Closed 6300CE at 37.
Long 6400CE @ 70 (18) = -52
Short 6500CE @ 34 (18) = +16 (Closed)
Short 6450CE @ 27 (22) = +5 (Closed)
Short 6300CE @ 50 (37) = +13 (Closed)
Net P/L = -18 points now.
Closed spread #4
Long 6400CE @ 70 (16) = -54
Short 6500CE @ 34 (18) = +16 (Closed)
Short 6450CE @ 27 (22) = +5 (Closed)
Short 6300CE @ 50 (37) = +13 (Closed)
Net P/L = -20 points excluding the brokerages and other charges paid for all the circus I did to save this spread :rofl:
Lesson is never hold on to a losing trade. :thumb: If I had exited immediately after the initial loss, I would have lost maximum 15 points and less brokerage. Also I would have entered a fresh spread... :annoyed:
For me market seems to be broken support trend line so its now in bearish trend with Rupee depreciating we can expect further down move.
Spread #5
Long 6050PE @ 56 (60) = +4
Short 6000PE@ 41 (45) = -4
Total cost of the spread is 15 and maximum profit would be 35.
IV is significantly low and 6000PE has highest OI in put side. So expect some support but looks like direction depends on Rupee move.