Yesterday's decision proved right today :thumb:
Still there is not much profit in the spread. IV is very low as of now.
Maximum OI is at 6000PE. I feel market can see that level. :thumb: but minor support at 6200.
Current status,
Long 6200PE @ 78 (83) = +5
Short 6100PE@ 50 (53) = -3
Net P/L = +2 Points
Nifty Fut premium is about +50 points that could be the reason for our spread not given much profit today. I will hold this position until NIFTY spot close above 6300.
Still there is not much profit in the spread. IV is very low as of now.
Maximum OI is at 6000PE. I feel market can see that level. :thumb: but minor support at 6200.
Current status,
Long 6200PE @ 78 (83) = +5
Short 6100PE@ 50 (53) = -3
Net P/L = +2 Points
Nifty Fut premium is about +50 points that could be the reason for our spread not given much profit today. I will hold this position until NIFTY spot close above 6300.
AVG CE IV @ 19.4%. AVG PE IV @ 17.81. VIX @ 20.25%. So I would say market is in a confused state. In the confused state (Range bound) and when the IV is low it is better to do Credit Spread (Selling Pairs).