ICICI Bank (IBN)-- Indian banking firm. Responsive to rising rates and macro pressures within India.Currently shorting this stock due to large block of put trading volume seen within Indian exchanges and more restrictive monetary policy.
Risk against trade: Indian macro picture improving, better consumer confidence and inflation numbers. Election surprises and magical recovery in the rupee.
Trade Setup:
20 IBN Oct 19 '13 $32 Put(IBN) @
$1.50
Trade Exit (Non-Ideal): Stock rides above $33 level back to its August highs.
Trade Exit (Ideal): Stock goes below $32 due to more news coming from India (although Oct 19th is very fast approaching).
Thursday, September 26, 2013
ICICI Bank Prior Trade
Currently focused on options trades for the month expiring in October and January respectively.
ICICI Bank (IBN)-- Indian banking firm. Responsive to rising rates and macro pressures within India.
Trade Reason:
Due to the falling Rupee eventually finding a base after hitting $69 level used ICICI Bank to profit from the upward move in the Indian stock market and Rupee stabilizing.
Trade Setup:
3 IBN Oct 19 '13 $28 Call(IBN) @ $1.5
Trade Exit:
3 IBN Oct 19 '13 $28 Call(IBN) @ $4.51
ICICI Bank (IBN)-- Indian banking firm. Responsive to rising rates and macro pressures within India.
Trade Reason:
Due to the falling Rupee eventually finding a base after hitting $69 level used ICICI Bank to profit from the upward move in the Indian stock market and Rupee stabilizing.
Trade Setup:
3 IBN Oct 19 '13 $28 Call(IBN) @ $1.5
Trade Exit:
3 IBN Oct 19 '13 $28 Call(IBN) @ $4.51
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