This is what NIFTY did on Friday, June 22.
Enough to send our Options towards being worthless. Fortunately PNB, IDEA and BHEL did not participate in this upward move. Their price is still close to the Strike Price of the PUT options we have in these stocks.
Real countdown starts now.
We were in a bad situation on Thursday. It could have been extremely bad on Friday. I will still classify is as bad only.
We need some good down moves in our PUT stocks real quick.
Looking at the SGX NIFTY at 8:10 am this morning, there is some hope. But these things have already flattered to deceive on many occasions so let us keep our fingers crossed.
This is the status of our trades as of Friday evening.
I wish only Futures Trades were done in all of these selections. Then the picture would not have not looked so dismal.
We would have been looking at a very nice profit instead.
This is how trading in Options differs from trading in stocks/futures. Price action has to happen within the Expiry period and fast.
The positive thing about Option Buying is that the losses can not exceed beyond a point.
If the trades had gone wrong in Futures, losses could be very big.
So we wait for the market to do whatever is best for us.
No new selections for today.
All the best for the existing trades.
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.