Does it mean, that you will not adjust this position further.. And like your other strategy, only two adjustment are possible..?
It depends upon the movement... my intention is to adjust delta a bit and narrow down the range... 1st Aug is RBI policy... and 2nd is our expiry...
This euphoria is due to this policy... after govt's win in confidence motion... perception changed... along with that RBI policy (1st Aug) is there... so some great expectations among participants are getting reflected in market... NF already broken last life high and BNF is on the verge of breaking...
So I am taking my chances by adjusting delta a bit and primarily narrowing down my buy range so that if some knee jerk reaction comes on 1st Aug... I am not caught at the wrong foot here...
In my position shifting strike is a risky affair... that makes my short strikes to overlap... blocks some points off my plate... in case it reverses..
Also as I said earlier... option trading is a psychological game... maximum manipulation done using options only... during such events retail traders like us get interested in deep OTM options to earn quick buck... big players are very very wise to gauge that mood...market makers are pressed into service... smart money comes in... and then we know what generally happens in the end...
And like your other strategy, only two adjustment are possible..?
No... both the strategies are completely different...