Buy Coal India 280 Call, 280 Put: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "Coal India after some deep cut, ex-dividend showed a deep cut, but closer to levels of Rs 275-280 we have seen some sort of short covering and yesterday we did see a sharp spike followed by good long build up as well. So, probably in the near-term some uptrend could be seen but here we are recommending buying of a straddle.""One could buy 280 strike Call that is quoting at around Rs 9 and 280 strike Put that is quoting at around Re 1. The total cost comes to about Rs 10 and one could keep a target of Rs 17 and maybe a stop loss of Rs 7," he said.