Could not post on the Monday market happenings due to travelling.
Tuesday was a day with 100 point fall.
On Monday, SBIN came up with the results which were bad to say the least. As is the present norm in our irrational markets, stock price goes up when the results are bad. Over two days, the stock moved up by almost 10%. That makes our 230 PUT almost worthless.
Can not do anything about it and just hope that TATA MOTORS does not do the same today as it also gave bad numbers yesterday.
HINDPETRO had a steep fall yesterday. In fact, it was the biggest loser yesterday. PUT 290 which was Rs. 3.00 on Friday, ended up at Rs. 11.00 on Tuesday. We deserve some good luck at times, the poor Option Buyers who almost never make money.
Here is the status of first 6 Selections:
Still doing well.
Let us have a quick review of other selections:
UPL 680 PUT — Buy Price– Rs. 9.00 Closing Price– Rs. 6.00
MARUTI– Buy Price — Rs. 95 Closing — Rs. 160
HCC— Buy Price — Rs. 0.50 Closing — Rs. 0.35
VEDANTA— Buy Price— Rs. 3.20 Closing — Rs. 12.00
BHARTIAIRTL– Buy Price– Rs. 6.00 Closing — Rs. 8.00
Out of these 5, VEDL has done extremely well yesterday.
Let us just stay with these trades today and hope for the best.
Trade profitably, trade cautiously.
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.