Hi , anyone give some views about this , (let take todays closing price for example )
selling nifty cmp 8508.70
selling 8500 pe 76.95
so upper protection is 8584.60 till this expiry , ok what if goes down what are the probailities , here delta for nf is -1 and delta for shorting pe is -.48 ie near .5 till abv 8500
so if nf falls 10 pts , pe will rise 5 pts and if nf falls 20 pts ie goes below 8500 pe will rise 1 pts equal to nf as below 8500 , at which point will get 10 or 20 pts gain ,only below 77 or 72 pts neutral and more 10 20 pts ie nf at 8411.7 or 8416.7 ,more fall then only i will get 20 pts in this trade ? also time decay there if trades sideways