BANKNIFTY was the hero yesterday.

All the 12 stocks gained.

The gains were not from the heavy weights. It was the other stocks which went up and up.

In fact, the biggest of them all HDFCBANK was a loser for a good part of the day. It was in the last hour of the day that it turned into green.

If the buying public goes for PNB instead of HDFCBANK, there is nothing we can do.

SBIN gained big but PUT 410 did not have much left in it.

MTM position turned positive once again.

Some Action:

Doing nothing is fine but at this stage some change would be useful.

One can exit SBIN PUT 410 and replace it with PUT 440.

At the same time, exit BANKNIFTY PUT 35000 ( 3 lots) and buy PUT 36000.

The money received from SBIN will be utilized here without costing us too much.

Otherwise, one can just stay with the 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.