Revised at 10:30 am :
This is how the first set up was closed:
A profit of Rs. 24478. Once again the strategy worked well.
And the new set up for the current series :
The initial credit at the setting up is Rs. 13447. Let us see how it continues for the remaining part of the series.
Earlier Post :
In just a day all the reasons of stocks falling over the previous days were forgotten and it was a positive day through and through.
We are not looking for too much from the strategy and this month it has worked smoothly to deliver the results.
It is alright to think of an exit when almost 70-75% of the initial credit can be cashed as profit.
We are in that situation presently.
We close the trades around 10:00 am today and set up the strategy again with revised strike prices.
New Set Up :
The actual prices will vary. This set up is based on last price yesterday.
Sell 1 lot HDFCBANK PUT 1240 @ Rs. 15.00 Credit — Rs. 7500
Sell 1 lot ICICIBANK PUT 540 @ Rs. 8.60 Credit — Rs. 11825
Sell 1 lot AXISBANK PUT 740 @ Rs. 9.00 Credit — Rs. 10800
Buy 3 Lots BANKNIFTY PUT 31000 Feb 27 Exp @ Rs. 250 Debit — Rs. 15000
Net Credit — Rs. 15125.
The revised post shall be published at 10:30 am with the closing prices of the first set up and the initiating prices of the new set up.
Trade cautiously, trade profitably.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.