NIFTY made a small down move for the day.
We have seen that NIFTY move does not impact our trades as stocks can behave independent of NIFTY moves.
Luckily the stocks which we desperately wanted to stay down did so for the day. GAIL, IOC , ONGC and VEDL came down little bit and the PUTS in these stocks gained some value.
Position at close yesterday:
The mark to market loss has come down from Rs. 27660 to Rs. 19862 in a day.
We are still not out of woods and we need today to go in our favor. Option trades have a way of going wrong when we least expect them. We keep our fingers crossed and xpect the day to turn out well for our trades.
No new trades for the day.
GAIL, IOC, ONGC and VEDL are either In The Money or very near to it. Some brokers will be closing these trades today as carrying them into expiry week will need additional margin.
These trades may need closing by 2:30 pm today. If your broker permits to carry them into next week, you can chose to do that.
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.