Rs.1,920 profit in Ujjivan from Call Put option strategy

Hello Friends,

Today is 22nd Oct 2019. Yesterday was a trading holiday due to election voting in Maharashtra state.

As per the technical analysis done last week i decided to take position in Ujjivan Financial Services Limited. 

NSE code is "UJJIVAN". During market closing time i executed the following trade.

I bought both call option and put option of 31st Oct expiry. This is also called long strangle strategy.

Ujjivan had given a close of 306.75 on friday 18th oct.

Bought 320CE at Rs.9 and 

Bought 310PE at Rs.7.70

My total buy cost in this option trade is 16.70 x 1600(lot size) = Rs.26,720

I expect volatility and momentum to work in favour of this trade to make a decent profit. Below is the weekly stock chart.

Ujjivan weekly stock chart

I will be updating the result of the trade call, but for now, you can subscribe to my Email newsletter for timely updates. In case, if you have questions feel free to ask via comments.

Rs.1920 profit 

Update

Hello Friends, today 23rd Oct I have booked profit in this trade call making a decent profit of Rs.1920.

Sold 320CE at Rs.11.50 and 310PE at Rs.6.40

Total selling price is 17.90. My buy cost was Rs.16.70

Profit is 17.90 - 16.70 = 1.20 x 1600 (lot size) = Rs.1920