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Optionexpiry

Bank Nifty Level & Strategy for 08/09/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please don’t trust me or anyone for trading/investment purpose. Focus on learning how to fish, trust your own skills and please do consult your financial advisor before trading. BANK NIFTY Bank Nifty is down by -210.6 points. Bank Nifty offered excellent opportunities to option writers (short straddle/strangle traders). PCR shifted down from 0.91 (bearish zone) to 0.78 (getting close to oversold zone). Bank Nifty closed above VWAP and important support zone with good buying volume which is indicating positive move is likely in Bank Nifty. Let us see how global cues works out tonight. Highest open interest on call side at 40000 (Remained at same level) Highest open interest on put side at 39000 (Remained at same level) NIFTY Nifty is down by just -31.2 points. PCR shifted slightly up from 0.87 (bearish zone) to 0.92 (bearish zone). Nifty hit the target as expected then reversed as well. Later option writer made good money as Nifty traded in a narrow range. Call writers are getting challenged again & again. Today morning put writers run for the cover & majority of them ended up booking losses. Smart traders made money who took contra trades at major support. Highest open interest on call side at 17800 (Shifted up from 17800 to 18000) Highest open interest on put side at 17000 (Remained at same level) Shall we continue look for sell on rise opportunities near major resistance levels with strict SL? and Shall we continue look for buy on dips opportunities near major support levels till indices are trading in a range? Please do share your comments. Have a very happy, healthy & profitable day ahead!
NSE:BANKNIFTYLong
by manishmgupta
BTC descending triangle with options expirying at 48kHello everyone, this is my first time posting an idea on BTCUSDT , I'm in no ways an expert, just a day trader looking to learn. With that out of the way, I notice BTC has made several failed attempts to breach the 48k resistance and trade volumes are decreasing. We had a small breakout attempt from that resistance, which lasted no more than a few minutes, leaving only wicks above 48.4k. There is local support at 46k , followed by strong support 42-43k. With options expirying at new years eve and the maximum pain price being 48k , I expect the following hours leading to 00:00 to range around 48k , after that everyone is expecting high volatility , and the path with least resistance is to the downside. That, combined with the fact that we are in a strong resistance area , the formation of a descending triangle makes me believe we might not have the happiest of new's years. Again, this is my first idea and Im just throwing it out there to see what people think, in order to improve my skills. Personally I would love to see 42k to add more BTC to my portfolio. Again, first idea, day trader. Please do not take this as advice. I just want to hear some feedback.
Short
by cryp70g0d
5
EURUSD - If i had no ongoing trade..Currently, I am still holding EURUSD short. Click the chart below to understand my trading plan at the time Nothing much I could do right now other than wait until my specified exit indicator tells me its time to close my entire position. Now, lets say I don't have any EURUSD position right now, here's probably the plan I would make. Technical Analysis suggests to me that EURUSD is still in a bearish trend (honestly you could just load up the daily chart and eyeball it!) and I will be looking for a bullish retracement to get me a good price to short EURUSD. I do understand if some traders are now starting to look for a LONG setup for EURUSD, at least intraday. Yesterday price moved downwards and hit last week's 20-week AWR downside projection when that happens price tend to either move sideways or retraces. Moreover there is a big option expire at the NY Cut at 1.0950. We all know option expiries sometimes acts like a price magnet. It would take exactly the 20-day ADR upside projection for the price to reach there before the NY cut. I am open for an intraday scalp to the upside with minimal risk but I am still bearish bias overall. I am anticipating the price would reach 1.0950 but i will be looking to short from there. however, if there is a bearish signal under the option expiry, then I will be taking that short trade.
by sufiansaid
Spitting Thoughts : Option ExpiriesI am "exposed" with my short trade and I have my stops (beyond entry-level now, so yay) around that massive option expiry at 1.1000! Sometimes these option expiries give a magnetic effect on price. Would price move aggressively 67-70 pips from current market price in less than 5 hours? I don't see risk event for both U.S and Euro to warrant me a believe that could happen. I have been wrong more often than not when it comes to "guessing" where the market would go (and I do not care about that as long as I have more profit when I am right than when I am wrong) so who knows ey.. for my sake (holding a profitable short trade right now ) , I do hope price would not be pulled by this massive option expiry at 1.1000. Get myself popcorn and I will see what the market would give us.
by sufiansaid