S2Ep120 | Friday's Board Was Built For A Rally And It Took One Session To Take The Whole Thing Apart | 659 Lakh Calls Written, 189 Lakh Puts Covered | I Am Still Buying The Dip Into 23,600 With An Expiry Target Of 23,900 | 8th Sept Tuesday
Summary
Host Harmeet Singh breaks down the market's sharp reversal from a gap-up signal to a 0.5% decline, driven by a massive shift in options open interest and a violent rotation into pharma stocks. He analyzes the new max pain at 23,800 and identifies key support levels, recommending an iron fly strategy to buy dips near 23,700 with a target of 23,900. The episode concludes with critical risk management advice for the expiry day, urging traders to close positions by 3:15 PM.
Topics discussed
Sponsor: Just Food For Dogs
Sponsor: Zovir for COVID-19 prevention
Market recap: Option board and volatility crush
Nifty and Sensex performance analysis
Pharma sector surge and sector rotation
Option chain analysis: Call and Put OI
Max pain, implied volatility, and basis
Retail put selling and professional trader shifts
Global cues: Gift Nifty, Asia, and Oil
Trading plan: Support, resistance, and targets
Risk assessment and squeeze potential
Iron Fly strategy details and entry levels
Position sizing, exit rules, and scorecard
Sponsor: Just Food For Dogs (Repeat)
Sponsor: Wealthfront Cash Account
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