Cinderblock,
* Actually, as per charts, going long was the right call. Though selling puts is taking the market for granted in my view....
* Commonsense should always rule over greed.... especially ahead of a major event, no matter what the charts will say though.
* Another lesson from this tells us, that no matter how long you are in the market, even if you are SP Tulsian, there is always something new to learn each day. :lol::lol::lol:
* If trading options ahead of an event, go long calls or puts, and don't short.
* Another lesson from this is - don't follow analyst blindly. And even if doing so, don't put all eggs in one basket.
* And finally, we don't know how this event will pan out over the next few days. Just as this is a surprise for most, the market can move in direction that can still surprise us - as politicians, bank governors will take decisions that can cause volatility. So even if having an opinion on the market, it is better to be prudent and take a cautions view... and trade with caution ahead of greed.
Yesterday at market close SP Tulsian says "You have to be courageous and sell puts before the event and not wait for it. Else you should quit FNO trading. Sell 17000 BNF puts and you will reap easy profits"
And Tulsian sounded quite cocky about it even saying that the other analysts sounded too fearful.
17000 BNF puts are up 200%
