Buy BPCL 900 Call, sell 940 Call: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Bharat Petroleum Corporation (BPCL) continues to outperform the broader market and we saw some correction in the early part of the week but it regained momentum. We are also seeing some steady Put writing taking place at 880 strike and today we are seeing some upside.""We feel that we could do some sort of bull spread here wherein one could buy 900 strike call that is quoting around Rs 19 but also hedge price selling 940 strike Call that is quoting at around Rs 3. So the cost comes to about Rs 16, we are keeping a target of Rs 30 and may be one could keep a stop loss of Rs 8," he said.