NIFTY fell 166 points.

COALINDIA and ONGC did not fall. They bucked the trend. The problem is that the price has moved out of the profitability range. We need the stocks to move lower significantly today to come out with some minor loss. If they move up, loss will only get bigger.

Apparently COALINDIA moved lower. That was a dividend adjustment of Rs. 7.50. The strike prices have automatically changed to 107.5, 110 and 115 for our set of trades. I have not shown that in this chart but the prices are for these new strikes.

And ONGC too did not oblige.

As these options are in the money options, we need to exit today or certainly by Monday otherwise there may be additional margin requirements.

At some point during the day, we shall book the loss.

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.