BANKNIFTY did not do much yesterday. That was expected after a big rally over last few days.

We had planned to close the trades with a profit of about Rs. 8400-8500. That opportunity came during the day and the trades were closed as shown here:

The net result of these closing rates:

The third set up gave a profit of Rs. 8628.

October series was good for us as we had booked two sets of profits earlier.

The journey took some time i.e. from September 18 to October 20 but it was worthwhile. We saw BANKNIFTY around 19000 level as well as above 24000 in this series. With all the up and down moves, this sedate strategy gave us profit on three separate occasions.

Profit for October series —- Rs. 31231.

After average results over last few months, we had a very good month.

November Series :

Time to move to November Series.

Volumes are low for November options. We need to trade in rounded strike prices.

The likely set up is:

Sell HDFCBANK PUT 1200 @ Rs. 41.00 Credit —- Rs. 22550

Sell ICICIBANK PUT 400 @ Rs. 17.00 Credit —- Rs. 23375

Sell KOTAKBANK PUT 1300 @ Rs. 36.00 Credit —- Rs. 14400

Buy BANKNIFTY PUT 22500 3 lots @ Rs. 444 Debit — Rs. 33300

Net Credit —— Rs. 27025

Prices will vary but we shall be looking for a credit in the range Rs. 26000-28000.

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.