Premium Eating Strategy - BankNifty Weekly Options

[govindheg]

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

@mycall, yes pls. Thanks

 

[ybha]

8pt = 320/-

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

I should be keeping about 310/-

Who is your Broker ?

 

[mycall]

Who is your Broker ?

Finvasia

 

[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

Below is my Contract Note image. I got 319.22 out of 320.

 

[mycall]

I used to trade initially with IIFL in 2009... I used to pay 100+ per lot of options
Then shifted to Zerodha in 2010 (I guess)... used to pay about 50 per trade in options...
Then shifted to RKG... used to pay about 30+ per lot in options
Now with Finvasia... now I am in peace.

My targets are generous and realistic:
Weekly 0.7%+
Monthly 2.5%+
Yearly 25%+

This Financial Year I have achieved 11.5% so far in four months.
July - 2.1% (so far)
Jun - 2.8% (missed 1 week)
May - 2.9% (missed 1 week)
Apr - 3.7%

First three months of this year as below:
Mar - 4.8%
Feb - 4%
Jan - 2.6% (missed 2 weeks)

1trade (delivery) costs me about 70k-75k... 0.7% is 525... which is about 13-14 pts per week... this is squarely gettable.... without much heartburn... so I always try to hit a trade which suits my criteria and having 10-12-15 pts... even if it is 10-11 pts I get in... then try to extract 12-14 at a later stage... by adjustment...

Closing positive is my motto. I know I can't win all the races... win some and loose some is the reality in life. I just try to make win count more by getting odds work in my favor as much as possible. I pull the plug the moment a trade hit my target. If target is not reached, I just ask myself if MTM is suitable for the market condition at that point of time and then get out.

Bottomline is every point counts... as one point equals to 40/- which costs me literally nothing.

Hope this helps.

 

[VJAY]

I used to trade initially with IIFL in 2009... I used to pay 100+ per lot of options
Then shifted to Zerodha in 2010 (I guess)... used to pay about 50 per trade in options...
Then shifted to RKG... used to pay about 30+ per lot in options
Now with Finvasia... now I am in peace.

My targets are generous and realistic:
Weekly 0.7%+
Monthly 2.5%+
Yearly 25%+

This Financial Year I have achieved 11.5% so far in four months.
July - 2.1% (so far)
Jun - 2.8% (missed 1 week)
May - 2.9% (missed 1 week)
Apr - 3.7%

First three months of this year as below:
Mar - 4.8%
Feb - 4%
Jan - 2.6% (missed 2 weeks)

1trade (delivery) costs me about 70k-75k... 0.7% is 525... which is about 13-14 pts per week... this is squarely gettable.... without much heartburn... so I always try to hit a trade which suits my criteria and having 10-12-15 pts... even if it is 10-11 pts I get in... then try to extract 12-14 at a later stage... by adjustment...

Closing positive is my motto. I know I can't win all the races... win some and loose some is the reality in life. I just try to make win count more by getting odds work in my favor as much as possible. I pull the plug the moment a trade hit my target. If target is not reached, I just ask myself if MTM is suitable for the market condition at that point of time and then get out.

Bottomline is every point counts... as one point equals to 40/- which costs me literally nothing.

Hope this helps.

Great dear mycall...
I have some querries...You close trade in same day or carry it for next day when you not get desired profit? what your profit target in these 12 point positions?Can you please eloberate the highlighted part with an example....too many Q's sorry to asking

 

[mycall]

Great dear mycall...
I have some querries...You close trade in same day or carry it for next day when you not get desired profit? what your profit target in these 12 point positions?Can you please eloberate the highlighted part with an example....too many Q's sorry to asking

Hi @VJAY ... no worries... hit me with as many Q's as you can... logical and realistic Q's... I will try to put my views on this...

Discussion and learn is the only way to move forward... there are many flaws in me... which I want to get rid off by discussing...

I will clear your queries in next post soon... I need to move somewhere right now... sorry

 

[mycall]

Great dear mycall...
I have some querries...You close trade in same day or carry it for next day when you not get desired profit? what your profit target in these 12 point positions?Can you please eloberate the highlighted part with an example....too many Q's sorry to asking

My primary goal for a trade is to reach my profit target set for the time frame. For that if it needs to be carried, yes I do. This is why I said my cost is 70-75k per trade.

Profit target per trade is 14pts... But I don't hold back if I get an opportunity to get in. There are ample options to increase profit points later on if the trade goes in favor. Every point matters to me as that drains me nothing.

Moreover there is no pressure to meet the target in one trade. Primary target is 0.7% per week, whether it is coming from one trade of multiple trades, it doesn't matter to me. To be specific, it doesn't matter even if I make a loss in a week, as long as, my monthly target is achieved.

I don't get you on what you require me to elaborate on. Can you please be more specific.

 

[VJAY]

My primary goal for a trade is to reach my profit target set for the time frame. For that if it needs to be carried, yes I do. This is why I said my cost is 70-75k per trade.

Profit target per trade is 14pts... But I don't hold back if I get an opportunity to get in. There are ample options to increase profit points later on if the trade goes in favor. Every point matters to me as that drains me nothing.

Moreover there is no pressure to meet the target in one trade. Primary target is 0.7% per week, whether it is coming from one trade of multiple trades, it doesn't matter to me. To be specific, it doesn't matter even if I make a loss in a week, as long as, my monthly target is achieved.

I don't get you on what you require me to elaborate on. Can you please be more specific.

Thanks for the clarity...i meant you said some adjustments?hope you meant adjustment as exit positions and enter in new positions...

 

[arunkarthik]

I used to trade initially with IIFL in 2009... I used to pay 100+ per lot of options
Then shifted to Zerodha in 2010 (I guess)... used to pay about 50 per trade in options...
Then shifted to RKG... used to pay about 30+ per lot in options
Now with Finvasia... now I am in peace.

My targets are generous and realistic:
Weekly 0.7%+
Monthly 2.5%+
Yearly 25%+

This Financial Year I have achieved 11.5% so far in four months.
July - 2.1% (so far)
Jun - 2.8% (missed 1 week)
May - 2.9% (missed 1 week)
Apr - 3.7%

First three months of this year as below:
Mar - 4.8%
Feb - 4%
Jan - 2.6% (missed 2 weeks)

1trade (delivery) costs me about 70k-75k... 0.7% is 525... which is about 13-14 pts per week... this is squarely gettable.... without much heartburn... so I always try to hit a trade which suits my criteria and having 10-12-15 pts... even if it is 10-11 pts I get in... then try to extract 12-14 at a later stage... by adjustment...

Closing positive is my motto. I know I can't win all the races... win some and loose some is the reality in life. I just try to make win count more by getting odds work in my favor as much as possible. I pull the plug the moment a trade hit my target. If target is not reached, I just ask myself if MTM is suitable for the market condition at that point of time and then get out.

Bottomline is every point counts... as one point equals to 40/- which costs me literally nothing.

Hope this helps.

Your expectations are very realistic and your overall strategy is very impressive. Thanks for sharing.



Cheers
AK