And if it never comes down then .......
scratch yr head dearie ....
scratch yr head dearie ....
In the best case that the NF has a an unending climb, cover the short on the date of expiry and go one short for the September series.
It actually needs a lot of nerves and juggling act to manange the scenario. But it works, when the market is choppy with sudden reversals/ Whipsaw action and you are caught on a wrong foot. But this can never be the trading plan.
BTW, when you are one short and one long what is the margin money and MTM ? NIL and traling profits or losses respectively in MTM.