Buy PIDILITE SEPT 2360 CALL at Rs 56 & simultaneously sell 2400 CALL at Rs 41
Lot Size 500
Cost of the strategy Rs 15 (Rs 7500 per strategy)
Maximum profit Rs 12500 If PIDILITE closes at or above 2400 on 30 Sept expiry.
Breakeven Point Rs 2375
Rationale:
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We have seen long build up in the Pidilite Futures during the Sept series till now, where we have seen 18% rise in the Open Interest with price rising by 5%.
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Stock price has broken out on the weekly chart to close at all time high levels.
- Stock price is forming bullish higher top higher bottom