Buy IDFC 60 Call, sell 65 Call: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "IDFC has seen some pretty sharp break out a couple of days back and yesterday it cooled down a bit, but considering the fact that we have seen a break out or it will probably head higher. So one could possibly buy a 60 strike Call that is quoting at around Rs 3.25. also, sell a 65 strike Call that is quoting at around Rs 1.25. The net cost comes to about Rs 2. We are keeping a modest target of Rs 3.50-4 and one could keep a stop loss of Re 1." "The other is a covered call strategy in Rural Electrification Corporation (REC) which of course has been steadily moving up. One could buy September Futures and also correspondingly sell 240 strike Call at Rs 6. We are keeping a target of Rs 247 and one could keep a stop loss of Rs 229," he said.