Considering the high volatility, my strangle that i created on Friday with 7500PE and 8200CE to capture time decay is not going to become profitable soon, will have to wait maybe till the end of the month. After reading the excellent and logically explained analysis of option data by HealthRaj (for which I am grateful), I have put a stop loss order to purchase 7700PE at Rs 53 to hedge my short puts. Target is 7750. As of now, the limit price has not been reached (11.00 AM)
Update at 3.30PM: Bought puts and sold at a loss. Strict stop loss is necessary in addition to analysis. Maybe tomorrow will bring better luck
Update at 3.30PM: Bought puts and sold at a loss. Strict stop loss is necessary in addition to analysis. Maybe tomorrow will bring better luck
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