Trading for Living -- Successfully Completed one year as Full Time Trader

[amrutham]

Great going. What is the criteria that you use for selection of strike prices and quantity. Is it fixed or changes as per market condition?

Sent from my SM-G615FU using Tapatalk

When I opened this trade today morning, BN was going strong around 24600.

Since only one day left for expiry, I expected it to hold 24500 and to be in a broad range of 24500 - 24800.

This trade is profitable, if BN closes any where between 24450 - 24780. Max profit is 54000@24700

I thought it is big enough range for a single day. But It had other ideas.

 

[optionswriter]

When I opened this trade today morning, BN was going strong around 24600.

Since only one day left for expiry, I expected it to hold 24500 and to be in a broad range of 24500 - 24800.

This trade is profitable, if BN closes any where between 24450 - 24780. Max profit is 54000@24700

I thought it is big enough range for a single day. But It had other ideas.

Good to see someone making money writing options.

Lot of folks I have seen go through naked options buying - make money initially and predominantly lose money - as it's the low cost entry and making 2X/3X returns - that gives adrenaline rush - but they never enter the writing terittory - where they can make 6-10% - with much limited risk as compared to naked option buying.

So are you now focusing on BNF only or still writing stock options.

 

[VJAY]

Yes its low risk and 3* R trade
Amruthumji thanks to sharing insights of your trades ....also glad to know that you doing it successively...best wishes to your upcoming trades
and this trade too today it will come to winning zone

 

[iwillwin]

Vjay Bhai long time no visit no traderji....

 

[VJAY]

Vjay Bhai long time no visit no traderji....

No am not active in forum but visit silently

 

[TraderGYO]

Yes its low risk and 3* R trade
Amruthumji thanks to sharing insights of your trades ....also glad to know that you doing it successively...best wishes to your upcoming trades
and this trade too today it will come to winning zone

View attachment 24642

May I ask what is the name of this software?

 

[VJAY]

May I ask what is the name of this software?

Its option oracle

 

[amrutham]

New positions taken for tomorrow's expiry.

Long 24700PE 200 Qty
Short 24500PE 600 Qty
Long 24400PE 400 Qty

Long 24600CE 640 Qty
Short 24700CE 1280 Qty
Long 24800CE 640 Qty


Total debit : Around 10000

Max Profit : If BN expires between 24500 and 24700
Max Loss : Initial debit value of 10K

Closed 24600CE 640 Qty @ 15
Closed 24700CE 1280 Qty@ 4

Long 24800CE is trading at 1.5 and will let it expire.

All puts are still open

 

[amrutham]

Below is the new trade.

CMP : around 24400

Short BN 24500 CE 200 Qty @41

Total credit received : 8200

Will close it if BN crosses 24550. Else, let it expire.

 

[amrutham]

Good to see someone making money writing options.

Lot of folks I have seen go through naked options buying - make money initially and predominantly lose money - as it's the low cost entry and making 2X/3X returns - that gives adrenaline rush - but they never enter the writing terittory - where they can make 6-10% - with much limited risk as compared to naked option buying.

So are you now focusing on BNF only or still writing stock options.

I am holding following stock options for APR expiry.

Sold 1 lot SBIN 230 PE at 2.8

Sold 1 lot PNB 80 PE at 1.1 .

Sold 1 lot INFY 1200 CE at 15 .

These stocks SBIN and PNB, I like to acquire if the positions go into ITM.

INFY is a covered call .

I do not have any NIFTY positions for this month.