Not much long added, but significant of PE OIs are added with great support at 14700. Time to sell more PE and less CE

Time:​​ 8:55​​ am VIX:​​ 20.25​​ SGX Nifty:​​ ​​ 14942​​ FII:​​ +227​​ DII:​​ +381

 

Option Data Analysis (Apr)

 

Index

Max Pain

PCR

Highest OI

PE

 

CE

Highest Increase in OI

PE

 CE

Nifty

14700

1.71

14000

15000

14500 (11%)

15300 (15%)

Banknifty

33500

0.87

30000

40000

30000 (12%)

34000 (13%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Apr-21

14,884.65

133.20

0.90%

11,078,550

505,875

4.78%

BANKNIFTY

29-Apr-21

33,131.30

439.75

1.35%

1,983,050

50,000

2.59%

 

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 14000 and highest CE is at 15000.

  • PEs are added at 14500 and CEs are added at 15300

  • More number of PEs are added than CEs

  • Max pain is at 14700 (No Change in Max Pain)

  • PCR is not changing

  • Net​​ future Position is in Neutral

  • Time to​​ sell more PE and less CE

 

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

 

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

  • Highest PE is at 30000 and Highest CE is at 40000

  • PEs are sold at 30000 and CEs are sold at​​ 34000

  • More number of CEs have been added than PEs

  • Max Pain is at 33500 (No change in Max Pain)

  • PCR is not changing

  • Net future position is in Neutral

  • Time to sell more PE and less CEs

 

Executed Trades

  • Exited Naked 36000 CE at 3.5

  • Sold 14700 PE​​ (Monthly) for Elite+ Strategy​​ 

  • Added 2​​ put calendar​​ - Sold 14850 PE (Weekly) – 1, Sold 14800 PE (Weekly) – 1, Bought 14800 PE (Monthly) – 2

  • Taken hedged ratio - Buy 15000 PE -1,​​ lots Sell 14700 PE - 5 lots, Buy 14400 PE - 4 lots

Trading Plan

  • Will manage butterflies and putcalendar

 

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.

 

 

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