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Optionselling

U turn expiry.Day to mark, when the market opens with a huge 400 point gap up, and profit booking kicks in. I have an overnight position of 16600CE and 15700PE, which is a huge premium spike that went MTM loss of 25X. It hit harder than the market moved down. When CE started to melt down, I lost 4% of my capital, but I had seen a 10% loss in my MTM, so I decided to book 4% and did not adjust any positions. I have already booked nearly 1.5% of the legs that I rolled up this week. managed to exit with a minimum loss. Let's see how it ends this week. The market is actually not in a good mood.
NSE:NIFTY
by Manuadarsh
The week end on a high.The week ends on a high. i was expected that it would be a tricky expiry, but it could end up with nearly 2%. I haven't done any aggressive position yet, selling premium spike helped me get there. The week ends on a high. I expected that it would be a tricky expiry, but it could end up with nearly 2%. I haven't taken any aggressive positions yet, but selling premium spike helped me get there. Can I hold on to my 17500CE and 15400PE On Thursday, it absolutely melted. I could roll up my position to 16900CE and 16200PE to end the week. Let's keep a close look at the price action. vix on top and nifty in a negative trend. I will make a decision after watching below 16000 and above 16700. I hope everyone has a good week.
NSE:NIFTY
by Manuadarsh
March is going to be crazy. We are up to the first week of March expiry. Last month we saw such crazy movements as gap up opening and gap down opening. As an option seller, it was really a roller coaster ride, but it could end with green last month. We all learn how to trade in such crazy movements. Looking at the chart, the uncertainty is still there. Any news can drive the market. VIX in the moon, PE side massive premium spike, what I look at the PE side, even the bloodbath. I am confident about the PE side because I can get good premium even far away Srikes. Nifty trading at a major level near 16850. as long as they are below the levels to watch out 16350, 16200, and 16000. If any trend reversal above 16850, the next levels are 17040 and 17250. This was my plan, not to carry a near strike price. We can see an easy 100 point movement in this scenario. Coming to my option of selling, I have an overnight position. CE 17500 and PE 15400. This trade gives more than a 1% Let's see how it is going to end this week and I will roll up my positions with caution.
NSE:NIFTY
by Manuadarsh
Putin effect, Where we can expect expiry. Look at VIX. Where is it now. indicating the crazy movement will continue. Any news can drive the market's movement. stepping into the last week of the month with caution. Monday opened with a gap down and then started a recovery, then fell again. Today it opened with a huge 300 point gap. Think about it. Carrying over night positions is risky. As a trader, we have to look for good premiums everywhere. Make use of it and make sure you won't get stuck in volatility. Looking at the price action, it is good to see that 16850 took support and bounced back. When it comes below 17000, there is buying happening. A good sign. Also, keep an eye on that. If it breaks with strength, we can see a larger move. Above, there is a trend line. I will keep an eye on these levels. Below 16850 and above 17350. Coming to my option selling, I am already sitting on top of nearly 1.5% profit, having booked 0.8% profit. I started selling calls on Friday and I expected negativity. I took 17850 CE at a good premium at the closing time. Monday gap down opening and the CE almost melted. I held on to it, and today I booked profit. I entered into the PE side at 15850 too far with a really good premium VIX spike to help get that and the CE side at 17550. The current position is good now, one point CE side give me bit worry. My plan for the week's PE side almost melted if Tmro gapped down. I will hold my PE and adjust only the expiry day and worry about my CE side because of the VIX spike. If my SL did not meet the price, then my plan was to hold the CE till 17450–17470 and roll up the PE to 16850. Otherwise, just make adjustments. expiry day only.Let's hope we can end this week on a high.
NSE:NIFTY
by Manuadarsh
1
Not a calm expiry but a nifty pause Looking at the chart of 200 point intraday movement now becomes calm expiry. but it's good to see nifty in a range of 17400 to 17200. Option sellers make money, but premium spikes are crazy. Price action speaks. After a trending market, there is a consolidation. That is how the market behaves. The market is still not stable. Global clues are still confusing the market. We can see more news-driven movements. Let's keep an eye on 17450 and 17250 for the last 2 days, respected. Let's keep an eye on these levels. If any of these breaks, we can see another quick move from here. Coming to my option of selling the sitting on top of near 2% profit this week. On Wednesday, the market gapped up, so I booked profit on my 16700PE. When the market started moving down, I was able to get the same position with a good premium, and I averaged the PE side twice, which added good profit to the PE side. I roll down to my CE of 17700. At the end of the day, I rolled my PE to 16900. At the end, my 16900 showed some red, but I had already booked some good profit from 16700, so the position was all good. I hold on to it. When the day started, my position almost melted away. I booked a profit. The market moved down and took support at 17250, a good premium spike of 17900, with the same safety roll down to my CE of 17600. I was expecting a quick down move, so I entered 17500CE and it went and hit SL. After that, it moved my positions to the downside, 17200PE and 17450CE, ending the week on a high. but i was bit worried about the premium spike SL set up saved from the volatile day. 17500CE only hit SL. End the week on a high.
NSE:NIFTY
by Manuadarsh
NIFTY, the worst day and best day.  Feb 3rd weekHow crazy is this., Last Friday was the worst day since the last 10 months and today is the best day since the last 12 months. This volatile and continued type of movement kills non-directional option sellers. Looking at the chart, the global weakness, the market opened lower and kept moving down. We all know the 16850 level has been respected multiple times. Monday it b.k. and closed just below 16850. Today it opened with a gap up and took support at 17850, a 500 point sharp movement. Let's see if we nifty follow last week's pattern. major level to watch. If close above 17450, the next level to watch is 17600, and if we close below 17200, the next levels to watch are 17100 and 16850. If we close lower than 16850, we could see a larger down move. Also keep an eye on the triangle pattern in the NIFTY Daily time frame. Coming to my option Selling Due to the global weakness, I waited to sell my option at 16850. After 11, it showed trend reversal once it crossed the day high. I entered at 16700PE sharp move, not confident about selling CE because of the high premium spike. At 3.10PM, I entered in to 17850 at a good premium. Right now I have a 16700PE and a 17850CE. My current positions are green. My plan is to hold on to my CE and roll up my PE if the nifty stays above 17400, and if the nifty stays below 17400, I will roll up my CE. If that happens, let's see how it performs this week and after the trending days, expect a consolidation. If that happens, we can hope to end this week on a high.
NSE:NIFTY
by Manuadarsh
Volatile continues where we can expect expiry. Feb 2nd expiry.Many days of volatility, we can say that the year began with volatility and that it continues, I would say. This Monday, it was b.K. 17400, which was an important fib 0.5 level. Once it is taken out, it is a proper down move. We all know that the importance of the 17000 to 17080 rage is that the rage acted as a support and bounced back again, multiple times, to 17450. A roller coaster ride for option sellers. Tomorrow, the RBI's policy meeting. interest rate fear will be there. Let's see how it ends tomorrow. If it continues above 17400, the next level to watch is 17600. On the down side, if any violation below 17350 rages, today's consolidation weakness is still there. We can expect a further decline in prices. I am coming to the option of selling this week. Good for me. I have already booked a profit of nearly 1%. On Monday, nifty b.k 17400, I sold 17400 naked and gave a good profit, and on Tuesday, I entered my 17800CE position and waited to enter the PE side once it took a reversal. I entered 16550. The market moved up. profit in both PE and CE. I am coming to the option of selling this week. Good for me. I have already booked a profit of nearly 1%. On Monday, nifty b.k 17400, I sold 17400 naked and gave a good profit, and on Tuesday, I entered my 17800CE position and waited to enter the PE side once it took a reversal. I entered 16550. The market moved up. profit in both PE and CE. Today's gap is filled with consolidation. I rolled up my PE to 17050 and my CE to 17700. I am holding on to it. This week I'm going to be super conservative because of last week. If nifty, open with a gap up. If it tries to break 17600, I will roll my CE PE up. If it goes below 17200, I will roll my CE down and I will probably exit the PE side if it goes below 17150. Otherwise, I could end up with this week's above 1.5%.
NSE:NIFTY
by Manuadarsh
Profit booking kicks in at expiry. Start the month on a high.It was expected to have a gap up opening, but it opened with a flat and moved down. If you look at the chart, the negative sentiment in IT stocks dragged the NIFTY down. The nifty filled the gap and settled near 17500, and the trend line also broke. Let's see if the profit booking continues or not. If the range breaks more down, expect nifty 17400 and banknifty 38800. Bank Nifty 39000 good level can make a good move from here, it will be a break out level. I'll keep an eye on nifty 17800.I was at above 1.5% profit for the day. I kept rolling my put to 17500 and called 18050 yesterday. I booked profit on both mornings. I kept my put up to 17550, waiting to enter the call side because there is not much premium. Then I entered into 17850 CE but the nifty kept falling and my 17550 PE hit SL twice today. I nearly lost 1% trade. Profit went up nearly 2%. At one point in time, 17550 eats my half of the profit, and I firefight roll my call to 17700, and entering 17550 again ends up with nearly 0.8% profit. Because I held on to my PE side banknifty took good support at 39000, expecting a quick buy, because I was not that confident about the selling call. I hope everyone had a great budget week. In the coming days, I'll keep a close eye on Banknifty at the mentioned levels.
NSE:NIFTY
by Manuadarsh
Crazy month expiry.!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.
NSE:NIFTY
by Manuadarsh
Going to end this month, Crazy expiry.Look at the chart and see where we are now and how we started this month. This month started with a positive note and kept moving up and up. It is a clear up trend. It took a nifty 14 days to reach 18350. Just five days to keep the nifty dragged down. We have multiple global news sources to follow the down move. But think about the option sellers who hold long positions, vix shoot up to 20+ all eyes on US fed meeting. let's see how it is going to end this month. It is very important that where nifty is going to open on Thursday, we have important levels to watch above 17350,17500,17550 below 17200 major level 17000,16800. I have 17650 CE and 16550PE as well. I will keep book my profit already in 16100 PE and 18050CE, with 17950CE near 0.5%. My plan for Thursday is for the nifty to move up. I will keep 17650CE till the nifty crosses 17550-17500. Keep my PUT up. If it goes down, I will bring my CE down and adjust PE as needed. if there is a gap up or gap down opening above 17550 my limit, and below 16800 I will make adjustments accordingly. If things go well, I hope to exit with a profit.
NSE:NIFTY
by Manuadarsh
1
Exit is more important than entry! NIFTY at 17750.It is a properly trending market and interesting as an option seller like me has to put so much work into it, not to make money but to protect the capital. That is what option sellers do. Looking at the chart, the Nifty now at a discounted price exactly took support at 17650. It is a major level because 50 EMA is there and a fib line. Let's see how it is going to react to nifty inflation worries and global clue. Coming to my option, I was kind of proud of that position, till Nifty Broke 17770 (1 PM) . One it being taken out, just wash out my green P & L. 17750 premium spike a lot. In the meantime, I booked my call position and exited with a near 1% loss. You know, like I protect my capital well. On the call side, 18150, 18100, 18050, 17900, one point I sold, 17850, and ended up with a lot of positions this week only because of 17750PE.We have one more expiry for the month. This month was not that great for me. I hope everyone had a great month. Let's get to the last day of the month to end this month with just 1%.
NSE:NIFTY
by Manuadarsh
crazy gap down, simple expiry.What an expiry today, with interest rate fear taking nifty down. Look at the chart. There was a huge gap between the opening and the consolidation. Looking at the nifty 5 minute chart, there is a strong upward trend, supporting 50 EMA. Every time the Nifty is at the 50EMA,  good buying activity. At one point, it indicated that it was about to cross the 18000 mark. But as we saw, the channel was created with respect to Nifty, and yesterday it was above the line at 18,000. Price action is at an important level, and profit booking may begin from there. I was expecting that. In the coming days as well, I will closely watch the 18000 level. If it tests again, rejects, or consolidates below the level, it might break out from there again. But with a positive global clue, it's hard to bark at the 18000 level. Keep an eye on FII DII activity. If FII starts buying and DII is still buying, but if DII starts booking their profit, the power of the nifty might slow down. Let's keep an eye on all these activities. When it comes to my weekly option selling this week, I am in the green. But I haven't booked the loss for the 13th expiry (17300 PE). If I book the losses, my net profit and loss will be close to 2%. This 50EMA buying activity helped me to get out of huge losses this week. And I had 17650 PE and my 13th expiry (17300 PE) yesterday. I booked other positions with Profit. Because I was expecting a retest, I took this safe position. The day began with a gap down, which allowed me to exit with a good profit. On the PE side, there is a premium spike, and there is a massive spike on the 17550, 17600, and 17650. My plan for the 13th expiry (17300 PE) is to sell anything above it with a good premium to minimize the losses. I will keep adjusting on my call side as well. I hope I can manage a 2% loss while trying to keep the net P & L green.
NSE:NIFTY
by Manuadarsh
Entering into the Christmas Sale Weekly Expiry NIFTY50In this December month, we were blessed with five expiry dates. I would say that the last three expiry dates are like a roller coaster ride, highly volatile. We are entering our 4th week now, and it is a technically correction mode. Technically, a 10% drop from the recent high is referred to as a correction. Look at Nifty50 on Monday. It opened with a huge gap down and the panic selling happened because of the major levels where we know it was taken out. 17000 and 16700. This range is important because it is 10% from the recent high and also a fib range. After the range was broken, the NIFTY50 made a new week low near the 16400 level, then pulled back and closed above 16600.This kind of pull back kills aggressive traders. Tuesday opened with a near 0.96% gap up. Think about it! NIFTY50 as well as a strong rebound. It closed above 16700, so it looks good. In NIFTY50, we can expect the major levels to turn into resistance like Nifty did. Today, resistance is near 17950.We can expect the 17000 level to continue as resistance for the week, so I would be confident about selling at a strike price above 17200 on the downside of 16400 for a safe trade. Keep an eye on the daily candle as well. There is a doji candle . We can expect moments in both directions Make a decision accordingly.
NSE:NIFTY
by Manuadarsh
Calm volatile expiry. NIFTY50Well, we can skip the gap up fear. It's nice to see such a peaceful volatile expiry today between 17350 and 17150. The bottom side was beautifully respected, 17000 till now. We can say the market respects price action as well. From here, the nifty will either consolidate or break imp levels. My eyes will When FIIs start to support the market, After the US announcement Keep an eye on IT stocks in the coming days; they appear to be doing well right now after NASDAQ showed a recovery.
NSE:NIFTY
by Manuadarsh