Seems like profit booking than short. Pain came down at 11600. Looks range-bound to me. Time for iron condor
Time: 8:35 am VIX: 22.06 SGX Nifty: 11759 FII: -604 Cr DII: -808 Cr
Option Data Analysis (OCT)
Highest Increase in OI
Future Analysis (Nifty & Banknifty)
Nifty (Over all FNO Position: Range-bound with negative bias)
Global market is up and SGX nifty is up
FII is in sell mode
Highest PE is at 10500 and highest CE is at 12500.
PEs are added at 11700 and CEs are added at 11900
More number of CEs are added than PEs
MAX Pain is at 11600 (down by 50 points)
PCR is not changing
Net future Position is in neutral
Good time to sell CE
Banknifty (Over all FNO Position: Range-bound)
ICICI Bank is down and HDFC Bank is down in USA.
Highest PE is at 23000 and Highest CE is at 24000.
PEs are sold at 23500 and CEs are sold at 24000.
More number of PEs have been added than CEs
Max Pain is at 23000 (no change)
PCR is not changing
Net future position is in neutral
Good time to sell strangles
Rolled down all PEs and CEs
Will manage Condor & 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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