however sl applicable
duration 3 to 5 days
After 200 to 300 pts further fall on Monday (15.3.2021), planning to create a risky reversal trade.
a)BNF long + 37000 put long + Short ce of strike price that has value around 50 to 70 price. All together mathematical risk should not exceed 2K, if trades goes against to us. duration 3 days. Booking profit whenever, 2K is seen. probability is low, but risk is also low with only 1K or 2K within 1 to 3 days..... As days goes .... minimize the profit target from 2K to 500 as the day goes on. that means..
On Monday... booking profit whenever 2k is seen
on Tuesday.. booking profit whenever 1.5K is seen
on Wednesday... booking profit whenever 1K is seen
On Thursday or expiry day.... closing the trade before 12.00 PM (Having highest risk/loss on this trade will be 2K) as time decay will be very high.
Challenges: Bid and Ask difference of put Long side; for this we should time and check the point whenever the difference of ask and bid is less than 10 to 20 pts on put long side. If the ask and bid difference is more than 30 pts.. Avoid this strategy.