New Delhi, Nov. 20 -- With the bellwether Nifty 50 index less than 1% from its lifetime high of last September, options traders have initiated trades that anticipate a new high of 26,358 by Tuesday, 25 November. The index was trading at 26,143 around noon on Thursday, just 0.5% below its record high of 26,277.35, achieved on 27 September 2024.

The expectation of a new high is borne out by data that shows options traders have been selling a combination of Nifty call and put options at the 26,100 strike for a combined Rs.258 a share (75 shares make up one contract). The contracts expire on Tuesday. With this trade, sellers will pocket the entire Rs.258 if the Nifty stays within 25,842-26,358 by Tuesday. They will make losses only if the in...