13jul2015
"idle man's mind is devils workshop"
so i decided to try out diagonal spread since you have another two weeks for the expiration and can't short strangles till then.
basically diagonal spreads are to buy long term options and sell the short term one.
so
long jul 18800CE ATM at 207 or so and
sold 14jul weekly 19000CE at 20 or so
then i realized that this is a peanut which i am trying to achieve on the sell side. so sold 21jul weekly 19000CE additional at 56 or so.
could not stomach 2 sold options overnight and hence covered the 14jul option for a small profit.
14jul
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today the long jul monthly 18800CE became in the money and the shorted 21jul weekly 19000 was also close to becoming in the money.
the spread was slowly coming close to 2000 profit. in order to reduce the risk of weekend gap i decided to close the spread at around 3.15 p.m.
so i was putting SL-M order at lower price for buying back the shorted weekly and higher price for the selling back the bought monthly option by pressing the exit button of my open positions.
i was doing this all from my mobile. kite was showing 2000 plus and i was quite exited because i made 2% in 2 day far better ROI than the strangle.
in this process i had put 4 buy orders in total. so one ended up squaring off the weekly sell option and the other 3 are open. i was shocked so i have now 3 x 19000CE buy positions open which i never wanted in the first place.
inexperience is costly. now i am praying all gods that the market should not gap down next monday and should atleast start from the same place where it closed today.