Trading Dairy - IF

[internet_fanbboy]

Added Long @ 73

 

[internet_fanbboy]

Day 2 Summary

Sold two more Straddles @ 65 Strike. Now 12000 Straddle Short at 7.6 (Avg. Price)

Current value of Straddle = 7.05 [+ 6600]

Total Loss in Futures thus far = 1.9 [- 7600]

Day 3 Summary

RCOM went up by ~ 13%, Worst thing that can happen for a Short Straddle Position.

Open Positions:
Straddle Short @ 65 Strike at 7.6 (12000 Qty)
RCOM Futures Long @ 70.25 Avg. Price (16000 Qty)

Current Value of Straddle = 10.25 [-31800]
Total Profit in Futures thus far = 10.5 [+ 42000]

Present Delta of Position = -1.92 (Straddle) + 4 (Futures) = 2.08

Notes: Aggressive buying led to Positive delta, Will reduce my Futures position tomorrow

 

[internet_fanbboy]

Sold 1 Lot RCOM @ 75

 

[internet_fanbboy]

Sold Lot @ 73.9

Now i am very close to a delta neutral position.

 

[internet_fanbboy]

Day 3 Summary

RCOM went up by ~ 13%, Worst thing that can happen for a Short Straddle Position.

Open Positions:
Straddle Short @ 65 Strike at 7.6 (12000 Qty)
RCOM Futures Long @ 70.25 Avg. Price (16000 Qty)

Current Value of Straddle = 10.25 [-31800]
Total Profit in Futures thus far = 10.5 [+ 42000]

Present Delta of Position = -1.92 (Straddle) + 4 (Futures) = 2.08

Notes: Aggressive buying led to Positive delta, Will reduce my Futures position tomorrow

Day 4 Summary

RCOM moved up by 2.7% today. Since yesterday i had excess delta i closed 2 long positions in Futures.

Open Positions:
Straddle Short @ 65 Strike at 7.6 (12000 Qty)
RCOM Futures Long @ 70.25 Avg. Price (8000 Qty)

Current Value of Straddle = 11.35 [-45000]
Total Profit in Futures thus far = 18.4 [+ 73600]

Present Delta of position = -2.1 (Straddle) + 2 (Futures) = -.1

Notes:

- The position is nicely set as far as Delta is concerned, additionally Gamma being very low drastic changes in Delta not expected. So lots of room for adjustment.

- Presently a total of ~ 4 points as Time Value is left in the position. If i get 2 points without any adjustment, i would want to quit the position.

 

[nac]

I watched RCOM today. Thinking of trading it, but after reading an article about RCOM, I end up watching it all day

The news is Morgan Stanley upgraded RCOM with the target of Rs 86/- (I think it's a day or two days old news)

 

[internet_fanbboy]

I watched RCOM today. Thinking of trading it, but after reading an article about RCOM, I end up watching it all day

The news is Morgan Stanley upgraded RCOM with the target of Rs 86/- (I think it's a day or two days old news)

These articles :rofl:

You never know what to believe and what makes sense :fatigue:

 

[nac]

It's too much of a rise, isn't? From 55-75...
Wanted to trade safe... Yeah, it is safe by not taking any position...

 

[internet_fanbboy]

It's too much of a rise, isn't? From 55-75...
Wanted to trade safe... Yeah, it is safe by not taking any position...

True. The stock has moved up almost 50% in last 2-3 weeks. Its best to stay away from a total bullish or bearish stance at this time as the volatility is high. But this sort of setup makes for really nice Neutral Strategies imo.

 

[internet_fanbboy]

Covered 1 Call @ 10.55