Positional Derivatives Strategy in Yes Bank (Butterfly Spread)
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Scrip Name: YES BANK
Strategy – BUTTERFLY SPREAD
Buy 1 Lot YES BANK 1340 CE at 20.5
Sell 2 Lots YES BANK 1350 CE at 17.5
Buy 1 Lot YES BANK 1360 CE at 14
Margin Requirement – Rs 200,000 (approximately)
Max Profit: Rs 7350 (10.5*700) if YESBANK expires at 1350 level
Max Loss: Limited to the brokerage
Reason – YESBANK has reached near resistance area and is likely to remain in consolidation even after announcement of quarterly result slated for this week. The loss is limited in the strategy to the brokerage paid and hence this is a low risk strategy. The IV’s are low and likely to remain low.
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Founded in 1986 by Nirmal Bang, the Nirmal Bang is recognized as one of the largest retail broking houses in India, providing an array of financial products and services. Their retail and institutional clients have access to products such as equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS. The Group is headed by Mr. Dilip Bang and Mr. Kishore Bang.
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