Buy L&T Finance June futures, sell 80 Call: Krish Subramanyam

Krish Subramanyam of Altamount Capital told CNBC-TV18, "I have got three covered call strategies. First is L&T Finance Holdings. This stock saw decent rise past Rs 80 but since then it has retraced. We feel that bottom has been formed; levels around Rs 75, so one could do a covered call. One can buy June Futures around Rs 76.80 and also sell 80 strike Call at around Re 0.90. Keep a target at Rs 81 and stop loss at Rs 74." "Bharti Infratel saw some severe shorts getting creating. We should see some short covering coming about before expiry. So another covered call wherein one could buy June Futures at Rs 343 and sell 350 strike Call at Rs 7 for a possible target of Rs 355 and keep a stop loss of Rs 338," he said. "Federal Bank has been my favourite and of course we have seen some correction and the stock has come down to levels around Rs 57. We could start the upmove passed levels of Rs 60 and one could again go with a covered call strategy. Buy June Futures and sell 57.5 strike Call which is quoting around Rs 1.60, keep a target of Rs 60 and a stop loss of Rs 55."