Last Update: 28 April 2026, 7.00 PM
Crude Oil Option Chain Strategy Today (14 May Expiry)
MCX Crude Oil near Rs. 9450. Will it break Rs. 9500 or slip below Rs. 9400? Full trade setup below.
Today’s Bias
Bullish above Rs. 9500
Weak below Rs. 9400
Range zone: 9400–9500
Today’s Options Trade Setup
| Instrument | Trade | Buy Zone | Target | Stop Loss |
|---|---|---|---|---|
| Crude Oil | 9500 CE Buy | Rs. 615 – 635 | Rs. 720 / 810 | Rs. 555 |
| Crude Oil | 9400 PE Buy | Rs. 615 – 635 | Rs. 720 / 790 | Rs. 565 |
Execution Plan
| Condition | Action |
|---|---|
| Below 9400 | Buy 9400 PE |
| Above 9500 | Buy 9500 CE |
| 9400 – 9500 | No Trade Zone |
Crude Oil Rally Continues on Hormuz Supply Shock
WTI Crude Oil advanced above $100 per barrel, gaining nearly 3.84%, while Brent Crude Oil climbed to $111.31, up 2.85%.
Why Crude is Rising:
- Near-total disruption in the Strait of Hormuz, a critical global oil shipping route
- Reduced Middle East crude flows tightening physical markets
- Iranian oil storage nearing capacity, raising risk of production shutdowns
- Traders adding geopolitical risk premium
Outlook:
Crude remains bullish while Hormuz disruption continues. However, any breakthrough in US-Iran talks could trigger sharp correction.
Chanakya View:
Oil likely to remain volatile in $96–108 WTI range near term.
Crude oil extends gains on Monday, with WTI and Brent trading above $96/bbl and $108/bbl respectively, building on last week’s impressive 13% and 16% advances, as markets continue to digest a volatile mix of recurring diplomatic friction and conflicting signals surrounding the Strait of Hormuz. Prices witnessed some pullback earlier in the session following reports that Iran has submitted a new proposal to the U.S. via Pakistani mediators, calling for a ceasefire extension and the lifting of the maritime blockade before nuclear talks resume. The development arrives against a backdrop of ongoing diplomatic fragility, underscored by Trump’s decision to cancel a planned envoy visit to Pakistan, signalling to investors that U.S. conditions for renewed high-level talks have not yet been met. This recurring pattern, where optimism is quickly tempered by conflicting signals, continues to define the current geopolitical landscape.
Last week’s volatility was partly shaped by Friday’s session, when prices slipped from intraweek highs after reports emerged that Iranian Foreign Minister was expected in Islamabad for discussions with Pakistani mediators on a potential second round of U.S.-Iran negotiations. While current tensions sustain upward pressure and helped process rebound from session lows, any credible confirmation that the Strait is reopening would likely trigger a sharp correction. As long as Washington and Tehran continue to trade conflicting signals, oil prices will stay highly sensitive to any new developments and prone to sharp price swings in either direction.
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