What a day...! Vix @ 21, a highly volatile day we all expected, exactly after the holiday, the nifty opened with a huge gap down, giving option sellers nightmares. After the gap, it keeps moving down. Look at the chart. It followed the trend line. Then once it broke the trend line, at the same time, Banknifty also took support at 37000, and a quick 1000 point move lifted Nifty up. Bank nifty good buying opportunity.😊It is budget week, so ahead. Lets keep an eye on both the Nifty and the Bank Nifty.
Coming to my option selling, I had17650 CE and 16550PE. Overnight position When the 200 point gap went down, my 16550 had a huge premium spike. and keep the book of CE profit. Then down my CE 17250 and 17200 at last. Once the recovery happened, I hold on to my 17200CE and kept my PE at 16750 and 16850. nifty keeps moving up one point, P & L show a 1% loss. Then I booked a profit on my PE side and I sold 17200CE heavily.
It is an aggressive trade. In trading, we have to be aggressive and defensive. It helped me end up with a nearly 2% profit. I hope everyone had a great expiry.
Coming to my option selling, I had17650 CE and 16550PE. Overnight position When the 200 point gap went down, my 16550 had a huge premium spike. and keep the book of CE profit. Then down my CE 17250 and 17200 at last. Once the recovery happened, I hold on to my 17200CE and kept my PE at 16750 and 16850. nifty keeps moving up one point, P & L show a 1% loss. Then I booked a profit on my PE side and I sold 17200CE heavily.
It is an aggressive trade. In trading, we have to be aggressive and defensive. It helped me end up with a nearly 2% profit. I hope everyone had a great expiry.
