At the top of the range, now would be a good time to try a out of the money put for Nifty 47 or Bank Nifty 88 without much risk. Fund it with the last call over today tomorrow, Soo.. buy 5000 calls (1X), 4700 puts ( or sell 4700 calls -3X-5X )  or buy 9200 calls on bank nifty an d buy the 88 puts in the ratio for funding the other and exit the bought calls/ long positions this week

Of course if you want  a strangle instead, that could also work for the next 2-3 days, a straddle higly risky and expensive as ATMs tend to be in the Indian market. Or as the ET NOW guy said, pick one long stoc and one short ..(thats the long and short of it)

Posted via email from The India Investment Post