 "L&T has so far received bids for 55.4 million shares")
Buy MINDTREE 3000 CALL at Rs 43 & simultaneously sell 3100 CALL at Rs 21
Lot Size: 400
Cost of the strategy: Rs 22 (Rs 8,800 per strategy)
Maximum profit: Rs 31,200 if MINDTREE closes at or above Rs 3,100 on 26 August expiry
Breakeven Point: Rs 3022
Rationale:
- There is a long build-up in Mindtree Futures, where we have seen 4%(Prov) rise in the Open Interest with the price rising by 4%.
- The stock price has broken out on the daily line chart with higher volumes, to close at all-time high
Lot Size: 400
Cost of the strategy: Rs 22 (Rs 8,800 per strategy)
Maximum profit: Rs 31,200 if MINDTREE closes at or above Rs 3,100 on 26 August expiry
Breakeven Point: Rs 3022
Rationale:
- There is a long build-up in Mindtree Futures, where we have seen 4%(Prov) rise in the Open Interest with the price rising by 4%.
- The stock price has broken out on the daily line chart with higher volumes, to close at all-time high
