Day Trading Stocks & Futures

[TraderRavi]

yesbank down 20% , long walon ki to lag gayi hogi.

 

[Riskyman]

yesbank down 20% , long walon ki to lag gayi hogi.

Was down close to 30% on open bhai. Imagine the P&L for a futures trader! Jeez.
Can't help black swan events like this once in a while. Sab kismat ka khel hai.

 

[tradeblr]

Sorry to hear about your loss. May I ask why such a big position in Yes Bank despite the fact that it was in a strong downtrend?

I wanted to own that stock for long time... since 280-330 levels..then it zoomed to 400 and then was on a down trend, thought it would stop at 350 and can cash in on the next result season...so bought for 15L and pledged it to take margins.....then there was accumulation of bad news..today is worse..20% down initially...but it is recovering.. My strategy is to invest in 2-3 good companies instead of buying several stocks and spreading the risk..but that got back fired badly.

 

[TraderRavi]

Was down close to 30% on open bhai. Imagine the P&L for a futures trader! Jeez.
Can't help black swan events like this once in a while. Sab kismat ka khel hai.

yesbank 330 put. close price 15 , today high 90. lot size 1750. mauz aa gayi unki.

 

[afin]

Yes Bank ka Band baj gaya . Down 22%. Wow!!
Those holding long futures would be crying!

Had to do with Rana Kapoor being booted out. I was expecting some 5% down but 22% down is a not that I am holding any YESB shares though

 

[afin]

Almost Rs. 50000 (half a lac) within just 8 minutes.

And then some people say that Options Buyers DO NOT make much money.

When did you buy those YESB puts?

 

[vikas2131]

When did you buy those YESB puts?

yes bank future not put in the pic.

 

[afin]

I wanted to own that stock for long time... since 280-330 levels..then it zoomed to 400 and then was on a down trend, thought it would stop at 350 and can cash in on the next result season...so bought for 15L and pledged it to take margins.....then there was accumulation of bad news..today is worse..20% down initially...but it is recovering.. My strategy is to invest in 2-3 good companies instead of buying several stocks and spreading the risk..but that got back fired badly.

My good friend, please ignore this piece of advice if you find it preachy- but please do not make the mistake of buying on margins - it is bad for your emotional and also overall wellbeing and the tradeoffs are not worth their weight in the long run.

Best wishes to you and I do sincerely hope that you recover them all slowly. Please do not make the mistake of trying to recover all of it in a jiffy.

 

[Riskyman]

I wanted to own that stock for long time... since 280-330 levels..then it zoomed to 400 and then was on a down trend, thought it would stop at 350 and can cash in on the next result season...so bought for 15L and pledged it to take margins.....then there was accumulation of bad news..today is worse..20% down initially...but it is recovering.. My strategy is to invest in 2-3 good companies instead of buying several stocks and spreading the risk..but that got back fired badly.

If its all cash based buying then you can live with some short term pain. Yes Bank is a good stock and it may live through bad news in the short term and eventually recover over the next few quarters.
However, If you/anyone had positions in future, then its a lot of money to lose.

PS: Are you the same guy who had asked how low Yes Bank would go in a separate thread?

Edit@10:03 AM.: I found the thread. Another person was asking about Yes bank. And here is my post.
http://www.traderji.com/community/threads/yesbank-target.106935/#post-1307617

 

[afin]

yes bank future not put in the pic.

Oh! Didn't notice that