We got to see some real volatile moves in Nifty and Bank Nifty today in the second half.
Usually, such ferocious gyration sweeps SL of all intraday traders (long & short both). First nifty made new high, then back in negative zone.
We all knew markets would remain undecided by the end of day. I entered Bank Nifty combo around 2 PM. By then, premium erosion was almost over. Took straddle combo at strike price 23300 (both PE & CE) with total cost of 147 (71 + 76). Sold the same combo @ 172 (i.e. 40 + 132). Total profit 17%.... Done for today. Its always hard to find trades on such neutral days.
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Usually, such ferocious gyration sweeps SL of all intraday traders (long & short both). First nifty made new high, then back in negative zone.
We all knew markets would remain undecided by the end of day. I entered Bank Nifty combo around 2 PM. By then, premium erosion was almost over. Took straddle combo at strike price 23300 (both PE & CE) with total cost of 147 (71 + 76). Sold the same combo @ 172 (i.e. 40 + 132). Total profit 17%.... Done for today. Its always hard to find trades on such neutral days.
Sent from my HTC Desire 728 dual sim using Tapatalk