'Call' option writers pocket gains as quick market recovery seen unlikely

Traders gain 40-44% as markets give up gains in 2nd half

'Call' option writing (selling) saw heavy interest during Monday's trade even as markets showed strong signs of recovery in first half of trading session. Traders with such positions ended with sharp gains as 'call' option premiums eroded with markets giving up gains and Nifty closing 301 points lower from day's high.

"The trend is expected to be cautious as globally things have not yet settled down. The market move in first half of the session can be largely attributed to positive cues from Asian markets and how US futures performed on Monday," said Yogesh Radke, head of alternative and quantitative