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)

 

Index

Max Pain

PCR

Highest OI

PE

CE

Highest Increase in OI

PE

 CE

Nifty

11600

1.36

10500

12500

11400​​ (26%)

12000​​ (35%)

Banknifty

23000

0.92

23000

24000

23500​​ (64%)

24000​​ (41%)

 

Future Analysis (Nifty & Banknifty)

Symbol

Expiry Date

Last Price

Chg
(Rs)

Chg
(%)

Open Interest

Change in OI

Change (%)

NIFTY

29-Oct-20

11,675.00

-307.25

-2.56%

11,395,200

74,325

0.66%

BANKNIFTY

29-Oct-20

23,033.60

-917.45

-3.83%

1,603,675

-97,800

-5.75%

​​ 

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​​ 

Executed Trades

  • Rolled down all PEs and CEs

 

Trading Plan

  • Will manage Condor & Straddle

 

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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