Put option writing

#81
Current outstanding Option trades
UNIONBANK Sold PE NOV 125 @4.6
UNIONBANK Sold PE NOV 130 @6.6

Recent Trades

None

08/11/2013 EOD Setup

NIFTYtoday broke support 6177 and drifting lower but still in consolidation mode and need follow up action on monday .Any close below final support 6096 on monday can only attract selling. Slight resistance is at 6185 and then 6260

NIFTY IV is very low in November series puts and market seems to be very confident of not going down any further and premiums are not good for put option writing.Even if any selling to happen it happens only after a sideways movment for a while.

BankNifty broke 11030 and may go to final support level around 10700 but is stll in consolidation mode.
UNIONBANK long positions are unwinding and no short addition is happening as PUT IVs are in control .Support is at 123.5 .
ICICI Bank broke its support at 1050 and need follow up action on monday as PUT IVs are not going up, if follow up selling occurs slight support is at 1028 and final good support at 1005 .
 
#82
Current outstanding Option trades
UNIONBANK Sold PE NOV 125 @4.6
UNIONBANK Sold PE NOV 130 @6.6

Recent Trades

None

08/11/2013 EOD Setup

NIFTYtoday broke support 6177 and drifting lower but still in consolidation mode and need follow up action on monday .Any close below final support 6096 on monday can only attract selling. Slight resistance is at 6185 and then 6260

NIFTY IV is very low in November series puts and market seems to be very confident of not going down any further and premiums are not good for put option writing.Even if any selling to happen it happens only after a sideways movment for a while.

BankNifty broke 11030 and may go to final support level around 10700 but is stll in consolidation mode.
UNIONBANK long positions are unwinding and no short addition is happening as PUT IVs are in control .Support is at 123.5 .
ICICI Bank broke its support at 1050 and need follow up action on monday as PUT IVs are not going up, if follow up selling occurs slight support is at 1028 and final good support at 1005 .
Current outstanding Option trades
UNIONBANK Sold PE NOV 125 @4.6
UNIONBANK Sold PE NOV 130 @6.6

Recent Trades

None

11/11/2013 EOD Setup

NIFTY today broke 6096 final support on closing basis in day T/F and entered into sellers zone in last half hour. 6093-6207 will be sideways range and above 6207 closing is bullish.Another follow up action from sellers is required to maintain downward bias.

NIFTY IV is still low in November series puts and market seems to slide lower slowly as there is no demand for puts from hedgers/speculators.

BankNifty moved around its final support level 10700 and yet to see sellers action.
UNIONBANK today reached its support at 123.5 and experienced selling today keeping the price consistently below 126 but PUT IVs haven't increased yet.
ICICI Bank keeping below 1050 got support at 1026 but PUT IVs are not going up .
 
#83
Current outstanding Option trades

NIFTY Bought PE NOV 6200 @122

Recent Trades
NIFTY Bought PE NOV 6200 @122
UNIONBANK Bought PE NOV [email protected]
UNIONBANK Bought PE NOV [email protected]

12/11/2013 EOD Setup

NIFTY today continued its downward slide as a follow up action from sellers .

NIFTY IV is still low in November series puts despite market going down implying demand for puts from hedgers is not there. We can expect some more downside until we see spike in put IVs.Put writing addition in 6100 and 6000 strike suggest market might move upto 6090 on upside and 5960 on downside.

BankNifty broke its final support level 10700 and heading towards 10250.
UNIONBANK today breached its support at 123.5 and experienced selling today keeping the price consistently below 125 and i closed my positions.
ICICI Bank having breached its last support 1050 reached its support 1007 and next support is at 989 .As the intensity is lacking in this downmove any bounce in market can take towards 1050.
 
#84
Current outstanding Option trades

NIFTY BTO(Bought To Open) PE NOV 6200 @122

Recent Trades
NIFTY Bought PE NOV 6200 @122
UNIONBANK Bought PE NOV [email protected]
UNIONBANK Bought PE NOV [email protected]

12/11/2013 EOD Setup

NIFTY today continued its downward slide as a follow up action from sellers .

NIFTY IV is still low in November series puts despite market going down implying demand for puts from hedgers is not there. We can expect some more downside until we see spike in put IVs.Put writing addition in 6100 and 6000 strike suggest market might move upto 6090 on upside and 5960 on downside.

BankNifty broke its final support level 10700 and heading towards 10250.
UNIONBANK today breached its support at 123.5 and experienced selling today keeping the price consistently below 125 and i closed my positions.
ICICI Bank having breached its last support 1050 reached its support 1007 and next support is at 989 .As the intensity is lacking in this downmove any bounce in market can take towards 1050.
Current outstanding Option trades

NIFTY Bought PE NOV 6200 @122
Recent Trades

None

13/11/2013 EOD Setup


NIFTY today continuing its downward slide and may test its momentum support at 5960.

NIFTY IV is still low in November series puts and can expect some more downside until we see spike in put IVs.There might be a spike towards 6080 once.

BankNifty is showing some signs of slowing downside momentum, but any strong up move will be only above 10780 hourly closing.
ICICI Bank is holding its support 1007 closing and next support is at 989 .It seems it might move towards 1042 for a while.
 
Last edited:

ananths

Well-Known Member
#85
Current outstanding Option trades

NIFTY Bought PE NOV 6200 @122
Recent Trades

None

13/11/2013 EOD Setup


NIFTY today continuing its downward slide and may test its momentum support at 5960.

NIFTY IV is still low in November series puts and can expect some more downside until we see spike in put IVs.There might be a spike towards 6080 once.

BankNifty is showing some signs of slowing downside momentum, but any strong up move will be only above 10780 hourly closing.
ICICI Bank is holding its support 1007 closing and next support is at 989 .It seems it might move towards 1042 for a while.
Can't make out you bought it or sold? because the title of the thread says option writing...and also if you can put profit or loss it would be more clear when you close the postion. Thanks. :thumb:
 
#86
Hi Ananth,
The format of my positions are as mentioned in post #72. My outstanding positions are only mentioned in every post.I would make correction from now onwards to include Profit/Loss when i close my positions.Currently I hold only NIFTY BTO (Buy To Open) PE NOV 6200 @ 122 and this position will be closed when NIFTY hourly closes above 6100.
 
#87
Current outstanding Option trades

NIFTY Bought PE NOV 6200 @122
Recent Trades

None

13/11/2013 EOD Setup


NIFTY today continuing its downward slide and may test its momentum support at 5960.

NIFTY IV is still low in November series puts and can expect some more downside until we see spike in put IVs.There might be a spike towards 6080 once.

BankNifty is showing some signs of slowing downside momentum, but any strong up move will be only above 10780 hourly closing.
ICICI Bank is holding its support 1007 closing and next support is at 989 .It seems it might move towards 1042 for a while.
Current outstanding Option trades
None

Recent Trades
Positional
NIFTY STC(Sold To Close) PE NOV 6200 @142----Profit 20 points
Intraday
NIFTY BTO (Bought To Open) PE NOV 6300 @ 189 and STC @ 219 ----Profit 30 points

14/11/2013 EOD Setup

NIFTY bounced from support at 5960 and tested upside at 6080 as expected.Bias is still negative but may not go down much as BankNifty has positive bias.Hrly closing below 6054 is required for taking shorts.

NIFTY IVs are low in November series in both puts and calls and can expect sideways range.A minimum 6103 hrly closing required to take long positions.

BankNifty as expected bounced from the lows and may go up further holding 10725 hrly closing.Resistance is at 10878 hrly closing.
ICICI Bank moved towards 1042 and firmed closed above it and resistance is at 1067.
 
#89
Current outstanding Option trades
None

Recent Trades
Positional
NIFTY STC(Sold To Close) PE NOV 6200 @142----Profit 20 points
Intraday
NIFTY BTO (Bought To Open) PE NOV 6300 @ 189 and STC @ 219 ----Profit 30 points

14/11/2013 EOD Setup

NIFTY bounced from support at 5960 and tested upside at 6080 as expected.Bias is still negative but may not go down much as BankNifty has positive bias.Hrly closing below 6054 is required for taking shorts.

NIFTY IVs are low in November series in both puts and calls and can expect sideways range.A minimum 6103 hrly closing required to take long positions.

BankNifty as expected bounced from the lows and may go up further holding 10725 hrly closing.Resistance is at 10878 hrly closing.
ICICI Bank moved towards 1042 and firmed closed above it and resistance is at 1067.
Current outstanding Option trades
NIFTY STO (Sold To Open) PE NOV 6300 @152

Recent Trades
NIFTY STO (Sold To Open) PE NOV 6300 @152

18/11/2013 EOD Setup

NIFTY gap up above 6103 and closed above 6156 hrly firmly. 6128 is the trailing hrly support.

NIFTY IVs in November series are showing slight bullish bias and next resistance for NIFTY is at 6233 hrly closing.

BankNifty as expected is continuing its uptrend and next resistance is at 11300 and immediate support at 10932 hrly closing.
ICICI Bank cleared important resistance at 1067 but resistance is at 1093.
 

ananths

Well-Known Member
#90
Sir..are you still doing this? How is it going?

I recently read this strategy in a book "Dennis Eisen - Using Options To Buy Stocks Build Wealth With Little Risk And No Capital" . He talks about using LEAP options which is a long term option contract in US market.
Interesting to know how we can do this in Indian market.
 

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