Stock closed at 202.15. Since 8.1.19 price could not close the day below 200 because of highest OI on 200 Put. There is a positive divergence visible. High speed of Theta (time decay) in the last days of expiry should be able to generate profit.
a) Sell 200 Put at 5.15 or 4 (lot size 3000=approximately 15000 or 12000 premium will be received). 200 Put has the highest OI at 81000 (today 300 shares added). So this is strong support.
b) Wait for the price to move up towards 210 in two three days. In that case sell 220 Call which should be around 3 or 4 (9000 or 12000 premium will be received). 220 has the second highest OI at 72000 today reduced by 6000 shares which indicates that price can move towards 210-15 maximum.
Two weekend holidays will squeeze the value of Put and Call.
SL: If the stock closes the day below 200 or above 220, close the trade. There may be a small profit but not big loss. Else hold on to the position till expiry for a profit of 21000 or 27000 approximately.
a) Sell 200 Put at 5.15 or 4 (lot size 3000=approximately 15000 or 12000 premium will be received). 200 Put has the highest OI at 81000 (today 300 shares added). So this is strong support.
b) Wait for the price to move up towards 210 in two three days. In that case sell 220 Call which should be around 3 or 4 (9000 or 12000 premium will be received). 220 has the second highest OI at 72000 today reduced by 6000 shares which indicates that price can move towards 210-15 maximum.
Two weekend holidays will squeeze the value of Put and Call.
SL: If the stock closes the day below 200 or above 220, close the trade. There may be a small profit but not big loss. Else hold on to the position till expiry for a profit of 21000 or 27000 approximately.
Comment:
PS: This kind of OI positioning comes quite rarely.