I am very new in trading and a new member in traderji dot com. Please help me. I have bought Reliance Put 960 (31 Mar) at the rate of Rs. 9.80 on 18 Mar 2011. The last price of Reliance was then Rs.990.
Now today i.e on 25 Mar 2011 Reliance last price is 1026.60 and the put value is only 55 paise.
What should I do now? Should I wait till expiry? Suppose if the price of Reliance goes down next week say may be up to Rs. 990, but the put price does not go up, then what should I do? I don't know the procedure of "exercise". How can I sell my put with the procedure of "exercise"? I have an account with ICICIDirect. Or should I simply suqare off / sell this put? What is the benefit of "exercise" please let me know. Thanks in advance and best wishes for beneficial trading.
Now today i.e on 25 Mar 2011 Reliance last price is 1026.60 and the put value is only 55 paise.
What should I do now? Should I wait till expiry? Suppose if the price of Reliance goes down next week say may be up to Rs. 990, but the put price does not go up, then what should I do? I don't know the procedure of "exercise". How can I sell my put with the procedure of "exercise"? I have an account with ICICIDirect. Or should I simply suqare off / sell this put? What is the benefit of "exercise" please let me know. Thanks in advance and best wishes for beneficial trading.