No aggression positions is seen. Market is set to go range-bound, but no short created yet. Time for short strangle with protection

Time: 8:45 am  ​​ VIX:​​ 16.67 ​​​​ SGX Nifty:​​ ​​ 11624​​ ​​ FII:​​ +150​​ Cr ​​​​ DII:​​ -13​​ Cr

 

Option Data Analysis

 

Index

Max Pain

PCR

Highest OI

PE

CE

Highest Increase in OI

PE

 CE

Nifty

11300

1.27

11000

11600

11300 (15%)

11400​​ (114%)

Banknifty (M)

29300

0.84

29000

30000

29200 (221%)

29500​​ (145%)

 

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

 

Long Build Up

Profit Booking

Short Build Up

Short Covering

PGC, Adandi, Cipla, MTPC, ONGC

UPL

ZEEL

 

 

Nifty​​ (Over all FNO Position: Neutral)

 

Global market is flat and SGX nifty is flat

FII is in buy side

Highest PE is at 11000 and highest CE is at​​ 11600.

PEs are added at 11300 and CEs are added at​​ 11400

More number of​​ CEs have been added than PEs

MAX Pain is at 11300 (no change)

PCR is decreasing

Net future Position is neutral

Time to do short strangle​​ with protection

 

Banknifty​​ (Over all FNO Position: Neutral)

 

ICICI Bank is​​ bit down​​ and HDFC Bank is​​ bit​​ down in USA.

Highest PE is at​​ 29000 and Highest CE is at 30000.

PEs are sold at​​ 29200​​ and CEs are sold at​​ 29500.

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

Max Pain is at​​ 29300​​ (no change)

PCR is decreasing

Net future positions is neutral

Time to do short strangle with protection

 

 

Executed Trades

  • Sold 30000 CE at 19

 

Trading Plan

  • Will try to create short strangles

 

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.