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Thursday, September 28, 2023

Equity Futures: Aggressive selling in 18600 calls as Nifty 50 falls

Informist, Wednesday, May 31, 2023


By Pradeep Suresh V


MUMBAI – The Nifty 50 index closed at 18534.40 points snapping a four-day winning streak, taking cues from issues in the US and China. This prompted several traders to sell call options with strike prices in 18500-18650 range, and buy put contracts at 18400-18500 strike prices.


The position of call writers are scattered around 18600-18700 range, said Osho Krishan of Angel One. “I expect Nifty 50 to reach close to 18700-mark by the end of this week,” he added.


Premium at call options of 18600 strike price fell by 60.40 rupees to 21.40 rupees, and those at 18500 strike price fell by 86.25 rupees to 72.25 rupees. Premium of 18550 strike price fell by 76.55 rupees to 41.05 rupees today, as traders remained concerned about global cues.


On the put side, premium of 18500 strike price rose 10.10 rupees to 27.30 rupees, indicating slight bearishness. Open interest stood high with 2.8 mln new positions.


The Nifty Bank also fell today, prompting traders to sell calls at 44200 strike price. Premium of call options at this strike price fell by 200.05 rupees to 104 rupees, with addition of 3.01 mln fresh contracts.  


Nifty 50 Jun closed at 18622.60 points, down 90.40 points or 0.5% vs Tuesday


The June futures contract of the Nifty 50 closed at a premium of 88.2 points to the spot index today. Open interest in the contract fell 1.4% to 9.79 mln, as per provisional data.


–Nifty 50 Jun closed at 18622.60 down 90.40 points; 88.2-point premium to spot index

–Nifty 50 Jul closed at 18698.05 down 85.75 points; 163.65-point premium to spot index

–Nifty 50 Aug closed at 18781.20, down 80.60 points; 246.8-point premium to spot index


Today, HDFC Bank, Kotak Mahindra Bank, Bharati Airtel, Reliance Industries, and HDFC were among the most actively traded underlying stocks. End



Edited by Manisha Baxla



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Source: Cogencis

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