NRML

BIOCON MAY 380 CE NFO

-2300

5.15

3.60

+3,565.00

-30.10%

 

NRML

HDFC MAY 2100 CE NFO

-500

29.05

2.80

+13,125.00

-90.36%

 

NRML

HDFCBANK MAY 1100 CE NFO

-1000

10.90

3.00

+7,900.00

-72.48%

 

NRML

HINDUNILVR MAY 2000 PE NFO

300

65.00

59.25

-1,725.00

-8.85%

 

NRML

HINDUNILVR MAY 2200 CE NFO

-300

22.00

16.55

+1,635.00

-24.77%

 

NRML

HINDUNILVR MAY 2300 CE NFO

-300

52.50

8.10

+13,320.00

-84.57%

 

NRML

HINDUNILVR MAY FUT NFO

300

2,297.85

2,012.80

-85,515.00

-12.41%

 

NRML

ICICIBANK MAY 400 CE NFO

-1375

11.00

2.20

+12,100.00

-80.00%

 

NRML

INFY MAY 750 CE NFO

-1200

7.75

2.85

+5,880.00

-63.23%

 

NRML

KOTAKBANK MAY 1500 CE NFO

-400

18.75

3.15

+6,240.00

-83.20%

 

NRML

NIFTY DEC 11000 CE NFO

-450

338.50

182.15

+70,357.50

-46.19%

 

NRML

NIFTY DEC 12000 CE NFO

-300

115.00

72.00

+12,900.00

-37.39%

 

NRML

NIFTY DEC 7000 PE NFO

-300

325.00

191.60

+40,020.00

-41.05%

 

NRML

NIFTY DEC 9000 PE NFO

-300

582.50

680.75

-29,475.00

16.87%

 

NRML

NIFTY JUN 10500 CE NFO

-300

160.01

43.75

+34,878.75

-72.66%

 

NRML

NIFTY JUN 9000 PE NFO

-300

460.00

347.00

+33,900.00

-24.57%

 

NRML

NIFTY JUN 9500 CE NFO

-300

433.75

258.20

+52,665.00

-40.47%

 

NRML

NIFTY JUN 9500 PE NFO

-300

337.00

604.10

-80,130.00

79.26%

 

NRML

NIFTY JUN FUT NFO

-300

9,160.25

9,151.30

+2,685.00

-0.10%

 

NRML

NIFTY MAY 10500 CE NFO

-300

47.50

8.65

+11,655.00

-81.79%

 

NRML

RELIANCE MAY 1386.85 PE NFO

-505

19.55

30.75

-5,653.75

57.25%

 

NRML

RELIANCE MAY 1684.05 CE NFO

-1515

20.05

5.45

+22,118.25

-72.82%

 

NRML

TCS MAY 2200 CE NFO

-500

18.75

5.25

+6,750.00

-72.00%

 

 

Total

+1,74,855.95

 

 

 

 

 

 

 

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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