Reliance Industries (RIL), heavyweight of indian stock market is going to announce its third quarter results.Stock already moved 108 points back from January 2nd low,with speculative news like ,company going to take 26% in Cable networks .Company didn't confirm it yet.
News about buy back is confirmed,According to CNBC-TV18's site company's PAT is seen down 21% at 4510 crore versus Rs 5703 crore, QoQ.So may be to calm investors,company ready for a buy back, but market will forget result if buyback is above 20000 cr .
So just to gain from volatility of reliance ,added a PUT to position.
BUY RELIANCE 720 PUT @ 3
News about buy back is confirmed,According to CNBC-TV18's site company's PAT is seen down 21% at 4510 crore versus Rs 5703 crore, QoQ.So may be to calm investors,company ready for a buy back, but market will forget result if buyback is above 20000 cr .
So just to gain from volatility of reliance ,added a PUT to position.
Disclosure (Positions)
BUY on S&P 500 1290 PUT @ 16.5.
SELL on NIFTY FUTURE @ 4871
BUY 4900 (2)put @27.5
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