Hi Traders,
here is Nifty Option Chain of 23rd Sep 11(Fri).
Number of sessions remaining in SEPT Series : 4
29th Sep, Thurs, Settlement day.
Volatility Index : 35.16 ( 1.28 , 3.78 % )
Notice the build up at 4600 Put. May be these put writers are anticipating Nifty will not close below 4600 in this series.Also the OI build up at 4800 call and 5000 call. given the volatility call writers at 4800 are optimistic. but thinking 5000 as ceiling for the Nifty in this series is reasonable.
Keep an ear on Euro Zone news.My take is volatility will remain in this week also. hence it is advisable not to write Naked Options or using strategies like Short Strangles.
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