Nifty Options Vertical Spread Trading

[TraderRavi]

Could not exit on time because i was at lunch! :annoyed:

I too was at lunch when my short SL hit @ 6265 and nifty moved to 6300+ superfast so cud not ride upmove also :annoyed:

 

[whisky]

I too was at lunch when my short SL hit @ 6265 and nifty moved to 6300+ superfast so cud not ride upmove also :annoyed:

Lunch was costly for me too yesterday but still manage to get good dinner.:rofl:

 

[ananths]

Traped ! :annoyed:

Current position,

Long 6400CE @ 70 (40) = -30
Short 6500CE @ 34 (18) = +16 (Closed)
Short 6450CE @ 27 (28) = -1

Net P/L is -15 points as of now.

Could not exit on time because i was at lunch! :annoyed:

Edit:- Am I finding excuse for wrong decision? Previous post I mentioned let the dust settle to go for long trade but I was in a hurry! I should pay for this indescipline! A lesson for me.

Closed 6450CE @ 22..profit 6 points
Placed an order to sell 6300 call below LOD and will make it a Credit spread if executed.

 

[ananths]

Traped ! :annoyed:

Current position,

Long 6400CE @ 70 (40) = -30
Short 6500CE @ 34 (18) = +16 (Closed)
Short 6450CE @ 27 (28) = -1

Net P/L is -15 points as of now.

Could not exit on time because i was at lunch! :annoyed:

Edit:- Am I finding excuse for wrong decision? Previous post I mentioned let the dust settle to go for long trade but I was in a hurry! I should pay for this indescipline! A lesson for me.

Closed 6450CE @ 22..profit 6 points
Placed an order to sell 6300 call below LOD and will make it a Credit spread if executed.

Sold 6300PE at right time (57) but kept a SL at buy price and went for lunch..again lunch proved costly

Again sold 6300CE @ 50

Now will hold this for next week.

 

[ananths]

Spread #4 update

Long 6400CE @ 70 (24) = -46
Short 6500CE @ 34 (18) = +16 (Closed)
Short 6450CE @ 27 (22) = +5 (Closed)
Short 6300CE @ 50 (48) = +2

Net P/L is -23 points as of now. Worst loss in my spread trading till now. This is the testing time. Let me see how I can come out of this with min damage.

 

[ananths]

Spread #4 update

Long 6400CE @ 70 (24) = -46
Short 6500CE @ 34 (18) = +16 (Closed)
Short 6450CE @ 27 (22) = +5 (Closed)
Short 6300CE @ 50 (48) = +2

Net P/L is -23 points as of now. Worst loss in my spread trading till now. This is the testing time. Let me see how I can come out of this with min damage.

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.

 

[ananths]

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.

 

[ananths]

Spread #5 - closed

Long 6050PE @ 56 (60) = +4
Short 6000PE@ 41 (45) = -4

Exited all position at cost. P/L = 0.

 

[ananths]

Spread #6

Long 5900PE @ 37
Short 5800PE@ 19

Total cost 18 points.

Entered with very less number of lots because market is very close to 6000PE where is highest OI. It may act as support; if its broken, flood gates are open?

 

[Gandhar.]

Spread #6

Long 5900PE @ 37
Short 5800PE@ 19

Total cost 18 points.

Entered with very less number of lots because market is very close to 6000PE where is highest OI. It may act as support; if its broken, flood gates are open?

after 6000 5800 has most OI
200 points waterfall??