NIFTY moved up by 80 points yesterday.

We knew in the morning yesterday that the day was going to be bad for us and it was. Stock price going up is one problem for the PUT holder and the day just passing with no movement is another loss.

Good thing among the bad ones yesterday was that BHEL, BHARTI and to some extent ICICIBANK ( it went up slightly ) did not participate in the up move. In these cases too the Options lost some value. That is how option pricing works and we have to take the hit.

All others did not do well. RELCAPITAL actually made an up move of more than 4% at one time and one of our profitable PUTS came back into the red. What will it do today? Come back lower or keep going higher. We shall know in the course of the day. Trying to know from the price action and charts does not give any sure outcome. At best it is a hopeful guess. It can be right and it can be wrong.

SBIN, PNB were usual culprits for us yesterday as well and so was TATA MOTORS.

UPL trade suggested yesterday was possible to execute at Rs. 8.00. It went lower after that but ended the day at Rs. 8.15. It is not shown in the status chart below.

Not a good picture at all.

What do we do now?

Apart from these 7 trades we are having UPL PUT 600 as well. With 8 PUTS and the rising market we are looking to make profits. One could not be more ambitious.

Do we go for some CALLS?

That can be a solution to the problem. But if the market reverses from current position our efforts get nullified.

No new trades for me at least today. Situation will be assessed at the end of day ( may not be any better than yesterday ) and new trades decided after that.

As of 8:00 am, SGX NIFTY was up by 33 points. Again not a good sign for us. But we have to live with whatever the market decides to throw at us.

Same market gave us good profits over last two months. We did not complain then, we should not complain now.

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.