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

[timepass]

Friends, what are good books, sites, blogs etc to read and understand Option strategies. Also can you please share good sites to screen and build option strategies.

http://www.traderji.com/community/threads/option-trading-with-danpickup.66266/

 

[amrutham]

Entered into below BN butterfly for July expiry.

BN spot @ 27075

Buy BN 27100 CE 600 Qty @ 148
Sell BN 27200 CE 1200 Qty @ 103
Buy BN 27300 CE 600 Qty @ 70

Net debit = 148 + 70 -206 = 12*600 = 7.2K

Adjusted this position.

BN spot @ 26970

Sell BN 27000 CE 80 Qty @ 122

Credit = 9.7K

Net credit = 2.5 K

 

[VJAY]

Adjusted this position.

BN spot @ 26970

Sell BN 27000 CE 80 Qty @ 122

Credit = 9.7K

Net credit = 2.5 K

If now BNF sustain abv 27000 then we need to exit this adjusted position? though looks like BNF hovering arround 27000

 

[amrutham]

If now BNF sustain abv 27000 then we need to exit this adjusted position? though looks like BNF hovering arround 27000

If it trades above 27100, then plan is to hedge it with 2 lots of 27200 PE.

 

[sreperu]

http://www.traderji.com/community/threads/option-trading-with-danpickup.66266/

Dan's thread is really an eye opener. Simple straight forward.

 

[Probability]

Any good CA in bangalore who understand F&O, file returns and do audit as well, any idea of the cost, can it all be done under 10K per year ?

@amrutham, Cleartax audit fee can be steep depending upon turnover and number of trades, etc.

Trading with F&O comes with multiple problems, losses, taxes, maintaining accounts, audit, after all these IT guys will come behind you. its tough game.

 

[amrutham]

Any good CA in bangalore who understand F&O, file returns and do audit as well, any idea of the cost, can it all be done under 10K per year ?

@amrutham, Cleartax audit fee can be steep depending upon turnover and number of trades, etc.

Trading with F&O comes with multiple problems, losses, taxes, maintaining accounts, audit, after all these IT guys will come behind you. its tough game.

With cleartax, its coming around 16 K.

5.7 K cleartax + 8.5 K audit charges + 1.5 K for 2 years DSC.

Problem is there are very CAs who understand F&O, at least in Hyd. If anyone knows one, please refer. I still need to get the audit done for my wife's account .

 

[amrutham]

Entered into below BN position for 26th July expiry.

BN Spot @ 26800

Buy BN 26900 CE 400 Qty @ 162
Sell BN 27000 CE 400 Qty @ 120
Sell BN 27300 CE 400 Qty @ 41

Net debit = 400

Now closed this position.

BN Spot @ 27300

BN 26900 CE 400 Qty @ 370
BN 27000 CE 400 Qty @ 272
BN 27300 CE 400 Qty @ 48

Net profit = around 20K

 

[VJAY]

If it trades above 27100, then plan is to hedge it with 2 lots of 27200 PE.

Dear amrutham,
You hedged this position today?

 

[amrutham]

Dear amrutham,
You hedged this position today?

No. I was lazy with this position and market surprised me on the upper side.

Now hedged it with 2 lots of 27300 PE @ 80 .

Now if I can make this butterfly break-even, that is enough. Lets see.