Seeing something interesting on weekly option chain after a long time. So thought to share with you all.
Below is the pic of today EOD position
Below is the pic of today EOD position
Now see this OC as per Friday close. Here concentrate especially on CE side. If my memory serves me right, then I have never seen 40lk contract O/s on friday close in any particular option. But friday saw 40000CE close at 39lk OI. Quite huge by friday standard.
This clearly shows that CE writer were very confident of closing BNF below 40000 this expiry also and today upmove caught them on wrong foot completely. I will go on to say that they are trapped even today. Now again see the below pic
In pic you will be able to see that CE writer ran away but they did not got the opportunity to write the PE in same way today. Means all these guys booked loss in CE position.
Now see in blw pic u will understand that this 40000CE writing started from 21/2 on break of 40800 EOD
Now see in blw pic u will understand that this 40000CE writing started from 21/2 on break of 40800 EOD
You can clearly see that on 21/2 , 40000CE close was 749. In below pic see 404 and today close 456. Looks like all trapped badly and if starts to trade above 749 on this CE then really good SC will start in BNF. Till this CE holds 360 levels avoid being bearish on BNF.
Hope i was able to add up and for further discussion we can chat on t.me
Exciting time ahead on BNF. Today added two expiry prices for first time on tweeter and will post more on concept soon.
Exciting time ahead on BNF. Today added two expiry prices for first time on tweeter and will post more on concept soon.
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