Swingtrader20192015

Expiry Special @ Bank Nifty short strangle

NSE:BANKNIFTY   NIFTY BANK
Today may be a range bound expiry for bank nifty . We can try short strangle with following options

Short 29800CE and 29200PE. Bank nifty is having strong resistance around 27980 levels and good support at 29250 levels for premium of 35 and 25.

My expectation is bank nifty will close between this levels today.

Margin required for above strategy 70K and return expected is premium of around 50 i.e. 50X25=1.2K

This idea is for educational purpose only but should not be treated as a call for trade.
Trade active: Entered by shorting 29700 CE and 29200PE for total premium 70rs.

Bank nifty nicely moving in the range. Hope there wont be any surprise by the market and market expires in the range of 29200-29700.
Trade closed manually: Black Thursday. Market has shown one side momentum. Exited 29700 CE with 1000 profit and booked 1000 loss in 29200 PE.

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