Nandish Shah, a senior analyst at HDFC Securities, suggests implementing a bull spread strategy for JSW Energy and Indian Energy Exchange (IEX) ahead of their options expiry on April 28. For JSW Energy, investors are advised to buy the ₹540 call at ₹11.75 and sell the ₹550 call at ₹8.05, resulting in a cost of ₹3.7 per strategy and a maximum profit of ₹6,300 if the stock closes at or above ₹550. The breakeven point for this strategy is set at ₹543.7. The rationale behind this recommendation is the observed short covering in JSW Energy futures, along with a 1.4% price increase, indicating a positive short-term trend supported by momentum indicators. Similarly, for IEX, the strategy involves buying the ₹136 call at ₹2.90 and selling the ₹140 call at ₹1.40, with a maximum profit potential of ₹9,375 if it closes at or above ₹140. The breakeven point is at ₹137.5, with a maximum loss of ₹5,625 if it closes below ₹136. Both stocks are showing positive trends, making these strategies appealing for investors.