Sell Reliance 760 strike put option at Rs 2: Trivedi

Amit Trivedi, Director of Fin Stream Financial Advisors advised selling Reliance Industries Rs 760 strike put option at Rs 2.

Trivedi told CNBC-TV18, “What we are seeing is Reliance Industries has corrected from around Rs 900 level post the results to around Rs 810-815 levels. Yesterday there was a slight move up to around Rs 825-827 levels. We feel the stock should consolidate at these levels, or move up marginally to around Rs 840-845 levels.”
“Traders can go and sell 760 strike put option of Reliance at Rs 2, so you make around Rs 500. You make Rs 500 if Reliance closes at any value above Rs 760 which translates to around 1.5 percent on the margin deployed,” Trivedi added.