Krish Subramanyam of Altamount Capital suggests buying Tata Steel 480 Put and sell 450 Put.
Krish Subramanyam of Altamount Capital told CNBC-TV18, "We have seen some pretty sharp correction in some of the metal counters, so going with that, a bear spread in Tata Steel wherein one could buy 480 Strike Put that is quoting at around Rs 17. But one could also hedge it by selling a 450 Strike Put that is quoting at around Rs 5. So, net cost comes to about Rs 12 keeping a target of Rs 24 and stop loss of Rs 6.""The last one is a covered call strategy in Godrej Industries. This has been a very good outperformer in the last few months and seems to gathering steam again. So March Futures can be bought but also sell 510 Strike Call at around Rs 9-10. We are keeping a target of Rs 515 and maybe one could keep a stop loss of Rs 480," he said.