Newbie:: Needs advice reg my recent transaction

[mansideep]

Hello All,

I am pretty new to F&O and online trading. Just need some info and confirmation whether my transaction I have done is correct or not. Otherwise I would land up in deep trouble. experts please help. Here is my transaction details for 2 days in OPTIONS trading::

2Jun09::
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Bought 25Jun09 CA of XYZ ltd @ Rs11

3Jun09::
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Sell 25Jun09 CA of XYZ ltd@ Rs13
Sell 25Jun09 CA of XYZ ltd @ Rs15.50
Bought 25Jun09 CA of XYZ ltd @ Rs13.50

Please advise whether I am ok in case of squaring off my position for the days. I mean to ask as in the second time I sold the options contract at high price and I bought at the lower price, did it squared off my position , I am correct? Please advise. Appreciate your time and thanx in advance.

Regards

Mansi

 

[AW10]

Your first trade was standard long trade where u buy first and sell later. Assuming that all txn for 1 contract, you had overnight position on 2nd june and it is closed on 3rd when u sold it at 13.
By selling another call at 15.5, you opened a short trade (where u sell first and buy later). This short trade was closed correctly by buying it back.
So in both trades u made profit of 2 rs * contract size. Check out on brokerage cause u might be paying higher brokerage for overnight trade (yr first trade)and low for intraday (yr second trade).

Not bad trades for a beginner. Pretty good. Hope u can sustain this performance over long period. Don't let his win fool you that u have masterd the profession of trading.

Happy Trading

 

[mansideep]

Hi AW10,

Thanks a lot for your reply on this thread. I already confirmed the trade on my P&L statement in my account. BTW my brokerage for inter and intraday is the same as they charge Rs 75 per lot fixed. No other charges. Any other online brokerage who has lesser brokerage can let me know. Thanks.

Mansi