Dear aditya14/abigbull,
Yes, one should be fearful when world is getting greedy.
Lets watch the Nifty direction for a while before initiating any bearish/bullish view. This is the time for writting a straddle i.e. Write Nifty Sept 4700 call and 4700 put with total SL = Rs 2000/- with a Target = Rs 7000/-
Regards
Yes, one should be fearful when world is getting greedy.
Lets watch the Nifty direction for a while before initiating any bearish/bullish view. This is the time for writting a straddle i.e. Write Nifty Sept 4700 call and 4700 put with total SL = Rs 2000/- with a Target = Rs 7000/-
Regards
P/L for those of you who are holding the 4700 straddle :
Written 1 lot 4700 Call at 167.95 (CMP = 177.3 P/L=Rs -35.00/-)
Written 1 lot 4700 Put at 176.6 (CMP = 82.5 P/L=Rs 4272.50/- )
Total P/L= Rs 4237.5/-
Nifty has closed above 4755 so lets exit this position tomorrow.
Regards