Banknifty momentum comes down & it is weaker than Nifty. May lead in range-bound market. Time to sell PE in Nifty and CE in Banknifty
Time: 8:00 am VIX: 20.62 SGX Nifty: 14278 FII: +382 DII: -990
Option Data Analysis (Jan)
Highest Increase in OI
Future Analysis (Nifty & Banknifty)
Nifty (Over all FNO Position: Range-bound)
Global market is up and SGX nifty is up
FII is in buy mode
Highest PE is at 13000 and highest CE is at 14000.
PEs are added at 14200 and CEs are added at 14200
More number of PEs are added than CEs
Max pain is at 13900 (No change in max pain)
PCR is not changing
Net future Position is in neutral
Time for short strangle
Banknifty (Over all FNO Position: Range-bound with negative bias)
ICICI Bank is down and HDFC Bank is up in USA.
Highest PE is at 28000 and Highest CE is at 33000
PEs are sold at 32000 and CEs are sold at 33000
More number of PEs have been added than CEs
Max Pain is at 31200 (Down by 300 points)
PCR is not changing
Net future position is in neutral
Time to sell CE
Exited short strangle
Rolled up PEs in Chicken IC & Elite+
Sold 15000 CE in Chicken IC
Will Manage Elite+, 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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