Nifty Options Vertical Spread Trading

ananths

Well-Known Member
#21
Pivot levels for the day,

R3 - 5856
R2 - 5809
R1 - 5743
Pivot - 5696
S1 - 5630
S2 - 5583
S3 - 5517

Overall market is in downtrend and it is worth being bearish.however today or this week market can bounce because it looks like oversold..but volume was above average last week. So today I will wait before taking any trade..first 1 hour will decide today's direction..:thumb:
 

ananths

Well-Known Member
#23
@ ananth, how would u manage positions closer to xpiration. The otm offers little or no delta.;)
Good question!. I prefer no trade or start trading in next month options.
One more thing...if the market is range bound and not trending..then its worth trading credit spread instead of debit spread :thumb:
 

ananths

Well-Known Member
#25
Today´s trade. Order placed when nifty was around 5700.
Buy 1 lot 5800CE @ 87
Sell 1 lot 5900CE @ 47
SL - 5650 levels. Nifty made a low of 5666 today.
Disclaimer -pls do not trade based on this. Im not responsible for the risk. This is for tracking only.
 

ananths

Well-Known Member
#26
Did not close the position today...because my SL did not hit. Currently about 6 points loss in the spread...will carry it for tomorrow.
Note:- if it was a naked option i would have closed it :) at 70..bought at 87.
 

ananths

Well-Known Member
#29
Covered yesterdays 5900CE short at 21..
5800 CE @ 55 loss 33
5900 CE @ 21 profit 26
Net loss = 7 points
 

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