 "Option Strategy on JSW Steel by Motilal Oswal Securities")
Strategy:
Option Strategy:
JSW STEEL : BULL CALL SPREAD
Buy 210 CE 1 lot
Sell 215 CE 1 lot
Reward: 15000
Also Read
Risk: 5000
Rationale:
1. It has taken the support at 190 and managed to hold above 200 zone
2. Positive sector outlook with long rolls suggests extension of up move after a small consolidation
3. Fresh Put writing at 200 strike could provide the support
4. Call unwinding in 210 strike may give fresh momentum and fresh leg of rally towards 215-218 zone
5. Thus low risk strategy Bull Call Spread is recommended
Disclaimer: Chandan Taparia is a Derivatives and Technical Analyst at Motilal Oswal Securities.
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