Underlying Index: BANKNIFTY 25737.

50 As on Nov 07, 2018 [Link] IS

CALLS
Ch Chng Volum Net Bid Ask
OI IV LTP
art in OI e Chng Price Price
18,760 - 1 - 2,224.05 45 2,246.80 2,275.10
54,380 60 3 - 1,810.00 89.85 1,787.00 1,800.00
39,880 - 1 - 1,326.40 44 1,328.10 1,370.95
270,160 1,140 379 11 918.8 48.95 913.4 925.25
621,220 1,260 503 12.55 547.15 31.8 546.75 560.7
653,520 80 4,773 12.96 277.05 21.5 277.05 277.4
417,680 7,680 3,159 12.82 110 13.15 106.5 107.3
225,720 8,100 1,518 12.79 35 4.4 32.05 35
90,760 1,380 185 12.91 9.3 -0.5 9.05 9.5
79,760 40 41 14.75 5.3 -0.8 5.55 6.2
19,980 - 6 16.92 4 1.4 2.55 3.8
7,020 -80 12 18.13 2.1 -0.55 2.3 3
3,700 320 39 22.03 3.9 0.25 3.4 3.9
Tot 2,707,240 ###
al

expiry :29 nov 2018.

0.839506173
Strike Bid Ask Ask Net Volum Chng
LTP IV
Price Price Price Qty Chng e in OI
23500 29.35 30.55 20 -8 29.6 23.92 945 8,700
24000 54 55.45 100 -14.7 54 22.6 1,452 5,320
24500 95.4 100.45 40 -24.6 96.1 21.19 1,767 -480
25000 161 170 420 -39.25 170 19.84 3,502 8,000
25500 297.05 306.95 20 -41.25 307.9 19.11 2,946 6,120
26000 505 517.55 60 -55.4 513.35 18.14 1,566 1,660
26500 815.35 849.4 20 -62.95 845 19.01 12 100
27000 1,240.00 1,256.05 20 -104.2 1,245.00 20.2 7 -
27500 1,697.30 1,746.35 40 -69.05 1,725.00 24.19 2 -
28000 2,201.65 2,254.85 20 -68.65 2,215.00 28.27 11 180
28500 2,639.45 2,985.05 20 - 2,781.80 - - -
29000 2,991.90 3,477.85 80 - 3,124.85 - - -
29500 3,660.85 4,004.50 20 -70 3,700.00 39.93 2 -
###

120 140 260 600

 C
h
OI
ar
t
182,480
371,560
464,860
880,380
361,780
233,740
433,440
38,960
76,460
69,520
20,380
8,780
7,180
3,599,340 T
ot
al

###
BANK NIFTY FUTURES : 25762
BULL CALL SPREAD
BUY/SELL QTY PRICE
BANK NIFTY 25500 CE BUY 20 547
BANK NIFTY 26000 CE SELL 20 277
NET PREMUIM PAID 270 Rs. 5400
BREAKEVEN PRICE: CALL BUY STRIKE +NET PREMIUM: 25770
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT ON 25500 CE 1500 30000
LOSS ON 26000CE -1000 -20000
NET PRICE 500 10000

PROFITS 4600 PROFITS WILL FREEZE AT 26000 LE

MAXIMUM PROFITS WILL ALWAYS BE Rs. 4600/

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

LOSSOF 25500 CE 0 0
LOSS ON 26000 CE 0 0
NET PRICE 0 0

LOSS 5400 TOTAL LOSSES WILL FREEZE AT PR

MAX LOSSES
NIFTY AT 11700 AND BELOW 0 75 0 11900CE
0 75 0 11700CE
0

NET LOSS TAKING PREMIUM

PAID INTO ACCOUNT -7046 EVEN IF MARKET FALLS

BREAKEVEN POINT: 11793(STRIKE PRICE PLUS PREMIUM)

WILL FREEZE AT 26000 LEVELS AND DESIPTE INCREASE IN UNDERLINE PRICE THERE WILL BE NO INCREASE IN PROFITS.

SSES WILL FREEZE AT PREMIUM PAID AND DEPSITE BANK NIFTY GOING DOWN THERE WILL BE NO FUTHER DRAWDROWNS.
EVEN IF MARKET FALLS LOSSES ARE CAPPED
BANK NIFTY FUTURES : 25762
BULL PUT SPREAD
BUY/SELL QTY PRICE
BANK NIFTY 26000 PE SELL 20 -513
BANK NIFTY 25500 PE BUY 20 306
NET PREMUIM RECEIVED 207 Rs. 4140
BREAKEVEN PRICE: PUT SELL STRIKE PRICE -NET PREMIUM: 25793
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT ON 26000 PE 0 0
PROFIT ON 25500 PE 0 0
NET PRICE 0 0

PROFITS 4140 PROFITS WILL FREEZE A

MAXIMUM PROFITS WILL ALWAYS BE Rs. 4140/

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

LOSS ON 26000 PE -1000 -20000
PROFIT ON 25500 PE 500 10000
NET PRICE -500 -10000

LOSS -5860 TOTAL LOSSES WILL FR

PROFITS WILL FREEZE AT 26000 LEVELS AND DESIPTE INCREASE IN UNDERLINE PRICE THERE WILL BE NO INCREASE IN PROFITS.

TOTAL LOSSES WILL FREEZE AT LOWER STRIKE PUT AND DEPSITE BANK NIFTY GOING DOWN THERE WILL BE NO FUTHER DRAWDROWNS
ASE IN PROFITS.

O FUTHER DRAWDROWNS.
BANK NIFTY FUTURES VALUE: 25762
BULL CALL RATIO BACKSPREAD
BUY/SELL QTY PRICE
BANK NIFTY 25500 CE SELL 20 547
BANK NIFTY 26000 CE BUY 40 277 554

NET PREMUIM PAID 7 Rs.

BREAKEVEN PRICE: HIGHER CALL STRIKE +PREMIUM OF LOWER CALL STRIKE
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
LOSS ON 25500 CE -1500 -30000
PROFIT ON 26000CE 2000 40000
NET PRICE 500 10000

PROFITS 9860

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

LOSSOF 25500 CE 0 0
LOSS ON 26000 CE 0 0
NET PRICE 0 0

LOSS -7

BANK NIFTY CLOSING @26000 AMOUNT (Rs)

LOSSOF 25500 CE -500 -10000
LOSS ON 26000 CE 0 0
NET PRICE -500 -10000

LOSS -10140
 140
26547
PROFITS WILL INCREASE AFTER BREAKEVEN POINT OF 26547 IS CROSSED .

TOTAL LOSSES WILL FREEZE AT PREMIUM PAID AND DEPSITE BANK NIFTY GOING DOWN THERE WILL BE NO FUTHER DRAW

THERE WILL BE A LIMITED LOSS BETWEEN 25500-26500 WHILE THE MAXIMUM LOSS WILL BE AT 26000 LEVELS.
THERE WILL BE NO FUTHER DRAWDROWNS.

LL BE AT 26000 LEVELS.
BANK NIFTY FUTURES : 25762
BEAR PUT SPREAD
BUY/SELL QTY PRICE
BANK NIFTY 26000 PE BUY 20 513
BANK NIFTY 25500 PE SELL 20 -306
NET PREMUIM PAID 207 Rs. 4140
BREAKEVEN PRICE: PUT BUY STRIKE PRICE -NET PREMIUM: 25793
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
LOSS ON 26000 PE 0 0
PROFIT ON 25500 PE 0 0
NET PRICE 0 0

LOSS 4140 TOTAL LOSSES WILL BE ONLY AT THE N

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

PROFIT ON 26000 PE 1000 20000
LOSS ON 25500 PE -500 -10000
NET PRICE 500 10000

PROFIT 5860 TOTAL PROITS WILL FREEZE AT LOWER

SSES WILL BE ONLY AT THE NET PREMIUM PAID AND DEPSITE BANK NIFTY GOING UP LOSSES WAS ONLY TILL Rs.4140

OITS WILL FREEZE AT LOWER STRIKE PUT AND DEPSITE BANK NIFTY GOING DOWN THERE WILL BE NO INCREASE IN PROFITS.
IN PROFITS.
BANK NIFTY FUTURES : 25762
BEAR CALL SPREAD
BUY/SELL QTY PRICE
BANK NIFTY 26000 CE SELL 20 -547
BANK NIFTY 25500 CE BUY 20 277
 NET PREMUIM RECEIVED -270 Rs.
BREAKEVEN PRICE: CALL BUY STRIKE PRICE +NET PREMIUM:
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT ON 26000 CE 1000 20000
LOSS ON 25500 PE -1500 -30000
NET PRICE -500 -10000

LOSSES -4600
MAXIMUM LOSS WILL BE AT Rs. 4600/

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

LOSSES ON 26000 CE 0 0
LOSSES ON 25500 PE 0 0
NET PRICE 0 0

PROFITS 5400

NIFTY FUTURES VALUE: 11622

RS QTY
PREMIUM RECEIVED 220 75 11500CE
PREMIUM AID 67.25 75 11800CE

NET RECEIVED 152.75

NIFTY @11500
MAX PROFIT 0 75 11500CE
0 75 11800CE

ADD PEMIUM RECEIVED 152.75 MAXIMUM PROFITES WILL BE CAP

NET PROFIT 152.75 THERE WILL BE NO ADDITION TO
NIFTY@11800 -300 75 11500CE
0 75 11800CE

ADD PEMIUM RECEIVED 152.75

NET LOSS -147.25 MAXIMUM LOSSES WILL BE CAPP

NIFTY @11650 -150 75 11500CE

0 75 11800CE

ADD PEMIUM RECEIVED 152.75

MAX LOSS 2.75 ABOVE 11652 THERE WILL BE LOS
 -5400
25770
AMOUNT (Rs)

LOSSES WILL FREEZE AT 26000 LEVELS AND DESIPTE INCREASE IN UNDERLINE PRICE THERE WILL BE NO INCREASE IN LOSS.

AMOUNT (Rs)

TOTAL PROFITS WILL FREEZE AT LOWER STRIKE CALL AND TOTAL PREMIUM RECEIVED WILL BE MAXIMUMM PROFITS.

M PROFITES WILL BE CAPPED AT 11500 AND EVEN IF PRICES FALL

LL BE NO ADDITION TO PROFITS.
M LOSSES WILL BE CAPPED AT 11800 AND EVEN TOUGH PRICES MOVE UP .

652 THERE WILL BE LOSSES AND BELOW 11652 THERE WILL BE PROFITS.
 NO INCREASE IN LOSS.

XIMUMM PROFITS.
BANK NIFTY FUTURES VALUE: 25762
BEAR PUT RATIO BACKSPREAD
BUY/SELL QTY
BANK NIFTY 26000 PE SELL 20
BANK NIFTY 25500 PE BUY 40
NET PREMUIM PAID
BREAKEVEN PRICE: LOWER PUT STRIKE -PREMIUM OF PUT STRIKE PURSHASED
BANK NIFTY CLOSING @27000
LOSS ON 26000 PE
LOSS ON 25500 PE
NET PRICE

LOSS

BANK NIFTY CLOSING @24500

LOSS ON 26000 PE
PROFITS ON 25500 PE
NET PRICE

PROFIT

BANK NIFTY CLOSING @25500

LOSS ON 26000 PE
LOSS ON 25500 PE
NET PRICE

LOSS
LESS PREMUIM PAID 2550
NET PROFIT -17550

NIFTY@11800 0 75 0
0 150 0
0
LESS PREMUIM PAID 2550
NET LOSS -2550
PRICE
513
305.8
 98.6 Rs. 1972
M OF PUT STRIKE PURSHASED 24901
AMOUNT (Rs)
0 0
0 0
0 0

-1972 WHEN BANK NIFTY GOES ABOVE 26000 LEVELS , TOTAL LOSS WILL BE ONLY THE PREMIUM VALUE INVE

AMOUNT (Rs)
-1500 -30000
2000 40000
500 10000

8028 AFTER BANK NIFTY STARTS TO TRADE BELOW THE BREAKEVEN PRICE THERE IS A SCOPE FOR UNLIMITE

AMOUNT (Rs)
-500 -10000
0 0
-500 -1000

-11972 THERE WILL BE A LIMITED LOSS BETWEEN 25500-26000 WHILE THE MAXIMUM LOSS WILL BE AT 25500
MAXIMUM LOSS IS @ 11600 ,

11800PE
11600PE

BETWEEEN 11400 AND 11800 THERE WILL BE LOSSES.

HE PREMIUM VALUE INVESTED.

E IS A SCOPE FOR UNLIMITED PROFITS.

M LOSS WILL BE AT 25500 LEVELS.

BANK NIFTY FUTURES : 25762
BUTTERFLY WITH CALL
BUY/SELL QTY PRICE
BANK NIFTY 26000 CE BUY 20 277
BANK NIFTY 25500 CE SELL 40 -547
BANK NIFTY 25000 CE BUY 20 920
NET PREMUIM PAID 103 Rs. 2060
BREAKEVEN PRICE: LOWER CALL STRIKE PRICE +NET PREMIUM: 25103 LOWER BREAKEVEN
HIGHER CALLSTRIKE -NET PREMIUM 25897 UPPER BREAKEVEN
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT ON 26000 CE 1000 20000
LOSS ON 25500 CE -3000 -60000
PROFIT ON 25000 CE 2000 40000
NET PRICE 0 0

LOSS 2060 TOTAL LOSSES WILL BE ONLY AT THE

BANK NIFTY CLOSING @25500 AMOUNT (Rs)

LOSS ON 26000 CE 0 0
LOSS ON 25500 CE 0 0
PROFIT ON 25000 CE 500 1000
NET PRICE 500 10000

PROFIT 7940 MAXIMUM PROFITS WILL BE WHEN

POINTS THE BUTTERFLY WILL BE PRO

BANK NIFTY CLOSING @24000 AMOUNT (Rs)

LOSS ON 26000 CE 0 0
LOSS ON 25500 CE 0 0
LOSS ON 25000 CE 0 0
NET PRICE 0 0

LOSS 2060 TOTAL LOSSES WILL BE ONLY AT THE

THIS IS A NEUTAL STRATEGY USED FOR RANGE BOUND MARKETS AND IS UNDERTAKEN DURING LAST FEW DAYS LEIFT FOR EX
 LOWER BREAKEVEN
UPPER BREAKEVEN

SSES WILL BE ONLY AT THE NET PREMIUM PAID AND DEPSITE BANK NIFTY GOING UP LOSSES WAS ONLY TILL PREMIUM PAID

M PROFITS WILL BE WHEN BANK NIFTY CLOSES AT THE MIDDLE STRIKE WHICH HAS BEEN SOLD AND WITHIN UPPER AND LOWER BREAKEV
HE BUTTERFLY WILL BE PROFITABLE.

SSES WILL BE ONLY AT THE NET PREMIUM PAID AND DEPSITE BANK NIFTY GOING DOWNLOSSES WAS ONLY TILL PREMIUM PAID

T FEW DAYS LEIFT FOR EXPIRY.

EMIUM PAID

PER AND LOWER BREAKEVEN

PREMIUM PAID
BANK NIFTY FUTURES : 25762
BUTTERFLY WITH PUT
BUY/SELL QTY PRICE
BANK NIFTY 26000 PE BUY 20 513
BANK NIFTY 25500 PE SELL 40 -306
BANK NIFTY 25000 PE BUY 20 176
NET PREMUIM PAID 77 Rs. 1540
BREAKEVEN PRICE: LOWER PUT STRIKE PRICE +NET PREMIUM: 25077 LOWER BREAKEVEN
HIGHER PUT STRIKE -NET PREMIUM 25923 UPPER BREAKEVEN
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
LOSS ON 26000 PE 0 0
PROFIT ON 25500 PE 0 0
LOSS ON 25500 PE 0
NET PRICE 0 0

LOSS -1540 TOTAL LOSSES WILL BE ONLY AT THE NET PRE

BANK NIFTY CLOSING @25500 AMOUNT (Rs)

PROFIT ON 26000 PE 500 10000
LOSS ON 25500 PE 0 0
LOSS ON 25500 PE 0
NET PRICE 500 10000

PROFIT 8460 MAXIMUM PROFITS WILL BE WHEN BANK NIF

POINTS THE BUTTERFLY WILL BE PROFITABLE

BANK NIFTY CLOSING @24000 AMOUNT (Rs)

PROFIT ON 26000 PE 2000 40000
LOSS ON 25500 PE -3000 -60000
PROFIT ON 25000 PE 1000 20000
NET PRICE 0 0

LOSS -1540 TOTAL LOSSES WILL BE ONLY AT THE NET PRE

THIS IS A NEUTAL STRATEGY USED FOR RANGE BOUND MARKETS AND IS UNDERTAKEN DURING LAST FEW DAYS LEIFT FOR EX
E ONLY AT THE NET PREMIUM PAID AND DEPSITE BANK NIFTY GOING UP LOSSES WAS ONLY TILL Rs1540

WILL BE WHEN BANK NIFTY CLOSES AT THE MIDDLE STRIKE WHICH HAS BEEN SOLD AND WITHIN UPPER AND LOWER BREAKEVEN
LY WILL BE PROFITABLE.

E ONLY AT THE NET PREMIUM PAID AND DEPSITE BANK NIFTY GOING DOWNLOSSES WAS ONLY TILL Rs1540

FEW DAYS LEIFT FOR EXPIRY.

OWER BREAKEVEN
BANK NIFTY FUTURES : 25762
CONDORS WITH CALL
BUY/SELL QTY PRICE
BANK NIFTY 25500 CE BUY 20 547
BANK NIFTY 26000 CE SELL 20 277
BANK NIFTY 26500CE SELL 20 108
BANK NIFTY 27000 CE BUY 20 34
NET PREMUIM PAID 196 Rs. 3920
BREAKEVEN PRICE: LOWER CALL STRIKE PRICE +NET PREMIUM: 25696 LOWER BREAKEVEN
HIGHER CALLSTRIKE -NET PREMIUM 26804 UPPER BREAKEVEN
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT ON 25500 CE 1500 30000
LOSS ON 26000 CE -1000 -20000
LOSS ON 26500CE -500 -10000
POFIT ON 27000 CE 0 0
NET PRICE 0 0
LOSS -3920 TOTAL LOSSES WILL BE ONLY AT THE NET PR

BANK NIFTY CLOSING @26500 AMOUNT (Rs)

PROFIT ON 25500 CE 1000 20000
LOSS ON 26000 CE -500 -10000
LOSS ON 26500CE 0 0
POFIT ON 27000 CE 0 0
NET PRICE 500 10000
PROFIT 6080 MAXIMUM PROFITS WILL BE WHEN BANK N
POINTS THE CONDOR WILL BE PROFITABLE.

BANK NIFTY CLOSING @24000 AMOUNT (Rs)

LOSS ON 25500 CE 0 0
LOSS ON 26000CE 0 0
LOSS ON 26500 CE 0 0
LOSS ON 27000 CE 0 0
NET PRICE 0 0
LOSS -3920 TOTAL LOSSES WILL BE ONLY AT THE NET PR

THIS IS A NEUTAL STRATEGY USED FOR RANGE BOUND MARKETS AND IS UNDERTAKEN DURING LAST FEW DAYS LEIFT FOR EX
 LOWER BREAKEVEN
UPPER BREAKEVEN

SSES WILL BE ONLY AT THE NET PREMIUM PAID IN CASE BANK NIFTY MOVES ABOVE UPPER OR LOWER BREAKEVEN POINTS

M PROFITS WILL BE WHEN BANK NIFTY CLOSES BETWEEN THE SECOND AND THIRD STRIKE WHICH HAS BEEN SOLD AND WITHIN UPPER AN
HE CONDOR WILL BE PROFITABLE.

SSES WILL BE ONLY AT THE NET PREMIUM PAID IN CASE BANK NIFTY MOVES ABOVE UPPER OR LOWER BREAKEVEN POINTS

ING LAST FEW DAYS LEIFT FOR EXPIRY.

VEN POINTS

LD AND WITHIN UPPER AND LOWER BREAKEVEN

VEN POINTS
BANK NIFTY FUTURES : 25762
IRON CONDORS WITH CALL
BUY/SELL QTY PRICE
BANK NIFTY 26500 CE BUY 20 108
BANK NIFTY 26000 CE SELL 20 -277
BANK NIFTY 25000PE BUY 20 -305
BANK NIFTY 25500 PE SELL 20 175
NET PREMUIM RECEIVED -299 Rs. -5980
BREAKEVEN PRICE: LOWER CALL STRIKE PRICE +NET PREMIUM: 26299 UPPER BREAKEVEN
HIGHER PUT STRIKE +NET PREMIUM 25201 UPPER BREAKEVEN
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT BANK NIFTY 26500 CE 500 10000
LOSS BANK NIFTY 26000 CE -1000 -20000
LOSS BANK NIFTY 25000PE 0 0
PROFIT BANK NIFTY 25500 PE 0 0
NET PRICE -500 -10000
LOSS -4020 TOTAL LOSSES WILL BE CAPPED AT THE O
500 POINTS LESS PREMIUM RECEIVED SO

BANK NIFTY CLOSING @26000 AMOUNT (Rs)

PROFIT BANK NIFTY 26500 CE 0 0
LOSS BANK NIFTY 26000 CE 0 0
LOSS BANK NIFTY 25000PE 0 0
PROFIT BANK NIFTY 25500 PE 0 0
NET PRICE 0 0
LOSS 5980 MAXIMUM PROFITS WILL BE WHEN BANK
POINTS THE CONDOR WILL BE PROFITABL

BANK NIFTY CLOSING @24000 AMOUNT (Rs)

PROFIT BANK NIFTY 26500 CE 0 0
LOSS BANK NIFTY 26000 CE 0 0
PROFIT BANK NIFTY 25000PE 1000 20000
LOSS BANK NIFTY 25500 PE -1500 -30000
NET PRICE -500 -10000
LOSS -4020 TOTAL LOSSES WILL BE CAPPED AT THE O
500 POINTS LESS PREMIUM RECEIVED SO
THIS IS A NEUTAL STRATEGY USED FOR RANGE BOUND MARKETS AND IS UNDERTAKEN DURING LAST FEW DAYS LEIFT FOR EX
 UPPER BREAKEVEN
UPPER BREAKEVEN

SSES WILL BE CAPPED AT THE OTM STRIKE OF CALL AND PUT PURSHASED AND LOSSES IN THIS CAPPED AT 500 POINTS
TS LESS PREMIUM RECEIVED SO MAXIMUM LOSS WILL BE 201 POINTS.

M PROFITS WILL BE WHEN BANK NIFTY CLOSES BETWEEN THE 25500 AND 26000 WHICH HAS BEEN SOLD AND WITHIN UPPER AND LOWER
HE CONDOR WILL BE PROFITABLE.

SSES WILL BE CAPPED AT THE OTM STRIKE OF CALL AND PUT PURSHASED AND LOSSES IN THIS CAPPED AT 500 POINTS
TS LESS PREMIUM RECEIVED SO MAXIMUM LOSS WILL BE 201 POINTS.
G LAST FEW DAYS LEIFT FOR EXPIRY.
WITHIN UPPER AND LOWER BREAKEVEN
 BANK NIFTY FUTURES : 25762
CALENDAR SPREAD
BUY/SELL QTY
22-Nov BANK NIFTY 26000 CE SELL 20
29-Nov BANK NIFTY 26000 CE BUY 20
 NET PREMUIM PAID
BREAKEVEN PRICE: EXCAT CANNOT BE DETERMINED AS GREEKS C

BANK NIFTY CLOSING @27000

22-Nov LOSS BANK NIFTY 26000 CE
29-Nov PROFITS BANK NIFTY 26000 CE
NET PRICE

LOSS
MAXIMUM LOSSES WILL ALWAYS BE THE PREMIUM PAID.

BANK NIFTY CLOSING @26000

22-Nov LOSS BANK NIFTY 26000 CE
29-Nov PROFITS BANK NIFTY 26000 CE
NET PRICE

LOSS
PRICE
-190
277
 87 Rs. 1740
NNOT BE DETERMINED AS GREEKS COME INTO PLAY
25800 ROUGH BREAKEVEN UPPER POINT
26200 ROUGH BREAKEVEN LOWER POINT
AMOUNT (Rs)
-1000 -20000
1000 20000
0 0

-1740 AS BANK NIFTY MOVES OUTSIDE THE UPPER OR LOWER BEAKEVEN POINTS
THE TOTAL LOSSES WILL BE ONLY THE PREMIUM PAID.

AMOUNT (Rs)
0 0
200 4000
200 4000

2260 HIGHEST PROFITS WILL BE AT 26000 ON THE EXPIRY OF 22 NOV CONTRACT AN

THE EXCAT VALUE IS SUBJECT TO GREEK AND CANNOT BE DETERMINED.
R BEAKEVEN POINTS

F 22 NOV CONTRACT AND VALUE OF 200 IS TAKEN AS APPROXIMATE VALUE

BE DETERMINED.
 BANK NIFTY FUTURES : 25762
CALENDAR SPREAD
BUY/SELL QTY PRICE
22-Nov BANK NIFTY 25000 PE SELL 20 -105
29-Nov BANK NIFTY 25000 PE BUY 20 175
 NET PREMUIM PAID 70 Rs. 1400
BREAKEVEN PRICE: EXCAT CANNOT BE DETERMINED AS GREEKS COME INTO PLAY
25200 ROUGH BREAKEVEN UPPER POINT
24800 ROUGH BREAKEVEN LOWER POINT
BANK NIFTY CLOSING @27000 AMOUNT (Rs)
22-Nov LOSS BANK NIFTY 25000 PE 0 0
29-Nov LOSS BANK NIFTY 25000 PE 0 0
NET PRICE 0 0

LOSS -1400 AS BANK NIFTY MOVES O

MAXIMUM LOSSES WILL ALWAYS BE THE PREMIUM PAID. THE TOTAL LOSSES WILL

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

22-Nov LOSS BANK NIFTY 25000 PE 0 0
29-Nov PROFITS BANK NIFTY 25000 PE 200 4000
NET PRICE 200 4000

PROFITS 2600 HIGHEST PROFITS WILL B

THE EXCAT VALUE IS SUB
 S COME INTO PLAY
REAKEVEN UPPER POINT
REAKEVEN LOWER POINT

AS BANK NIFTY MOVES OUTSIDE THE UPPER OR LOWER BEAKEVEN POINTS

THE TOTAL LOSSES WILL BE ONLY THE PREMIUM PAID.

HIGHEST PROFITS WILL BE AT 25000 ON THE EXPIRY OF 22 NOV CONTRACT AND VALUE OF 200 IS TAKEN AS APPROXIMATE VALUE
THE EXCAT VALUE IS SUBJECT TO GREEK AND CANNOT BE DETERMINED.
PPROXIMATE VALUE
 BANK NIFTY FUTURES 25762
CE PE
THREE SCENARIOS 25500 25500

TOTAL INVESTEMNT 547 -305

SO EFFICETIVELY SYNTHEHIC FUTURES ARE LONG AS STRIKE PLUS PREMIUM PAID(25500+242)=25742.
BANK NIFTY CLOSES ON 26000 ON EXPIRY. 500 0

BANK NIFTY CLOSES ON 25000 ON EXPIRY. 0 -500

BANK NIFTY CLOSES ON 25700 ON EXPIRY. 200 0

WHAT IS NOTICED HERE THAT LONG ATM CALL AND SHORT ATM PUT IS NOTHING BUT SYNTHETHIC FUTURES.

ATM CALL LESS ATM PUT EQULAS LONG FUTURES

ATM CALL-SGORT FUTURES EQULAS LONG PUT

LONG FUTURES

IN THE MONEY IN THE MONEY

LONG CALL SQUARE SHORT FUTURES

SHORT CALL LONG FUTURES
LONG PUT LONG FUTURES
SHORT PUT SHORT FUTURES
NET PREMIUM PAID PROFIT/LOSS PROFITS AS PER FUTURE VALUE
/RECEIVED ON POSITIONS

242
 500 258 238 20 0

-500 -742 -762 -762 20 0

200 -42 -62 20 0

SYNTHETHIC FUTURES.

SHORT PUT

SHORT FUTURES

SHORT CALL
LONG FUTURES
BANK NIFTY FUTURES: 25762
CALL PUT ARBITAGE FORMULA:
LONG CALL -LONG PUT +SHORT FUTURES =0
 26047 -305 -25762 = -20 (AS PER THE FORMULA IT SHOU

SINCE THERE WAS A MISPRICING ONE CAN BUY FUTUES AND SELL A LONG CALL AND BUY A LONG PUT IN THOERY
BUT IN PRACTICE THERE ARE SPREADS , BROKERAGES AND OTHER GOVERNMENT EXOENSES LIKE STT , AND STAMP

CE STRIKE
25000 26000 @ 20

29000 @ 3000

DAY OF EXPIRY

31000 5000

26000 0
(AS PER THE FORMULA IT SHOULD BE ZERO BUT IS SHOWING A LOSS OF Rs.20 PER LOT SO THERE IS MISPRICING)

ND BUY A LONG PUT IN THOERY YOU WILL MAKE Rs.20 A LOT '
EXOENSES LIKE STT , AND STAMP DUTY.

SELL @ 29000
3000

-2000
3000

3000
3000
BANK NIFTY FUTURES:25762
PRICE RS. QTY
BUY BANK NIFTY FUTURES 25762 20
SELL BANK NIFTY 29.11.18 26000 CE 277.5 -20
NET PREMIUM RECEIVED: Rs. 5540
 BREAKEVEN PRICE 25484.5

BANK NIFTY CLOSING @27000 AMOUNT (Rs)

PROFIT ON BANK NIFTY FUTURES 1238 24760
LOSS ON 26000 CE -1000 20000
NET PRICE 238 4760

PROFITS 10300

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

LOSS ON BANK NIFTY FUTURES -762 -15240
PROFIT OF 26000CE 0 0
NET PRICE -762 -15240

LOSS -9700
AMOUNT (Rs)

MAX PROFITS WILL FREEZE AT 26000 LEVELS AND Rs.10300 WILL BE THE MAXIMUM PROFIT

AMOUNT (Rs)

AFTER THE BREAKEVEN OF 25485(FUTURES PRICE-STRIKE PRICE OF THE CALL THERE WILL BE LOSSES INCREASING
WHEN BANK NIFTY KEEPS ON FALLING.
S INCREASING
BANK NIFTY FUTURES:25762
PRICE RS. QTY
BUY BANK NIFTY FUTURES 25762 20
BUY BANK NIFTY 29.11.18 25500 PE 305.8 20
NET PREMIUM PAID: Rs. 6116
BREAKEVEN PRICE 26068 26067.8
 BANK NIFTY CLOSING @27000 AMOUNT (Rs)
PROFIT ON BANK NIFTY FUTURES 1238 24760
LOSS ON 25500 PE 0 0
NET PRICE 1238 24760

PROFITS 18644 ABOVE THE BREAK EVEN POINTS THE PROFITS W

BANK NIFTY CLOSING @25000 0 AMOUNT (Rs)

LOSS ON BANK NIFTY FUTURES -762 -15240
PROFIT OF 25500 PE 500 10000
NET PRICE -262 -5240

LOSS -11356 LOSSES WILL FREEZE AT Rs.11356 AT 25500 AN

LONG CALL LESS LONG PUT EQUAL LONG FUTURES

LONG FUUTRES PLUS LONG PUT EQUALS LONG CALL

QTY
VITHUN RELIANCE 500

MARCH PUT 1200

ELECTIONS: 1500
NIFTY FUTURES:11722
PRICE RS. QTY 1000
BUY NIFTY FUTURES 11722 75
BUY 11500PE 66 75

BREAKEVEN PRICE 11788

NIFTY@12000
NIFTY FUTURES 12000
BUY 11500PE 0
NET PRICE 12000
PROFITS 212 MAX PROFITS WILL GO ON INCREASING AS THE UNDELINE

NIFTY @11500
NIFTY FUTURES 11500
NIFTY CALL 0
NET PRICE 11500

LOSS -288 LOSSES WILL BE CAPPED AT (288) AT 11500 AND EVEN IF P

NT BE MORE THAN 288 POINTS.

1 LNOG FUTURES OR SAME QUANITY IN CASH

2 SHORT CALL

1300 46
-40

6
VEN POINTS THE PROFITS WILL GO ON INCREASING WITH THE INCREASE IN UNDERLINE.

AT Rs.11356 AT 25500 AND THERE WILL NO INCREASE IN LOSSES DESPITE FALL IN NUDERLINE PRICES.

LONG FUTURES
CALL PUT PARITY EQUATION:
LONG CALL

RS RS
1100

13.5 6750

200
EASING AS THE UNDELINE MOVES UP.

) AT 11500 AND EVEN IF PRICES MOVES DOWN LOSS WILL

SHARES
RELIANCE 500 1254 627000
CE
1260 35 17500

609500

3000

20500 3.363413
BANK NIFTY FUTURES:25762
PRICE RS. QTY
BUY BANK NIFTY FUTURES 25762 20
BUY BANK NIFTY 29.11.18 25500 PE 305.8 20
SELL BANK NIFTY 29.11.18 26000 CE 277.5 20 -28.3
NET PREMIUM PAID: Rs. 566
 BREAKEVEN PRICE 25791

BANK NIFTY CLOSING @27000 AMOUNT (Rs)

PROFIT ON BANK NIFTY FUTURES 1238 24760
LOSS ON 25500 PE 0 0
LOSS ON 26000CE -1000 20000
NET PRICE 238 4760

PROFITS 4194 PROFITS WILL FREEZE AT 26000 LEVELS AND DE

BANK NIFTY CLOSING @25000 AMOUNT (Rs)

LOSS ON BANK NIFTY FUTURES -762 -15240
PROFIT OF 25500 PE 500 10000
LOSS ON 26000 CE 0 0
NET PRICE -262 -5240

LOSS -5806 LOSSES WILL FREEZE AT Rs.5806 AT 25500 AND

CE
RELIANCE 1240 43 BUY

1300 17 SOLD

26

1400 160 PROFIT

-100 LOSS

60 26

1300 17 100

1360 6 -40
11 60
AT 26000 LEVELS AND DESIPTE INCREASE IN UNDERLINE PRICE THERE WILL BE NO INCREASE IN PROFITS.

AT Rs.5806 AT 25500 AND THERE WILL NO INCREASE IN LOSSES DESPITE FALL IN NUDERLINE PRICES.

34
49
CALL LESS PUT (=) FUTURES

CALL LESS PUT LESS FUTURES EQUAL 0

15700 15700 16400
BOTH CALL AND PUT SHULD BE OFF THE SAME STRIKE

FUTURES LESS CALL PLUS PUT EQUAL 0

16400 15700 15700
EXPIRY CALL PUT FUTURES

17000 1300 0 -600

14500 0 -1200 1900
15700 0 0 700

17000 -1300 0 600

14500 0 1200 -1900
15700 0 0 -700
700
700
700

-700
-700
-700
 charachereristics

bull bear

high high higher low lower high lower low

low Vix high Vix

small size of bars / candles big size of bars/candles

near 6 month /one year high near 6 mothns to 1 year low.

50 sma below 50 sma

bull call spread bull put spread

otm strikes when ivp>70

bear put spread bear call spread

otm strikes when ivp>70

market nifty bank

nifty energy
nifty it
bars/candles

thns to 1 year low.

with in 50 sma

s when ivp>70

s when ivp>70
 ON EXPIRY DAY
CE 500 520 550

550 9.35 0 0 0
570 4.9 0 0 0
0 0 0
4.45 -4.45 -4.45 -4.45
-4.45 -4.45 -4.45

PE 500 520 550

550 24.5 50 30 0
-570 40.05 -70 -50 -20
-20 -20 -20
15.55 15.5 15.5 15.5
-4.5 -4.5 -4.5

NIFTY
CE 15200 15500
15700 192 -1 -192 0 0
15900 100 2 200 0 0
0 0
-8 -8 -8
-8 -8

15500 15700
CE
15700 89 1 89 0 0
15900 25 -2 -50 0 0
16100 5.4 1 5.4 0 0
0 0
44.4 -44.4 -44.4
-44.4 -44.4
35600

35800 35800 ce otm

35900
 560 570 600

10 20 50
0 0 -30
10 20 20
-4.45 -4.45 -4.45
5.55 15.55 15.55

560 570 600

0 0 0
-10 0 0
-10 0 0
15.5 15.5 15.5
5.55 15.5 15.5

15700 15800 15900 16000 16100 16200 16500

0 -100 -200 -300 -400 -500 -800
0 0 0 200 400 600 1200
0 -100 -200 -100 0 100 400
-8 -8 -8 -8 -8 -8 -8
-8 108 -208 -108 0 92 392

15800 15900 16000 16100 16500

100 200 300 400 800

0 0 -200 -400 -1200
0 0 0 0 400
100 200 100 0 0
-44.4 -44.4 -44.4 -44.4 -44.4
55.6 155.6 55.6 -44.4 -44.4
gamma hulk on the expiry day
 Option Strategy Cheat sheet

greeks
1 bull call spread delta(+) theta(-)

when money flows with strong momentum

along with strong volumes and increase in futures open interest
breaking important weekly and monthly ressitance levels
or taking support at previous weekly resistance levels

2 bull put sread delta(+) theta(+)

when ivp>65
put coal india example
sell otm puts 155
buy far otm puts 150

this is to collect theta as options premium

are high with the strict stop loss of the underline
near to strikes of the put you are selling.

3 bull call ratio back srpead delta(+) theta (-)

min 20 days remaining to expiry

postion to be made in a big gap down
no reveral then at close at the lowof the day

sell one lot of higher premium call -500

buy two lots of lower premium call 300

maximum holding period is of 4 days.

greeks
4 bear put spread delta(-) theta(-)

when money flows out with strong momentum

along with strong volumes and increase in futures open interest
breaking important weekly and monthly support levels
or taking resistance at previous support resistance levels
5 bear call spread delta(-) theta(+)
when ivp>65
call bank nifty
sell otm call 36000
buy far otm calls 36500

this is to collect theta as options premium

are high with the strict stop loss of the underline
near to strikes of the call you are selling.

6 bear put ratio back srpead delta(-) theta (-)

min 20 days remaining to expiry

postion to be made in a big gap up i
at close near the high of the day

sell one lot of higher premium put

buy two lots of lower premium put

maximum holding period is of 4 days.

Non Directionl Strategy

7 Butterfly strategy

Range bound market

strategy to be done near tothe expiry
where you are expecting the close to be near to the middle strikes
you are selling options.

15900 1 call highest premium

16100 -2 call midlle strike, middle preium
16300 1 call lowest premium

butterfly can be done with either a call or a put

the results will be the same if u use the same strikes
in call or put.

The differnce between 1&2 strikes , should be the same as strike 2&3
 8 Condor

Range bound market

strategy to be done near tothe expiry
where you are expecting the close to be near to the middle strikes
you are selling options.

15900 1 1 call highest premium

16000 2 -1 call midlle strike, middle preium
16100 3 -1 call midlle strike, middle preium
16200 4 1 call lowest premium

condor can be done with either a call or a put

the results will be the same if u use the same strikes
in call or put.
The differnce between 1&2 strikes , should be the same as strike 3&4.

9 Iron Condor

when you expect a bigger range where the underline moves

during the expiry , here the max profit is lower the maximum loss
but the probillity is much higher that the trade will remain
in profit.

This is nothing but OTM strikes of bull put spread & bear call spread.

16800 1 far otm call

16400 -1 otm call
15900 nifyclosing
15600 -1 otm put
15200 1 far otm put.

10 Calendar spread

different expiry with same strike of call or put

range bound expecttion that nifty will close at 15800

-1 15800 call june 17 expiry

1 15800 call june 24 expiry

you will make money near the 15800 range , max loss is defined to the net premium paid.
gamma (+) vega(+)

gamma(-) vega(-)

current price Rs.160 in the chart strong support at 155

gamma(+) vega(+)

600

gamma (+) vega(+)

gamma(-) vega(-)

current 35650 strong resistance at 36000.

gamma(+) vega(+)

delta(Neutral) theta (+) gamma(-) vega(-)

 delta(Neutral) theta (+) gamma(-) vega(-)

delta(Neutral) theta (+) gamma(-) vega(-)

delta(Neutral) theta (+) gamma(-) vega(+)

he net premium paid.

 expiry
nifty 15400
june 24 expiry ce
15800 75 64 0
15900 -75 31 0
bull call spread 0
33 -33
-33

in the money s>k

15400
pe
june 24 expiry 15800 75 134 400
bull put sread 15900 -75 202 -500
-100
68 68
-32

k>s

when iv percentile is greater than 65 pe

i find the support t 15500
current price is 15700 15500 -75 otm put
fixed stop loss of the underline. 15300 75 far otm put

bull call ratio back spread ce

29- july expiry
35000 -25 850 850
35500 50 637 1275

-425

s>k
butterfly ce
expiry
24 june expiry 15550 1 213 213
15700 -2 112 224
15850 1 46 46

35

s>k

condor ce
24 june exiry 15600 1 175 175
15750 -1 87 -87
15800 -1 64 -64
15950 1 22 22

46
breakeven points 15646 15904

PE
BEARISH PUT RATIO 35000 -1 -595 595
BACKSPREAD 34500 2 440 880

285
BREAKEVEN POINT 33715
24-Jun
15500 15600 15700 15800 15900 16000 16100

0 0 0 0 100 200 300

0 0 0 0 0 -100 -200
0 0 0 0 100 100 100
-33 -33 -33 -33 -33 -33 -33
-33 -33 -33 -33 67 67 67

15833

ce
15800 15500
15500 15600 15700 15800 15900 16000 16100

300 200 100 0 0 0 0

-400 -300 -200 -100 0 0 0
-100 -100 -100 -100 0 0 0
68 68 68 68 68 68 68
-32 -32 -32 -32 68 68 68

15832

34000 34500 35000 35500 35800 36000 36500 37000

0 0 0 -500 -800 -1000 -1500 -2000

0 0 0 0 600 1000 2000 3000
0 0 0 -500 -200 0 500 1000
-425 -425 -425 -425 -425 -425 -425 -425
-425 -425 -425 -925 -625 -425 75 575
 24
15400 15500 15600 15700 15800 16000

0 0 50 150 250 450

0 0 0 0 -200 -600
0 0 0 0 0 150
0 0 50 150 50 0
-35 -35 -35 -35 -35 -35
-35 -35 15 115 15 -35

15400 15500 15600 15700 15750 15800 15950

0 0 0 100 150 200 350

0 0 0 0 0 -50 -200
0 0 0 0 0 0 -150
0 0 0 0 0 0 0
0 0 0 100 150 150 0
-46 -46 -46 -46 -46 -46 -46
-46 -46 -46 54 104 104 -46

33000 33500 34000 34500 35000 35500 36000

-2000 -1500 -1000 -500 0 0 0
3000 2000 1000 0 0 0 0
1500 500 0 -500 0 0 0
-285 -285 -285 -285 -285 -285 -285
1215 215 -285 -785 -285 -285 -285
37500

-2500
4000
1500
-425
1075
19 21 22
 bull call spread nifty close at expiry

nifty 29-Jul 15700 15800

ce
15850 75 79 0 0
16000 -75 22 0 0
payoff 0 0
debit 57 -57 -57
-57 -57

bull put spread nifty close at expiry

nifty 29-Jul 15700 15800

pe
15850 75 80 150 50
16000 -75 173 -300 -200
payoff -150 -150
credit 93 93 93
bull but spread -57 -57
ivp >65 option are expensive
15100 15200
otm 15500 -75 91 support level -400 -300
fotm 15100 75 36 0 0
payoff 0 0
net credit 55 55 55
-345 -245
with a strict stop los of 15500

bank nifty at expiry

bull call ratio back spread 34500 35000
ce
35500 -1 565 565 0 0
36000 2 355 710 0 0
payoff 0 0
145 -145 -145
-145 -145

butter fly NIFTY ON EXPIRY

15500 15600
ce
1 15700 1 180 180 0 0
2 15850 -2 79 -158 0 0
3 16000 1 22 22 0 0
PAYOFF 0 0
44 -44 -44
 -44 -44
break even 15744
NIFTY ON EXPIRY
IRON CONDOR 15100 15300
CE
otm 16100 -1 -112 0 0
fotm 16400 1 35 0 0
PE 15850
otm 15400 -1 -70 -300 -100
fotm 15100 1 36 0 0
PAYOFF -300 -100
111 111
-111 -189 11
breakeven points 16211
CALENDAR SPREAD NIFTY ON EXPIRY
15600 15700
CE
15900 22-Jul -1 -94 0 0
15900 29-Jul 1 144 15 35

PAYOFF 15 35
50 -50 -50
-35 -15

bear put spread bank nifty close at expiry

bear put s 22-Jul 33000

pe
34000 25 254 1000
33500 -25 137 -500
payoff 500
debit 117 -117
383

bear call spread nifty close at expiry

nifty 22-Jul 15600 15700

ce
15900 75 94 0 0
15800 -75 164 0 0
payoff 0 0
credit 70 70 70
bear call spread 70 70
ivp >65 option are expensive
ce Jul-29 34000 34500
otm 35000 -25 300 resistance level 0 0
fotm 35500 25 121 0 0
payoff 0 0
net credit 179 179 179
179 179

take with a strict stop loss of 35000

bank nifty at expiry

bear put ratio backsppread aug expiry 31500 32000
pe
34500 -1 810 -810 -3000 -2500
33500 2 460 920 4000 3000
payoff 1000 500
110 -110 -110
890 390

condor

15600
ce
1 15700 1 180 180 0
2 15800 -1 108 -108 0
3 15900 -1 54 -54 0
4 16000 1 22 22 0
PAYOFF 0
40 -40
-40
break even
 15850 15900 15950 16000 16100 16200

0 50 100 150 250 350

0 0 0 0 -100 -200
0 50 100 150 150 150
-57 -57 -57 -57 -57 -57
-57 -7 43 93 93 93

15850 15900 15950 16000 16100 16200

0 0 0 0 0 0
-150 -100 -50 0 0 0
-150 -100 -50 0 0 0
93 93 93 93 93 93
-57 -7 43 93 93 93

15300 15400 15500 15600 15700

-200 -100 0 0 0
0 0 0 0 0
0 0 0 0 0
55 55 55 55 55
-145 -45 55 55 55

bank nifty at expiry

35500 36000 36500 37000 37500 38000

0 -500 -1000 -1500 -2000 -2500

0 0 1000 2000 3000 4000
0 -500 0 500 1000 1500
-145 -145 -145 -145 -145 -145
-145 -645 -145 355 855 1355

NIFTY ON EXPIRY
15700 15800 15850 15900 16000 16100

0 100 150 200 300 400

0 0 0 -100 -300 -500
0 0 0 0 0 100
0 100 150 100 0 0
-44 -44 -44 -44 -44 -44
 -44 56 106 56 -44 -44
15956
NIFTY ON EXPIRY
15400 15700 16000 16100 16400

0 0 0 0 -300
0 0 0 0 0

0 0 0 0 0
0 0 0 0 0
0 0 0 0 -300
111 111 111 111 111
111 111 111 111 -189
15289
NIFTY ON EXPIRY
15800 15900 16000 16100

0 0 -100 -200
100 150 195 -245

100 150 95 45
-50 -50 -50 -50
50 100 45 -5

bank nifty close at expiry

33500 34000 34500 35000

500 0 0 0
0 0 0 0
500 0 0 0
-117 -117 -117 -117
383 -117 -117 -117

15800 15900 16000

0 0 100
0 -100 -200
0 -100 -100
70 70 70
70 -30 -30

35000 35500 36000

0 -500 -1000
0 0 500
 0 -500 -500
179 179 179
179 -321 -321

bank nifty at expiry

32500 33000 33500 34000 345000 35000 35500

-2000 -1500 -1000 -500 0 0 0

2000 1000 0 0 0 0 0
0 -500 -1000 -500 0 0 0
-110 -110 -110 -110 -110 -110 -110
-110 -610 -1210 -610 -110 -110 -110

NIFTY ON EXPIRY
15700 15800 15900 16000 16100 16200

0 100 200 300 400

0 0 -100 -200 -300
0 0 0 -100 -200
0 0 0 0 100
0 100 100 0 0
-40 -40 -40 -40 -40
-40 60 60 -40 -40
15740 15960
52 WEEK HIGH ATR 4 ATR
15945 150 600
15345 BULL SUPPORT LINE