Unusual option series – Justdial,Ultracemco and Rollovers

Dharam Chand Sethia Uncategorized Leave a Comment

This month starting January series we have 2 candidates for unusual option series-

  • Justdial.
  • Ultracemco.

Below is the image of December series.Since it was last day of expiry we will see a good amount of covering in ITM options so it doesn’t result in Physical Delivery of the stock.

JUSTDIAL

Just dial December series

 

In the January series we saw the build-up inn 580 and 600 strikes on 1st day of expiry, a qty that was there in the dec series towards end of series. Once more these are not as large that it would standalone would trigger a trade idea, one needs to back it up with charts too.

Just dial January

 

ULTRACEMCO

It’s not a very liquid counter for option trading. And creating deep ITM positions may have 2 purposes-

  • Non-direction and only points out that someone is trying to take the margin benefits out of this like it happened in NIFTY December series a quarter ago.
  • Another comparable position(contrary to nifty opinion of margin benefit) was in Jindalstel put options, which actually gave a good directional move.

One should keep in watch list and track price action and cement sector news.

Ultracemco january series

 

There wasn’t any such position in December series.

Ultracemco dec series

 

Additionally this january month starts with high rollovers among most of the stocks exception being 3 where we saw very low rollovers –

  • INFY,
  • PowerGrid and
  • NTPC.

There OI is lowest in the 6month to 1 year period.Let us see how it goes further.

 

Low Rollovers candidates

(chart courtsey-myfno.com)

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