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).
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