Escape's Trading Diary - Options

[escape]

Here is log as of last session.

Log:
Did one trade.

NIFTY OPT 30AUG 12 PE @ 5500 (B)50 @83.55 (S)50 @78.15 -270.00


Result:
After deducting all charges: Rs -282.76

Capital Status:
Exact Initial Capital: Rs. 15746
Current Ledger balance Rs. 14826.26

Learning:
I should have sold when it went higher, but didn't.

 

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Bought NIFTY 30Aug2012 PE 5500 @ 61.90, SL @ 56.00, CMP 61.60.

Seems there is strong support near @ 61, so bought it.

 

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Bought NIFTY 30Aug2012 PE 5500 @ 61.90, SL @ 56.00, CMP 61.60.

Seems there is strong support near @ 61, so bought it.

Squared-off at 65.00, profit of 3.1 points, less brokerages.

 

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Bought NIFTY 30Aug2012 CE 5300 @ 152 SL @ 145.00, CMP 154.30.

 

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Bought NIFTY 30Aug2012 CE 5300 @ 152 SL @ 145.00, CMP 154.30.

SL trigger exit at 145, loss of 7 points and brokerages.

 

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sl hit.....

yes sl hit buddy

 

[augubhai]

Bought NIFTY 30Aug2012 PE 5500 @ 61.90, SL @ 56.00, CMP 61.60.

Seems there is strong support near @ 61, so bought it.

Good that it was a put... but support levels for Options, especially so close to expiry are not meaningful. For support and direction, look at the spot or futures chart, and then try to guess the corresponding Option level.

Option support levels keep on decaying.

 

[escape]

Good that it was a put... but support levels for Options, especially so close to expiry are not meaningful. For support and direction, look at the spot or futures chart, and then try to guess the corresponding Option level.

Option support levels keep on decaying.

Yes agreed, I keep watching Nifty and Nifty future charts too, but mostly concentrate on Options charts.

As I don't carry over position, so not so bothered about expiry. Also I try to avoid trading on expiry day.

 

[augubhai]

Yes agreed, I keep watching Nifty and Nifty future charts too, but mostly concentrate on Options charts.

As I don't carry over position, so not so bothered about expiry. Also I try to avoid trading on expiry day.

Sorry, ignore my comment. I had not noticed that you were trading ITM options. My comments apply only to the ATM and OTM options, especially near expiry.

 

[escape]

Here is log as of last session.

Log:
One trade I didn't posted. Here are overall trade log:
NIFTY OPT 30AUG 12 CE @ 5300 (B)100 @145.44 (S)100 @ 135.00 -1044.00
NIFTY OPT 30AUG 12 PE @ 5500 (B)50 @63.10 (S)50 @ 65.05 +97.50


Result:
After deducting all charges: Rs -994.53

Capital Status:
Exact Initial Capital: Rs. 15746
Current Ledger balance Rs. 13831.73

Learning:
Yesterday I tried trade using Support Levels, but failed, guess have to see some other factors along with support levels or have to wait for confirmation.
Overall number to trades reduced from earlier around 8-10 to 3-5 now.