BULL SPREAD Strategy on ICICI BANK
Buy ICICI BANK (30-June Expiry) 740 CALL at Rs 20.5 & simultaneously sell 760 CALL at Rs 12.5
Lot Size 1,375
Cost of the strategy Rs 8 (Rs 11,000 per strategy)
Maximum profit Rs 16,500 If ICICI Bank closes at or above 760 on 30 June expiry.
Breakeven Point Rs 748
Rationale:
-
We have seen long rollover in the ICICI Bank futures where we have seen 22 per cent addition in Open Interest (Prov) with ICICI Bank rising by 2.5 per cent.
- Short term and medium-term trend of the ICICI Bank turned positive as it is trading above its 20 and