No shorts in seen FNO data. Banknifty max pain is up by 100 points. VIX comes down. Still looks positive. Time for Iron Condor in July

Time: 8:42​​ am VIX:​​ 14.74​​ SGX Nifty:​​ ​​ 15909​​ FII:​​ -1028​​ DII:​​ +302

 

Option Data Analysis (Jul)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

15600

1.56

15500

16000

15500 (12%)

16500 (13%)

Banknifty

35000

0.88

34000

35000

34500 (48%)

35500 (82%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Jul-21

15,801.00

9.20

0.06%

4,467,200

1,931,000

76.14%

BANKNIFTY

29-Jul-21

34,879.55

-138.50

-0.40%

891,725

277,600

45.20%

 

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

  • Global market is up​​ and SGX nifty is up.

  • FII is in sell mode.​​ 

  • Highest PE is at 15500 and highest CE is at 16000.

  • PEs are added at 15500 and CEs are added at 16500.

  • More number of CEs are added than PEs.

  • Max pain is at 15600 (No Change in Max Pain)

  • PCR is not​​ changing.

  • Net future Position is in​​ neutral.​​ 

  • Time to sell​​ short strangle.

 

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

 

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

  • Highest PE is at 34000 and Highest CE is at 35000

  • PEs are sold at 34500 and CEs are sold at 35500.

  • More number of CEs have been added than PEs.

  • Max Pain is at 35000 (Up by 100 points)

  • PCR is not changing.

  • Net future position is in Short.​​ 

  • Time to sell​​ short strangle.

 

Executed Trades

  • Done Intraday Trading and made Profit of 1L.

  • Sold 34500 and 34700 CE

Trading Plan

  • Will do​​ intraday trading in Banknifty.

 

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.