Banknifty Weekly Strategy

[suryameet25]

I traded with new strategy this week

Buy Banknifty Future
Sell current week ATM Call
Buy Current Month Put @ breakeven strike

and here is the result:
==============================
In my Zerodha account:

on 27th Feb
Bought Bnknifty Future @ 20706
Sold 2nd FEB 20600 CE @ 168
Bought March 20600 PE @ 346

Total Profit/Loss
Future 20706-20608 = -98
2nd FEB 20600 is @ 0.05 = + 168
March 20600 PE sold = 366-346 = +20
Total = -98+168+20 =90 points
============================

In NSE Pathsaala account:

Same time 27 FEB
Sold Future @ 20706
Sold 2nd FEB 20700 PE @ 145
Bought March 20800 CE @ 330

Total Profit/loss by taking today's closing price.
Future = 20706 - 20626 = +80
2nd FEB 20700 is @ 126: 145 - 126 = +19
March 20800 CE @ 282 : 330-282 = -45
Total : +80+19-45 = +54
===========================

As you can see this strategy works for me in both the conditions.

I was already making profit from 28th FEB but I want to hold it till expiry to see the result and today I got this.

Margin Used: 80K
Profit = 90*40 = 3600
I think its around 4.5% in 4 days only.

 

[yoursonlyvinu]

I traded with new strategy this week

Buy Banknifty Future
Sell current week ATM Call
Buy Current Month Put @ breakeven strike

and here is the result:
==============================
In my Zerodha account:

on 27th Feb
Bought Bnknifty Future @ 20706
Sold 2nd FEB 20600 CE @ 168
Bought March 20600 PE @ 346

Total Profit/Loss
Future 20706-20608 = -98
2nd FEB 20600 is @ 0.05 = + 168
March 20600 PE sold = 366-346 = +20
Total = -98+168+20 =90 points
============================

In NSE Pathsaala account:

Same time 27 FEB
Sold Future @ 20706
Sold 2nd FEB 20700 PE @ 145
Bought March 20800 CE @ 330

Total Profit/loss by taking today's closing price.
Future = 20706 - 20626 = +80
2nd FEB 20700 is @ 126: 145 - 126 = +19
March 20800 CE @ 282 : 330-282 = -45
Total : +80+19-45 = +54
===========================

As you can see this strategy works for me in both the conditions.

I was already making profit from 28th FEB but I want to hold it till expiry to see the result and today I got this.

Margin Used: 80K
Profit = 90*40 = 3600
I think its around 4.5% in 4 days only.

So this strategy we have to use in two accounts..... Can u suggest any good strategy for intraday bank nifty

Sent from my Lenovo A2010-a using Tapatalk

 

[suryameet25]

So this strategy we have to use in two accounts..... Can u suggest any good strategy for intraday bank nifty

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I am not saying to use this strategy in two accounts. I just put the another one to show that we will still make profit if we are wrong in trade.

 

[suryameet25]

Again entered with same strategy:

Long BankNifty Future @ 20530
Short 9th FEB 20400 CE @ 195
Bought March 20300 PE @ 269

Let's see what happen this week..
Also I am not going to hold it till expiry.
:thumb::thumb::thumb:

 

[Purushotham]

Again entered with same strategy:

Long BankNifty Future @ 20530
Short 9th FEB 20400 CE @ 195
Bought March 20300 PE @ 269

Let's see what happen this week..
Also I am not going to hold it till expiry.
:thumb::thumb::thumb:

Thanks,

What is the result if BNF Close on 9th feb is 20400. May be loss.

 

[suryameet25]

Thanks,

What is the result if BNF Close on 9th feb is 20400. May be loss.

No, I will be in profit of around 100 points.. Because if BanknNifty Close at 20400 then 20400 CE sold will be a 0
And if bankNifty close at 20500 then 20400 CE will be 100 only..

And I sold it at around 195..

 

[suryameet25]

I modified this strategy from weekly to monthly. And now its completly hedged without a single point of loss. And we can close our complete Trade anytime in profit.

#Never Close losing position. Book profitable position and create a hedge for the losing one and wait for the market reverse.#

What I have done is:

Buy Future
Sell 2 ATM Call Current month
Buy current week Call & Put at breakeven (See attachment)

So, as per my sheet:
Bought Banknifty March Future @ 20863
Sold 20800 Call @ 426 x 2

My upper Breakeven: 21500
My Lower Breakeven : 20100

So, I bought 2nd march expiry
21300 Call @ 22
20300 Put @ 18

These prices are from today closing.

Now let's calculate pofit/loss

We will still make good if there is a big gap opening of around 500- 700 points.
OR market goes above/below 1000 points we will make at least 250 points in every condition.

Market conditions each week:

1. Banknifty is range bound:
If market remain rangebound for this week then we will only loss premium paid for current week expiry but will make more from 2 call sold.
At the end of current week expiry we will buy net week Call & Put at our breakeven points. this will not cost you more than 40 points for both.

2. Banknifty is at our lower Breakeven
Our current week Put will make money for us + 2 Call Sold will be in a great profit.
Close all these 3 positions and now sell another 2 current Month ATM Calls. And Calculate your breakeven. At breakeven buy next week Call & Put.

3. Banknifty is at our Upper Breakeven
Banknifty Future + Current Week Call will make more for us
Exit Banknfity and Current week Call.

And buy next week 2 ATM Call. and wait for the market to reverse.

=========================

We are giving 1000 points space for banknifty movement. Let it move...

Total Profit/loss till now:

Future = 20863 - 20544 = -319
20800 Call = 426 - 233 = 193*2 = +386
21300 Call @ 22 = -22
20300 Put @ 18 = -18

Total = -319 +386 - 22 -18 = +27 points
:clap::clap:

Now again Bought by breakeven for current week:
21200 CE @ 6.50
20100 PE @ 35

Let's see after current week expiry.

 

[Purushotham]

No, I will be in profit of around 100 points.. Because if BanknNifty Close at 20400 then 20400 CE sold will be a 0
And if bankNifty close at 20500 then 20400 CE will be 100 only..

And I sold it at around 195..

what about the 20300 PE??

 

[suryameet25]

what about the 20300 PE??

My lower breakeven is 20100
Last time 20300 was cheap to buy so, I bought 20300 instead of 20100

Now I bought PE at my breakeven point @ 20100 due to high cost of 20300 PE

 

[suryameet25]

My both weekly and monthly strategies are mixing up here. So, I am moving my monthly strategy to http://www.traderji.com/options/104191-banknifty-monthly-strategy.html

This thread is only for weekly strategy.