This was how BANKNIFTY moved on Friday, June 04.
Interesting point here is that PUT 33000 as well as PUT 32000 both lost a little money in spite of a 1% fall in BANKNIFTY.
By the same reason, sold PUTS in the 3 stocks too did not gain much.
As all the three were poor performers on Friday, the MTM position moved lower.
We were in same position few days ago.
The up and down moves will do that to MTM. We just stay with the trades and see what happens. Not doing anything has worked very well for us for the past 19 months. There is no reason to believe that this time will be any different.
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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.