It was another volatile day for Nifty yesterday.
After making a low at 17045, Nifty shot up to cross 17200 and was looking strong. Then the slide began and it went below 17100 once again.
First opportunity to close the trades came early in the day which was not taken hoping that index will move lower to 17000.
There was desperation when it went above 17200 but lot of relief when the exit was taken at 2:50 PM with Nifty around 17080.
The month ended up with a loss but it was reduced considerably yesterday.
Trades in March 2023 Series:
| Option | Action | Quantity | Price at entry | Price on 23/03/23 | Profit/Loss |
| CALL 17000 MAR29 | BUY | 100 | 1210.00 (16/02) | 179.00 (23/03) | (1031.00) |
| PUT 19000 MAR29 | BUY | 100 | 832.00 (16/02) | 1896.00 (23/03) | 1064.00 |
| CALL 18050 FEB23 | SELL | 100 | 118.50 (16/02) | 15.15 (21/02) | 103.35 |
| CALL 17850 FEB23 | SELL | 100 | 72.80 (21/02) | 15.20 (22/02) | 57.60 |
| CALL 17700 FEB23 | SELL | 100 | 56.40 (22/02) | 12.20 (22/02) | 44.20 |
| CALL 17550 FEB23 | SELL | 100 | 57.20 (22/02) | 28.20 (23/02) | 29.00 |
| PUT 18050 FEB23 | SELL | 100 | 92.50 (16/02) | 491.00 (23/02) | (398.50) |
| CALL 17550 MAR02 | SELL | 100 | 141.00 (23/02) | 26.00 (27/02) | 115.00 |
| PUT17550 MAR02 | SELL | 100 | 118.00 (23/02) | 154.70 (02/03) | (36.70) |
| CALL 17300 MAR02 | SELL | 100 | 113.00 (27/02) | 100.60 (02/03) | 12.40 |
| CALL 17400 MAR09 | SELL | 100 | 113.00 (02/03) | 271.10 (09/03) | (158.10) |
| PUT 17400 MAR09 | SELL | 100 | 98.00 (02/03) | 25.10 (03/03) | 72.90 |
| PUT 17600 MAR09 | SELL | 100 | 82.50 (03/03) | 19.30 (06/03) | 63.20 |
| PUT 17750 MAR09 | SELL | 100 | 59.00 (06/03) | 83.00 (09/03) | (24.00) |
| CALL 17700 MAR16 | SELL | 100 | 93.30 (09/03) | 14.50 (10/03) | 78.80 |
| CALL 17350 MAR16 | SELL | 100 | 115.60 (10/03) | 30.50 (14/03) | 85.10 |
| CALL 17100 MAR16 | SELL | 100 | 131.50 (14/03) | 29.00 (15/03) | 102.50 |
| CALL 17000 MAR16 | SELL | 100 | 69.00 (15/03) | 0.40 (16/03) | 68.60 |
| PUT 17700 MAR16 | SELL | 100 | 118.60 (09/03) | 705.00 (16/03) | (586.40) |
| CALL 17000 MAR23 | SELL | 100 | 166.00 (16/03) | 78.50 (23/03) | 87.50 |
| PUT 17000 MAR23 | SELL | 100 | 149.00 (16/03) | 0.70 (23/03) | 148.30 |
| (102.25) |
On Wednesday, this number was (-) 227.65. We should consider it to be a good day.
Finally, we closed the March series.
This was our first losing month in 4 months of trading.
Summary of 4 Months:
We have now completed 4 months of these spread trades on this blog.
The results so far:
December 2022 Series — 67.60 points
January 2023 Series —– 231.80 points
February 2023 Series —- 162.40 points
March 2023 Series ——- (-) 102.25 points
Total in 4 months — 359.55 points
We have many more months to go before coming to a conclusion about the performance of the strategy.
April Series Setup:
This is how the trades were setup at around 3:07 PM on March 23:
| Option | Action | Quantity | Price at entry | Price on 23/03/23 | Profit/Loss |
| CALL 16000 APR27 | BUY | 100 | 1230.00 | 1206.10 | (23.90) |
| PUT 18000 APR27 | BUY | 100 | 835.00 | 850.00 | 15.00 |
| CALL 17100 MAR29 | SELL | 100 | 110.60 | 108.05 | 2.55 |
| PUT 17100 MAR29 | SELL | 100 | 125.10 | 133.00 | (7.90) |
| (14.25) |
The beginning is with a loss.
Let us see how the finish goes.
The ride for April 2023 series begins.
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.