Yesterday was the weekly expiry day for NIFTY and BANKNIFTY options.
We had to exit the JAN 12 trades and set up JAN 19 trades.
It was done at 10:41 AM.
At that time, NIFTY had just moved from 17814 to 17832 . It went lower after that and made a big recovery from the low point of the day.
Let us see how the trades worked out at the end of day.
Position on January 12:
| Option | Action | Quantity | Price at entry | Price on 12/01/2023 | Profit/Loss |
| CALL 17500 JAN25 | BUY | 100 | 877.00 (22/12/22) | 480.00 | (397.00) |
| PUT 19000 JAN25 | BUY | 100 | 789.00 (22/12/22) | 1079.50 | 290.50 |
| CALL 18100 DEC29 | SELL | 100 | 205.65 (22/12/22) | 35.55 ( Closed 23/12/22) | 170.10 |
| PUT 18100 DEC29 | SELL | 100 | 130.70 (22/12/22) | 32.40 (Closed 29/12/22) | 98.30 |
| CALL 17800 DEC29 | SELL | 100 | 150.85 (23/12/22) | 284.90 (Closed 29/12/22) | (134.05) |
| CALL 18100 JAN 05 | SELL | 100 | 122.30 (29/12/22) | 12.00 (Closed 05/01/23) | 110.30 |
| PUT 18100 JAN 05 | SELL | 100 | 120.00 (29/12/22) | 94.50 (Closed 05/01/23) | 25.50 |
| CALL 18000 JAN 12 | SELL | 100 | 155.00 (05/01/23) | 7.35 (Closed 12/01/23) | 147.65 |
| PUT 18000 JAN 12 | SELL | 100 | 117.00 (05/01/23) | 171.00 (Closed 12/01/23) | (54.00) |
| CALL 17800 JAN 19 | SELL | 100 | 185.00 (12/01/23) | 191.50 | (6.50) |
| PUT 17800 JAN 19 | SELL | 100 | 125.00 (12/01/23) | 101.95 | 23.05 |
| TOTAL | 273.85 |
MTM is slightly down from 296.25 of previous day but that is fine with us.
We have till Thursday, January 19 to go with this setup.
We wait for today’s market action.
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.