My Bank Nifty Options trading diary

you trade only banknifty options?
nifty ka option kyu nahi bhai?

Kabir,

Only because Bank Nifty has weekly option which I can short like mad and bank it within a Week.

Good news.

Yesterday I banked another 400 Rs. I think am almost broken even now and signs of more and more green rupees in the sight :rofl:

Edit: Wrong thread

Taking about Rs 6000 to the bank and leaving about Rs. -5200 unrealised on the table. if I just make the unrealized to zero, its a whooping 8.5% for the month without including the brokerage refund from Z

Earlier, I had taken out Rs. 6000 profit and had to give back 5000 to the market due to HDFC gap up. However, I rolled up the LONG side of the PUT to 500 points. I have profit of about 1.5% net profit so far this month. However I have triple that percentage on the table as unrealized loss. this could be due the fact that we have a shorter month and volatile condition of the market did not favor me.

Left about 2800 unrealized loss yesterday. today its 2694. looks better isn't it. Eventhough about 3 percent is taken to the bank today, it is actually added to the unrealised loss to the long PUT. We will also make more when the Long becomes further OTM and the Delta has lesser and lesser impact on its premium. Somewhere at this point we need to SELL a fresh weekly OTM put for a Fat premium at the beginning of the week. If we manage to survive all scares as the price comes down we will be taking a chunk of the premium to the Bank without actually having much movement in the underlying.

The horizontals and diagonals are going to be more profitable only when we have whipsaws on the longer timeframe, say daily and weekly.

Got about 5 points today and had to roll up the long another 500 points. the rolling does not have any immediate incentive. if only 21000 remains top for one more week then i could bag considerable amounts of points just with theta without any real work. Whatever that comes due to additional legs are going to be profits.

after adding the 20900 leg first it showed a unrealistic profit of about 20+ points but most of it vanished in the process of trailing 20600 overnight short.

then the retracement was getting bigger and bigger. we now know that the long since its distant from the current price will not gain equivalent premium. so legged in another 21000 monthly long.

afterwards the fresh long was slowly going into red after shedding the initial gains. so the overnight long was exited for some loss. (from the profit we made through this week). now we are left with fresh long and short about 500 points above our earlier zone.

Thanks GoldenTrader. freeimagehosting really saved my day.

.. and there is a bonus. I am recording my trades in the additional sheet called "positions". The advantage is I can now record both my open and closed positions for that Calendar (spread). I am also able to record the running delta and theta alongside my open positions. It just tells you if you are deviating more the neutral position.

so you will not have my positions here on TJ. of course you will find my chatter and i hope you could bear with me :lol:

i was thinking of mistake i make in the order management. in tennis they talk about unforced error where you hit the ball to the net. you lost point there not because your opponent did a good return but because of your mistake while hitting the ball.

today some losses in my trades happened something similar to this where i failed to place correct orders on 2 occasions.

one) when i sold additional leg instead of trailing my overnight sell order by placing a SL order above LTP, i placed it below. whats worst. i was not looking at it and my concentration was else where. by the time price moved far above making me to buy the overnight position at a higher price.

two) when i place additional order i should first trail the original profitable order. today when BN was about to go down above 100 points down, thats where i put the additional order. so my order filled for just 1 point away from the original top and since i did not trail my other order, i lost much points.

which one is better trail first and then place the additional order or vice versa.