Shorts are added, but not rolled much. FNO data looks negative, but SGX Nifty is up. Time for short straddle in July as VIX increased

Time: 8:50​​ am VIX:​​ 15.29​​ SGX Nifty:​​ ​​ 15744​​ FII:​​ -879​​ DII:​​ +45

 

Option Data Analysis (Jul)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

15700

1.60

15500

16500

15500 (48%)

15700 (76%)

Banknifty

34700

0.77

33000

36000

33000 (325%)

39500 (172%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Jul-21

15,730.05

-109.35

-0.69%

1,529,850

259,600

20.44%

BANKNIFTY

29-Jul-21

34,732.35

-500.45

-1.42%

375,600

137,900

58.01%

 

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

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

  • FII is in​​ sell​​ mode.​​ 

  • Highest PE is at 15500 and highest CE is at 16500.

  • PEs are added at 15500 and CEs are added at 15700.

  • More number of CEs are added than PEs.

  • Max pain is at 15700 (No change in Max Pain)

  • PCR is not changing.

  • Net future Position is in Short.​​ 

  • Time to sell CE

 

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

 

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

  • Highest PE is at 33000 and Highest CE is at 36000

  • PEs are sold at 33000 and CEs are sold at​​ 39500.

  • More number of CEs have been added than PEs.

  • Max Pain is at 34700 (Down by 300 points)

  • PCR is not changing.

  • Net future position is in Short.​​ 

  • Time to sell CE

 

Executed Trades

  • Done expiry trading and made Profit of 2.25L

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.