Bank Nifty Options Trading 20500CE-18jun2020

20500 CE, 18 June 2020 (Expiry Today)
This was the 1st trade of today. Call Option buying was done between 13 and 25, which was day low (just good luck, not repeatable), with avg price 20, and target was 100. We didn’t want to push our luck further, because this Option could easily expire at 0 also.

Trade Summary:
Buy at 20 for Target 100 with Stop loss 0.

Trade Result:
Target Hit, giving 5X gain.

Notes: This Call Option went up till 388…just imagine! The main reason for buying this Call Option was that the technical setup was very attractive for a test of 20,500 level by Expiry today, and it played out. For Rs 5000 allocated, it gave Rs 25K in return, which is amazing gain. But this trade is not possible every week, maybe once in 2-3 months, such good setup can come. Thanks.