Buy 3000/3100 CE and 2600/2500 PE depending on the intraday supports and resistances. Time the trade so that the strangle is placed equally on both sides from CMP/ EOD closing. Beware that INFY options premium is high compared to the time of Jan 2013 results.
Two choices - Breakout or breakdown:
Breakout: 3000 has been a stiff resistance and bulls will likely target 3000 and simple trading range breakout pattern should give a 200-300 point move on upside breakout giving a minimum target of 3200-3300. "3000 CE"
Breakdown: 2760 should NOT be violated on a weekly(12th Apr 2013, Friday) closing basis. (Not that gap-down gives a chance to enter a trade :) ) 2500-2600 should the minimum targets on the downside. "2600 PE"
11 Jan 2013 Options Move - screenshot to be updated along with 12 Apr 2013's move tomorrow EOD
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One day before last quarter result, Infy closed around 2320 (approx) and on result day closed around 2712 -
11 Jan 2013 Options Move - screenshot to be updated along with 12 Apr 2013's move tomorrow EOD
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One day before last quarter result, Infy closed around 2320 (approx) and on result day closed around 2712 -
- option long strangle of 2000 PE(~0%) and 2600 CE(~1858%) gave a combined return of 9X.
- option long strangle of 1900 PE (~0%) and 2700 CE(~2952%) gave a combined return of 15X.
