Date: 31 AUGUST, 2017
Scrip Name: BANKNIFTY
Strategy – LONG STRADDLE
Buy BANKNIFTY 31AUG 24200 CE at 70
Buy BANKNIFTY 31AUG 24200 PE at 43
Margin Requirement – Rs 4520 (approximately)
Max Profit: Unlimited if BANKNIFTY expires above 24313 or below 24087
Keep a SL of 50 points or Rs 2000 Loss
Maximum Loss: Rs 4520 (113*40) if BankNifty expires at 24200 (if one doesn’t keep SL)
Target 100 points premium gain
Upper Breakeven: 24313
Lower Breakeven: 24087
Reason – The monthly contract of index is up for expiry today. The index generally witnesses more than
100 points move in either direction during expiry. The increasing VIX indicates more than 110 points
move on either direction is likely, which will in turn benefit the strategy.
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About Nirmal Bang
Founded in 1986 by Nirmal Bang, the Nirmal Bang is recognized as one of the largest retail broking houses in India, providing an array of financial products and services. Their retail and institutional clients have access to products such as equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS. The Group is headed by Mr. Dilip Bang and Mr. Kishore Bang.
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