There is no speculation in FNO data, but Banknifty looks positive as max pain goes up to 23700. Time to sell CE in Nifty and PE in Banknifty

Time: 8:40​​ am VIX:​​ 22.91 ​​​​ ​​ SGX Nifty: ​​ 11900​​ FII:​​ +2108​​ Cr​​ DII:​​ -1634​​ Cr

 

Option Data Analysis (OCT)

 

Index

Max Pain

PCR

Highest OI

PE

CE

Highest Increase in OI

PE

 CE

Nifty

11700

1.40

10500

12500

10800​​ (14%)

12200​​ (11%)

Banknifty

23700

1.14

23000

25000

24500​​ (35%)

24800 (355%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Oct-20

11,929.10

33.20

0.28%

10,743,825

-81,525

-0.75%

BANKNIFTY

29-Oct-20

24,705.10

353.35

1.45%

1,492,500

-11,500

-0.76%

​​ 

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

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

  • FII is in buy mode

  • Highest PE is at 10500 and highest CE is at 12500.

  • PEs are added at​​ 10800​​ and CEs are added at​​ 12200

  • More number of PEs are added than CEs

  • MAX Pain is at 11700 (no change)

  • PCR is not​​ changing

  • Net future Position is in neutral

  • Good time​​ for short strangle​​ 

 

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

 

  • ICICI Bank is up and HDFC Bank is up in USA.

  • Highest PE is at 23000 and Highest CE is at 25000.

  • PEs are sold at 24500 and​​ CEs are sold at 24800.

  • More number of PEs have been added than CEs

  • Max Pain is at 23700 (up by 200 points)

  • PCR is not changing

  • Net future position is in neutral

  • Good time to sell more PEs with hedge​​ 

Executed Trades

  • Had intraday loss of 2%

  • Booked loss of 4.7L

  • Exited everything

 

Trading Plan

  • Will do expiry trading

 

My Position​​ (No 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.