Derivative strategy from HDFC Securities: Buy Tata Steel August Futures

Views on derivative call by Nandish Shah, Senior Technical & Derivative Analyst, HDFC securities.

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Market news:

Bear Spread strategy on TATA STEEL

 Buy TATA STEEL August 430: Put at Rs 14 & simultaneously sell 410 Put at Rs 8.
Lot Size: 1061.

Cost of the strategy: Rs 6 (Rs 6366 per strategy)

Maximum profit: Rs 14854 if Tata Steel closes at or below Rs 410 on August expiry.
Break-even point: Rs 424

Rationale:

-- Short build up is seen in the Tata steel Futures’ yesterday, where we have seen sharp rise in Open Interest with price falling by 1.27%.

-- Stock price has broken down from the bearish cup and handle...read more

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