Good Morning
Global again melt down, Dow down 2000 points in 2 days, We suggest that don't carry any positions & we are opening at 11700. Carrying Put since not crossed 12200 is now at high. Y'day gapup due to short covering but it was again sold into by FII.
FII was net sellers in cash Market i.e. 2315 Cr which is very negative. In derivatives FII added 15.6k Index Long( IT & Next Series) & covered 2.4k Shorts, In stock futures covered 10k Longs & added 15k shorts, In Options Covered 17k Put Long & no put writting at all. Pros added 34k Call Short (1.4 lac y'day) & 1 Lac Put Long suggest that more downside is intact. To protect bearish mood added 16k put short.
Overall Mood is bearish so Play with Puts and watch out some stocks Calls of March to go Long & hold it for good returns.