Life in the market is never dull. Make money or lose money, there is no complaint about the market being boring. The day after budget was also volatile though not to the extent seen on February 01.

See the ups and downs. We had to take some action and sit through all these moves.

In the early trades, our setup had gone into a loss. Keeping patience till NIFTY moved to 17600 level for the first time in the day around 10:00 AM helped.

PUT 17900 FEB 02 was exited at Rs. 290 and CALL 17900 FEB 02 exited at Rs. 5.80.

Just after that CALL 17600 FEB 09 and PUT 17600 FEB 09 were sold at Rs. 206 and Rs. 156 respectively.

Towards the end of day, volatility eased up or whatever happened, premiums came down which is good for our trades.

Let us see where we stand now.

Position on February 02:

OptionActionQuantityPrice at entryPrice on 02/02/2023Profit/Loss
CALL 17000 FEB 23BUY1001220.00 (19/02)733.00(487.00)
PUT 19000 FEB 23BUY100840.00 (19/02)1328.00488.00
CALL 18100 JAN 25SELL100114.50 (19/02)1.40 (Closed 25/01)113.10
PUT 18100 JAN 25SELL100105.50 (19/02)175.00 (Closed 25/01)(69.50)
CALL 17900 FEB 02SELL100182.00 (25/02)5.80 (Closed 02/02)176.20
PUT 17900 FEB 02SELL100135.00 (25/02)290 (Closed 02/02)(155.00)
CALL 17600 FEB 09SELL100206.00 (02/02)170.0036.00
PUT 17600 FEB 09SELL100156.00 (02/02)152.004.00

Overall, it turned out to be a good day. We are now at the best MTM position for February 2023 series.

SGX NIFTY is indicating a positive start for the market today. As long as the move is not big, it should work out well for us.

We wait 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.