This is High risk- High reward strategy. Good results when Nifty is trending and BankNifty is range bound. Bad results when Nifty is range bound and Banknifty is trending.
COVERED CONTRA STRADDLE (NIFTY + BANKNIFTY)
| Action | Contract | Option Type | @ 9:30 | CMP | Result |
|---|
| Sell 1 lot |
BANKNIFTY2220340000CE |
40000 CE |
193 |
96 |
2425 |
| Sell 1 lot |
BANKNIFTY2220339500CE |
39500 CE |
292 |
152 |
3500 |
| Buy 1 lot |
NIFTY2220317300CE |
17300 CE |
245 |
160 |
-4250 |
| Buy 1 lot |
NIFTY2220317300PE |
17300 PE |
263 |
345 |
4100 |
| Sell 1 lot |
BANKNIFTY2220337100PE |
37100 PE |
290 |
410 |
-3000 |
| Sell 1 lot |
BANKNIFTY2220336600PE |
36600 PE |
189 |
269 |
-2000 |
|
Approx Margin Required: 325000 Profit (in ₹): 775 INR | Max Profit (in ₹): 2550 INR | Max Loss (in ₹): -1300 INR |