Markets are extremely over sold.
Rupee at all time low.
Reliance is down more than 25% from recent all time High.
Results will be on Thursday, after market hours.
In order to squeeze the short sellers, reliance may make some positive announcement, like JIO IPO.
If you take some bullish view now, one can buy 1260CE and sell 1300CE, they are the strikes which are very active today.
Maximum loss is about Rs 5000, maximum profit is about Rs 15000.