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Bull spread Strategy on Dr Reddy s Labs Buy DR REDDY S MARCH 4,600 Call at Rs 182 & simultaneously sell 4,800 Call at Rs 106
Lot Size: 125
Cost of the strategy: Rs 76 (Rs 9,500 per strategy)
Maximum profit: Rs 15,500 If Dr Reddy s closes at or above 4,800 on March 25 expiry.
Breakeven point: Rs 4,676
Rationale: Long build-up was seen in the Dr Reddy Futures’ where we have seen 4 per cent (Prov) rise in the Open Interest with price rising by 1 per cent. The stock price has broken out on the daily chart where it closed above 200-day EMA with higher volumes. The stock price has formed double bottom around 4,380-odd levels
By Aaron Saldanha, Thyagaraju Adinarayan and David Randall (Reuters) - GameStop Corp shares shot higher Thursday after doubling in the previous session, triggering a series NYSE trading halts and leading a surprise resurgence of so-called stonks, as passionate retail investors have dubbed their favorites on various online forums. GameStop shares hit $160 at the open before being halted after several minutes of trading and fell to around $129 before the second halt. The stock resumed trading around 10 a.m. Eastern and hovered around $143 in late morning trade, up 56%. The rally lifted other stonks popular on sites such as Reddit s WallStreetBets, with AMC Entertainment Holdings Inc up 12.5% and headphone company Koss Corp up nearly 61%.