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BSE Sensex (29421.40) and NSE Nifty(9108.00) close down by 0.80 % and 0.70% respectively last week.
IDFC and SBI added Open Interest in March series.Huge position was build up at IDEA March call Option Strike Price 120.00.Good build up was also seen at RCOM call Option Strike Price 40.00.
Strategy for Futures Option players
(1) GAIL (383.25) Future-Lot Size 2000 shares.
Buy One Lot April Future @ 383.25 Rs.
Sell One Call Option April strike price 390.00 @ 8.65 Rs
Premium Received = 8.65*2000 = 17300.00 Rs
Maximum Profit= 390.00 – 383.25 = 6.75*2000 = 13500 + 17300 = 30800.00 Rs.
Max Loss=Unlimited.
(2) COAL INDIA (297.50) LOT SIZE 1700 shares
Buy One Call Option of April Strike Price 290@10.00 Rs.
Sell One Call Option of March Strike Price 300.00@ 6.10 Rs.
Premium Paid = 10*1700 = 17000.00 Rs.
Premium Received = 6.10*1700 = 10370.00 Rs.
Net Premium Paid = 17000.00 – 10370.00 = 6630.00 Rs.
Maximum Profit = 300.00 – 290.00 = 10*1700 = 17000.00 – 6630.00 = 10370.00 Rs.
Maximum Loss = 6630.00 Rs.
Break Even = 293.90
Trading Idea
(1) BANK INDIA (133.05) Buy this stock in decline and trade.
(2) BANK OF BARODA (169.05) Buy this stock in decline and trade.
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