I think you talking about Doji candle in monthly chart....So immediate positive trend is over.....but I am contrarian.....I do opposite what maximum traders think.....
But I'm sure there are a lot of people who have bought it near the low and are still holding on to that position which very likely will move above HOD.
Imagine the shock of unhedged option writer who tried to scalp his monthly 3-5 pts in option on expiry and booooooom.... options explodes in his face wiping out all his 2 yrs worth of option writing profits!
Dear Amit , I trade in BNF Options and they are very much tradeable. Only thing is that the spread in Bid-Ask seems quite a bit but the nature of this index makes this happen. If the trade goes your way then these options work really good.
I have an experience of buying BNF OTM PEs @ around 112 and selling them @ approx 1174 within a span of 20-22 trading days when BNF fell very fast last August.