Delta Neutral Short Strangle in Nifty

Prem_Agrawal Updated   
NSE:NIFTY   Nifty 50 Index
Strangle will be by Selling 12400 CE and Selling 12300 PE
The premium for 12400 CE = 11.35
Delta of 12400 CE = -0.24
The premium for 12300 PE = 15.1
Delta of 12300 PE = 0.30
Net Credit = 26.45
Overall Delta = 0.06
Net premium received = 1983.75

A Hanging Man candlestick pattern can be spotted on Chart which would have been a Doji if the price difference between Open and Close was not there so it can either be interpreted as Doji or a hanging man but if markets open in red it acts as a confirmation.
In the US markets bulls are showing high confidence as a deal may be signed between the US and China which may affect Indian Markets.

Happy Trading...
Trade closed: target reached: Profit of Rs. 1980 but the hanging man got rejected

Happy Trading...

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.