I did not post anything for this series for almost a week.
What is the point in narrating the same sad story every day?
Nothing was going well and nothing has gone well.
This is the position of the trades taken:
75% of the value is already gone with almost no hope of getting something back from this position.
But option buyers are nothing but incorrigible hopefuls.
We stay with the trades and give them a chance.
It is difficult to trade from a losing position.
But some action is required at this time of the month. A favorable move can do a lot of good.
ZEEL PUT 200 @ Rs. 2.90 – 3.00 would be one of my trades today. Stock is weak over 30 days as well as 7 days period. It is likely to move below Rs. 200 soon ( or not at all ).
Maximum risk in the trade — Rs. 9000.
ADANIPORTS PUT 660 @ Rs. 8.40-8.80 would be my second trade. Can chase up to Rs. 9.00 but not beyond that.
Maximum risk with the lot size at 1250 is Rs. 11250.
If the trades go wrong, they will set me back considerably. If they work out, let us see.
Trading losses can be covered only by trading profits. There is no other way.
We look forward to the day.
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.