Option Trading journal

[Somatung]

@Renjith paul

Any updates here after this super nice up move in Nifty? Did you act or close the trade or did you even have a third idea to handle now this? Other wise your loss is heavy, at least at the moment. I do not have any idea about any of your stop loss amounts you are willing to loose, but now it gets heavy. You not have to answer. Take care

 

[renjith paul]

yes
what u said is right .i am in aloss position now. but My BEP are 7100 and 6450.So whatever happens in next few days i will be hedging my loss position after the market moves either south or north beyond BEP.Till then i'll be holding positions.
My Plan is to buy Nifty futures if Market going North Or to sell NF if sliding twrds South.Atleast one of my Position will be in profit.

 

[trader_ks]

Ranjith
I can see high risk in your stratagy. As you have sold 4 lots so assuming that you try to take 4 lots of nf. Any uncertain move in nifty will result in huge loss .
are you planning to close position before 16th or will carry forward till result?

 

[renjith paul]

Option Strategy Closed today as below

bought back 6450 Pe @ Rs 5/-(4 Lots sold @ 93)
bought back 7100 Ce @ Rs 220/-(4 Lots sold @ 117)

sold Nifty futures @ 7250 ( 4 Lots bought @ 7130 on 13th May)

Profit booked = 21000/-

 

[aditya14]

Option Strategy Closed today as below

bought back 6450 Pe @ Rs 5/-(4 Lots sold @ 93)
bought back 7100 Ce @ Rs 220/-(4 Lots sold @ 117)

sold Nifty futures @ 7250 ( 4 Lots bought @ 7130 on 13th May)

Profit booked = 21000/-

Stop trading and reassess what ur plan was and why u kept ur trade open.U mean to say that u held 4 lots 7100Ce short one day before election naked and when it moved to 550rs u kept it open?

Or if the market had 1-2 down circuits? no SL no nothing just strangle before a big event?

Second inning wud have finished yesterday.Have a stop loss and contingency plan in place in future.