In last 45 days ICICI bank has taken support at 340 levels ( & 320 level) and has a Resistance at 380 levels.
This give an ample opportunity for writing options. As ICICI Bank is at the support level , aggressive trader can write 340 Put or 325 Put , he can make a ton of money in July Expiry if support levels stay intact. However a safer bet would be writing a 385 call option with well defined Stop loss.
Also a trader , with considerable amount of margin/collateral, can sell a strangle with 325 Put and 385 call.
This give an ample opportunity for writing options. As ICICI Bank is at the support level , aggressive trader can write 340 Put or 325 Put , he can make a ton of money in July Expiry if support levels stay intact. However a safer bet would be writing a 385 call option with well defined Stop loss.
Also a trader , with considerable amount of margin/collateral, can sell a strangle with 325 Put and 385 call.
Trade active:
Sold 325CE @4.5 and 390PE @6
Trade active:
trade going smoothly as expected premium reduced to 3 and 5.7 respectively
Trade closed manually
