S2Ep118 | It Is Not Volume. It Is One Way Flow. | Three Tests In Three Days Settle The Closing Auction Argument | On Expiry Day It Mispriced One Stock Out Of 210 Against 72 Out Of 1,955 Outside It | 4th Sept Friday
The Tanmay Edge | India's pre-market edge, every trading day... by Tanmay Kurtkoti
Episode notes
AND THE PRINT DID IT AGAIN. The Nifty's low was 23,873.45 and its close was 23,873.45. The Sensex low 76,152.86, close 76,152.86. The BANKEX the same, while finishing UP 0.08 percent, so this is not about direction. Three indices printed the day's low as the closing print, two sessions after three of them printed the high. The Sensex indicative at 15:20 flashed 74,373 against a 76,152 settle, 1,780 points, the third time on record.
THE RECEIPT. Yesterday's iron fly on air: sell the 76700 call and put, buy the 76400 put and the 77000 call, credit 237.20, view a settle between 76,700 and 77,000. It settled 76,152.86, so the view was wrong by 547 points. Result: minus 62.80, the maximum loss and the exact number stated before it started. A naked 76700 straddle sold at the same 450 would have lost 97.14, and had the Sensex settled 75,500 it los ...