Derivative strategy on SBI from Motilal Oswal Securities

Here is the derivative strategy for SBI from Sacchitanand Uttekar:

Option Strategy: SBIN (Put Butterfly Spread)

Buy 270 PE 1 lot

Sell 260 PE 2 lots

Buy 250 PE 1 lot

Target   15000                    

SL 3500

 
* SBIN is consolidating in the band of 250-290

* Call concentration at 300 could act as stiff resistance. Unwinding in 270 PE could see stock correcting

* Considering high vols, Put Butterfly Spread  is recommended

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Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities