Positional Option selling Idea- HCL TechResistance at 850 levels.
Sell 850CE, CMP - 23.
Lot Size - 1400
Max Profit - 32,200
Loss only if expires above 873.
Or exit once Stock is closes above 850.
Theta is around 70, there are high chances if stock doesn't closes above 830 in next five session. Premium will be below 820.
Will do adjustments if required, for now buying it as a naked CE short.
HCLTECH
HCLTECH is Running in SR Zone (Strong Breakout Trade)HCL Technologies Limited : Information Technology Company ( NSE:HCLTECH ) is Making SR Zone (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma