Current outstanding Option trades
UNIONBANK Sold PE NOV 125 @4.6
UNIONBANK Sold PE NOV 130 @6.6
Recent Trades
None
08/11/2013 EOD Setup
NIFTYtoday broke support 6177 and drifting lower but still in consolidation mode and need follow up action on monday .Any close below final support 6096 on monday can only attract selling. Slight resistance is at 6185 and then 6260
NIFTY IV is very low in November series puts and market seems to be very confident of not going down any further and premiums are not good for put option writing.Even if any selling to happen it happens only after a sideways movment for a while.
BankNifty broke 11030 and may go to final support level around 10700 but is stll in consolidation mode.
UNIONBANK long positions are unwinding and no short addition is happening as PUT IVs are in control .Support is at 123.5 .
ICICI Bank broke its support at 1050 and need follow up action on monday as PUT IVs are not going up, if follow up selling occurs slight support is at 1028 and final good support at 1005 .
UNIONBANK Sold PE NOV 125 @4.6
UNIONBANK Sold PE NOV 130 @6.6
Recent Trades
None
08/11/2013 EOD Setup
NIFTYtoday broke support 6177 and drifting lower but still in consolidation mode and need follow up action on monday .Any close below final support 6096 on monday can only attract selling. Slight resistance is at 6185 and then 6260
NIFTY IV is very low in November series puts and market seems to be very confident of not going down any further and premiums are not good for put option writing.Even if any selling to happen it happens only after a sideways movment for a while.
BankNifty broke 11030 and may go to final support level around 10700 but is stll in consolidation mode.
UNIONBANK long positions are unwinding and no short addition is happening as PUT IVs are in control .Support is at 123.5 .
ICICI Bank broke its support at 1050 and need follow up action on monday as PUT IVs are not going up, if follow up selling occurs slight support is at 1028 and final good support at 1005 .