Buy BPCL 760 Call, sell 820 Call: Krish Subramanyam

Krish Subramanyam of Asit C Mehta Investment Interrmediates told CNBC-TV18, "The OMCs saw some very good action yesterday and yesterday Bharat Petroleum Corporation (BPCL) saw some open interest price of around 14 percent and that has also almost touched all time high of Rs 785. So today it is cooling off a bit, but we feel it is just a matter of time before the action again starts."

He further added, "We are recommending buying of 760 Strike Call that is quoting at around Rs 33-35 and correspondingly sell 820 Strike Call that is quoting at around Rs 11-12. Net cost comes to around Rs 22-23. We are keeping a target of Rs 45 and maybe one could keep a stoploss of Rs 10."

Disclosure: Analyst has recommended above strategies to his clients at large. Personally he has no oppositions.