How to handle this Open position


I bought call option of FEB - [email protected] at premium of 78.50.
The LTP is now at 70 and spot price is at 2855.

What should I do now ? Is there any best strategy to minimise the losses ?

Iam using ICICI direct.I have the following questions pertaining to what I can do using ICICI direct

Is there any way I can sell this contract at 70 atleast? If so how ?
Is there any way I can take the delivery of the stocks?If so how?

This is my first trade in options and badly needed your guidance.



Active Member
Hi mb123,

You have the following alternatives,

Sell at cmp and take the loss. or

Sell a 2900 call , that would make it a spread, the premium ( currently at 30)recd should offset your loss to some extent and manage the trade from there. or

Buy a 2850 put, now at 57. This would mean you need a 135 point move just to break even. Tough.

Take your choice.
Trade well

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