Reliance
The stock recently made a high of 2261
On the lower side, 2067 / 2000 are important support levels
Given the set up
One may consider the following Short strangle strategy for July series
Sell 29 July expiry 2260 Call option around 35
Sell 29 July expiry 2000 Put option around 25
Max profit potential of Rs 15000 per strategy lot till expiry (approximately 14% ROI)
Loss in strategy only if Closing on 29 July is either above 2320 or below 1940
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be