BankNifty BN Option Chain Analysis, Strangle Straddle Returns, Expected Movement – 11th April 2019

11th April 2019 – Another range bound day for BankNifty, the index moved within a range of 200 points. Clear indication that the participants are indecisive of the outcome of the elections. VIX hit 21 and is expected to go up further.

Option chain – (18th April expiry) – Since it is the beginning of the expiry, writers wrote at almost all the strikes, majorly multiples of 500. 30000, 30500 and 30200 act as the resistance on the CE side while 30000, 29500 and 29000 act as support

Key levels to watch for – 29412, 29584, 29756, 29929, 30102, 30276

Range – 29000 to 30000

Max Pain – 29900 (D-1: 30000, D-2: 30000, D-3: 30000, D-4: 30200, D-5: 30100)

PCR – 0.64

(Explanation to this table here – Also, this table is LIVE here – )

Strangle and Straddle Returns Table

(Explanation to this table here – ). Also this table is LIVE here – )

BankNifty BN expected movement with 0.5 SD to 3.5 SD (Reference – Previous day’s closing price)

(Explanation to this table here – ). 

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