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ICICIBANK Aug Trade [Target: 380]

Long
NSE:ICICIBANK   ICICI BANK
ICICIBANK has been oscillating between 340 (Strong Support) and 385 (Strong Resistance). In the absence of any major triggers, it is expected to trade range bound

Here is a credit-neutral strategy for August

Bull Call Ratio Spread:
BUY 1x AUG 360CE
SELL 1x AUG 380CE
SELL 1x AUG 390CE

Cost of spread ~0
Profit :: Stock closes beyond 360 at expiry
Max Profit :: 27600 if ICICIBANK closes between 380 and 390
Breakeven at Expiry :: 410
SL :: If ICICI crosses 400 before expiry, book profit/loss
:: No SL needed on the downside
Note: It is a theta +ve trade, that is the more time it takes to reach target, higher the profit potential

These are just my 2 cents on the matter, please trade with caution and at your own risk

Happy Trading!
Comment: Profit till date ~12,300

Hold till expiry for max profit , if stock stays < 380
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