NIFTY is unlikely to cross 22,500 in near future so I would be selling 22,500 call for MARCH series at 270.
this is for monthly series.
frankly i dont think you have to buy any hedge for this trade.
On 28th MARCH this call should expire at 0.
see there is a risk in every trade.
Our job is to acknowledge the market direction and execute appropriate trades managing our RISK.
BEST WISHES for the month ahead.
for non directional traders who have decent pockets.
below strategy is for you
sell 22500 straddle for 25th APRIL expiry,
combined premium as of now is 534+478=1012 points this would secure zone of 21,500-23,500 risk free for you.
now because our overall view is BEARISH we shall hedge this trade with 21500 put of same expiry at 161.
this shall protect your downsides also once 22000 breaks on APRIL FUTURES you would have to cover your put shorts.
feel free to connect with me regarding any doubts.
gann,insides 