Yes , but it is a quite hard task for petronetlng to reach such target because it is a slow mover stock but once it goes in pace it will cross 236 range and bounce back to 257..
Do you think that it can show some up moves (like 240++) before this month's expiry?
Abhishek722
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@newbieintrading, Yes but you can trade in this and earn even if it doesn't show any movement..
newbieintrading
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@Abhishek722, problem is i have 240CE of this month's expiry and im in loss. No idea that should i exit or hold until it closes below 227? It was my result bet although looking at its moves in recent days, im not very excited about the upcoming results. One gap down opening in petronet and im gone. Haha :p
@Abhishek722, lol. If only i could. I have 240CE. Shorting required high margin. Which i can't afford... And yes.. naked position with otm options always comes with high risk. Hey what a coincidence. ..my name is also Abhishek