Premium Eating Strategy - BankNifty Weekly Options

[VJAY]

Expecting a bounce back... exited from yesterday's position (CS @ 27200) at a credit point 2.95... hoping another opportunity to re-enter and capture a few extra point.

Well... within next few mins it presented me with the opportunity and I re-entered same position @ credit point 6.95

Dear mycall,
How you use orderscfor entey exits?as its OTM positions so getting in and out at desired rate is accurate...please share your order execute style?you use multi orderwindow in a one click both orders execute?or go with one by one?

 

[mycall]

Dear mycall,
How you use orderscfor entey exits?as its OTM positions so getting in and out at desired rate is accurate...please share your order execute style?you use multi orderwindow in a one click both orders execute?or go with one by one?

I use NOW terminal... Basket Order for entry and Admin Position SqOff for exit.

 

[mycall]

I took Main Short and Current Series buy on 6th July Friday morning

Shorted main series 26500 PE+CE @ credit points 664
Bought current series 26000PE and 27100CE @ debit points 42

Friday 3.28 enhanced my positive delta by buying current series 25900PE and 27000CE @ debit points 35.3... I was expecting either gap up or down or first 15min candle of about 100-150pts at least

Today 9.30 I exited the positive delta position @ 40.6... taking a profit of 5 pts

At 3.28 I exited my original position

Main Series shorts @ 626 credit points... taking a profit of 38 pts
Current Series buys @ 26 debit points... taking a loss of 16 pts

Cumulative profit of total trade 27pts... meets my weekly target

Will see if I can find any opportunity of applying other strategies during next three remaining days

I exited the above position on 9th July with a cumulative profit of 27 pts...

I continued tracking it to see its outcome near expiry

It went to negative yesterday... at this point of time it is again giving a profit of 29 pts

 

[mycall]

Dear mycall,
How you use orderscfor entey exits?as its OTM positions so getting in and out at desired rate is accurate...please share your order execute style?you use multi orderwindow in a one click both orders execute?or go with one by one?

Forgot to mention... I track Bid/Ask... not LTP

Thank you.

 

[mycall]

Today at last minute I closed my trade CS at 27200 @ 1.3 credit pts.

Total Profit from this week's Credit Spread Strategy = 13.3pts [(10.60-2.95)+(6.95-1.3)]

This strategy is working good for me.

Friends... please do paper trade for a few months on both the strategies to have a feel how these are being done. Do your own research and modify these as per your own psychology and risk appetite. Once you are ready to go, start with 1lot or 1pair only. Unless we start putting our own money, CONFIDENCE will not build up. No matter how much we study or research.

If there are any aggressive traders / traders with higher risk appetite, I will discuss another non-directional weekly option strategy. Please let me know if any one is interested.

This one I use as a mix with my CS strategy when my gut feeling says I can get away with it without much harm. I am a super conservative trader.

My only intention of starting this thread is to share my 8-years long experience trading options with fellow traders, which at least save them from unknown harm. But, the caution is if one thinks that he/she can just copy the strategy/trades and get away, I am sorry. It is not so easy.

Please learn option trading... which will save much of the 'heartburn' available for free with stocks/future trading. This will help anyone with knowledge and patience to earn minimum 2% a month on the capital invested.

Once you become more experienced and confident the yearly return will hit a minimum of 30-35%.

Thank you.

 

[sreperu]

Today at last minute I closed my trade CS at 27200 @ 1.3 credit pts.

Total Profit from this week's Credit Spread Strategy = 13.3pts [(10.60-2.95)+(6.95-1.3)]

This strategy is working good for me.

Friends... please do paper trade for a few months on both the strategies to have a feel how these are being done. Do your own research and modify these as per your own psychology and risk appetite. Once you are ready to go, start with 1lot or 1pair only. Unless we start putting our own money, CONFIDENCE will not build up. No matter how much we study or research.

If there are any aggressive traders / traders with higher risk appetite, I will discuss another non-directional weekly option strategy. Please let me know if any one is interested.

This one I use as a mix with my CS strategy when my gut feeling says I can get away with it without much harm. I am a super conservative trader.

My only intention of starting this thread is to share my 8-years long experience trading options with fellow traders, which at least save them from unknown harm. But, the caution is if one thinks that he/she can just copy the strategy/trades and get away, I am sorry. It is not so easy.

Please learn option trading... which will save much of the 'heartburn' available for free with stocks/future trading. This will help anyone with knowledge and patience to earn minimum 2% a month on the capital invested.

Once you become more experienced and confident the yearly return will hit a minimum of 30-35%.

Thank you.

Hi mycall,
Thanks for your concerns. Please share the strategy for aggressive traders.

 

[mycall]

Taken a Credit Spread at 27300CE/27400CE @ 12.20/3.70

 

[mycall]

Exited from position 27300CE/27400CE @ 1.00/0.50

Profit booked = 8 pts

 

[arunkarthik]

Exited from position 27300CE/27400CE @ 1.00/0.50

Profit booked = 8 pts

Hi

How would a profit of 8 points make a good cut after shaving off the brokerage? Or do you have multiple positions on this one and you’re quoting just one for people’s reference?

I’m just curious. Thanks.




Cheers
AK

 

[mycall]

Hi

How would a profit of 8 points make a good cut after shaving off the brokerage? Or do you have multiple positions on this one and you’re quoting just one for people’s reference?

I’m just curious. Thanks.




Cheers
AK

8pt = 320/-

Brokerage is NIL. Tax will be about 10/- max

I should be keeping about 310/-