Trading for Living -- Successfully Completed one year as Full Time Trader

[amrutham]

One more..if max pain at 26600 and market is nearby 26600 then we need to sell 26600ce 2x sell and 26700ce x buy and 26500ce x buy?

Generally that is the trade you need to initiate. But if see last few weeks, it does not always close near max pain level.

 

[gmt900]

Where do you get max pain information from?

I get it on options Oracle. It must be available on other options software too.

 

[gmt900]

One more..if max pain at 26600 and market is nearby 26600 then we need to sell 26600ce 2x sell and 26700ce x buy and 26500ce x buy?

Yes. Alternatively, one can short straddle @ 26600 or sell 26600 CE and PE and buy 26700CE and 26500PE ( Butterfly)

 

[govindheg]

Yes. Alternatively, one can short straddle @ 26600 or sell 26600 CE and PE and buy 26700CE and 26500PE ( Butterfly)

I traded short straddle 26600 CE/PE today, but in the end I could gain around 6 points only. May be I should have initiated the trade at the beginning of the day.

 

[govindheg]

I get it on options Oracle. It must be available on other options software too.

Thank you. Let me also try

 

[anildnr]

26400pe 26500ce combined premium 303 looking attractive with each slm of 185

 

[anildnr]

You can use Quantsapp

Hi if we see the quantapp now for banknifty support is at 26000 and resistance at 27000

 

[VJAY]

Dear amrutham/other option traders,
I follow price action trading ....if I use writing CE(justOTM) if my trade in SHORT & write PE (just OTM) if my trade in LONG ...its for pure intraday when my SL hit in spot will exit as put sl for option is difficult (though will think of put initial sl of some fixed for anything unknownly happen )...Please share your views on what are the main problems comes in this trades?also VIX do any thing against it?

 

[anildnr]

Dear amrutham/other option traders,
I follow price action trading ....if I use writing CE(justOTM) if my trade in SHORT & write PE (just OTM) if my trade in LONG ...its for pure intraday when my SL hit in spot will exit as put sl for option is difficult (though will think of put initial sl of some fixed for anything unknownly happen )...Please share your views on what are the main problems comes in this trades?also VIX do any thing against it?

Hi vijay...my ibservation is if you sell otm options for intraday..the premium itself is less when you are selling..so there wont be much decrease..say for ex if u sell 27000ce at 22 rupees..even if market decrease max we will get 22 rupees that too till expiry.if market increases definitely there is a loss.so without having sl for otm.i feel there might be chances of loss also. Please let us know ur success story on this strategy so that will be helpful for us also.

 

[VJAY]

Hi vijay...my ibservation is if you sell otm options for intraday..the premium itself is less when you are selling..so there wont be much decrease..say for ex if u sell 27000ce at 22 rupees..even if market decrease max we will get 22 rupees that too till expiry.if market increases definitely there is a loss.so without having sl for otm.i feel there might be chances of loss also. Please let us know ur success story on this strategy so that will be helpful for us also.

Thanks anilji,
I not started trading it...enquired for clarity as am not traded options so the real problems seen by real option traders like you ...like spot we can't backtest options ..I just observed when stop hit in futures if we exit in options loss is minimum opposit futures loss...though profit also low compared to futures ...BE points are large in futures but in options its very low...thats why just thought about it.....share if any observation you people experienced in live trading ....Thanks a lot