Escape's Options Trading Diary - Phase 2

[DanPickUp]

Hi Dan,

I have already bought Dec PE 5600 @ 71, if required I can square-off (CMP 78) and will go for Dec 5800 PUT, once I notice some correction today.

I do understand, it is timezone issue as well as keeping watch on other country market is some what difficult.

Based on your advise, I can go for paper or cash (some limited amount).
I'm comfortable either way.

Regards
Escape

Fine, then let's do it with this option. On the other hand: If you square off, you already could take profit. It is your choice and I do not know if you would take that 7 Rp as profit.

 

[escape]

Fine, then let's do it with this option. On the other hand: If you square off, you already could take profit. It is your choice and I do not know if you would take that 7 Rp as profit.

Let's keep this.
Also 7 point is good profit for a day trade.

 

[escape]

Bought additional 2 lots of Nifty 12OCT2012 PE 5800 @ 96.45

Overall
I have 4 lots of Nifty 12OCT2012 PE 5800 @ 92.70, SL 89.45, CMP 95.70

SL hit @ 101.30, profit of 8.60 points, less brokerages.

 

[escape]

Bought 2 lots of Nifty 12OCT2012 PE 5800 @ 105.45

Exit @ 102.10, loss of 3.35 points, less brokerages.

 

[escape]

Bought 2 lots of Nifty 12OCT2012 PE 5800 @ 106.90

Exit @ 103.15, loss of 3.75 points, less brokerages.

 

[DanPickUp]

Dear Escape

If market plunges further, what is your plan with the Dec Put 5600?

- Keeping the put?
- Should I move to an other strategy?
- Taking profit?

DanPickUp

 

[escape]

Dear Escape

If market plunges further, what is your plan with the Dec Put 5600?

- Keeping the put?
- Should I move to an other strategy?
- Taking profit?

DanPickUp

Dear Dan,

Need to think about this.

As of now US market is down by around 2%. Tomorrow Indian markets are closed, else Dec PUT could have given us good upside move.

If this downside continues for another 2-3 more session, I guess best bet would be profit taking and buy it back after some correction.

You are expert into strategies, what do you suggest?

Regards,
Escape

 

[DanPickUp]

Let's see what the US are doing tomorrow and then let's make a decision for Thursday Morning.

Can you place limit orders by your broker which are, when possible, filled in the first few opening minutes of the market or even before like the Globex in the US?

 

[escape]

Let's see what the US are doing tomorrow and then let's make a decision for Thursday Morning.

Can you place limit orders by your broker which are, when possible, filled in the first few opening minutes of the market or even before like the Globex in the US?

Sure Dan.
For placing limit order, this can be done only during market hours. So I can place order any time after 09:15 AM IST.

In India, I don't think any broker allows us to put Orders for F&O section before market hours. Could be restriction from Exchange itself.

 

[DanPickUp]

The exchange in Singapore will give an idea where your market is opening, as they have a Nifty future market which trades before your market opens. But as you not can place pre market orders in India, you would need an account over there.