Hi Traders,
here is Nifty Option Chain of 26th Sep 11(Mon).
Number of sessions remaining in the SEPT series : 3
29th Sep, Thurs, Settlement Day.
Today is another Volatile Session. Nifty went all the way down to 4759 and bounced back to 4860 and closed around 4830. Based on today's session, one can say 4800 put writers showed strength. Notice the OI Build up at 4700, 4800 Puts . There is no unwinding. In fact there is a small addition of OI at these 4700,4800 Puts.
Also there is a considerable OI Addition at 4700, 4800, 4900 calls. US and Europe markets are trading positive as i write this(at 10.15p.m). As such there is no danger of Asian markets opening gap down.
I am thinking if Nifty Opens around 4830 or even goes down a bit after opening, going long on 4800 call may be more profitable than going short on nifty.
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