Apply Long Straddle in VEDL as high delivery is seen in NSE Reports as traders are expecting a dividend declaration of 10% but Charts are showing a Downmove Option Chain Data suggest Strong Resistance at 150 level and Support is at 140 level but on 1-minute charts, closing has taken place with a Hammer Candlestick which has also Penetrated psychological Resistance which shows High Bullish Sentiment. Most Probably we may see an up move soon but to be on a safe side we are applying Long Straddle at 145 Strike Call Premium is 3 Rupees Put Premium is 2.45 Rupees Call Delta is 0.55 Put Delta is -0.45 Net Delta is 0.1 We will but 1 Lot of VEDL which is 3000 Our Position's Delta will be 300 So although we want our positions to be Neutral the Hedging has lead to a Long Position but as our View is Bullish we are good to go now just let the market do its thing.