thewayofknowing
Long

ICICIBANK Aug Trade [Target: 380]

NSE:ICICIBANK   ICICI BANK
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1
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

Comments

dear friend I have bought icicibank 360 CE. should I or book loss?
Reply
@jnashra, Hold for another day or two, it should bounce back from support level
Or you can Hedge your position by selling 380/390CE. That way you can hold the position until expiry.
Reply
jnashra thewayofknowing
@thewayofknowing, ok thank u!👍
Reply
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