Still positivity continues in max pain, option OI and future OI with strong support at 14100. VIX may fall soon. Time to sell more PE & less CE
Time: 8:25 am VIX: 23.29 SGX Nifty: 14588 FII: +1879 DII: -2370
Option Data Analysis (Jan)
Highest Increase in OI
Future Analysis (Nifty & Banknifty)
Nifty (Over all FNO Position: Range-bound with positive bias)
Global market is up and SGX nifty is flat
FII is in buy mode
Highest PE is at 14000 and highest CE is at 15000.
PEs are added at 13850 and CEs are added at 15000
More number of CEs are added than PEs
Max pain is at 14100 (Up by 100 points)
PCR is not changing
Net future Position is in neutral
Time for iron condor in Feb
Banknifty (Over all FNO Position: Slightly bullish)
ICICI Bank is up and HDFC Bank is up in USA.
Highest PE is at 28000 and Highest CE is at 33000
PEs are sold at 32500 and CEs are sold at 32500
More number of PEs have been added than CEs
Max Pain is at 31500 (No change in Max pain)
PCR is not changing
Net future position is in short covering
Time to sell PE
Rolled up - 15000 CE - 15200, sold 15200 & 15300 *2 - Chicken IC
Sold 13700 PE – Straddle
Made intraday profit of 30K
Will Manage Chicken IC and Straddle
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.
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