The sudden fall in NIFTY helped in reducing the loss a little bit on the day.
It was a bad day for option buyers irrespective of whether you bought PUTS or CALLS. ASIANPAINT was up almost Rs. 30 and we had CALL 2020 gaining just Rs. 0.50 from the previous day.
HINDPETRO was down by 1.45% but the PUT 190 lost out Rs. 0.45.
Anyway, we chose to admit yet another defeat for the month and booked our losses.
A loss of Rs. 28500 for the month.
It is not that we did not have chances to do better. Almost every trade had got into a profitable position. Only we waited for a bigger profit.
HINDPETRO PUT 190 had traded above Rs. 8.50 also and most of the time I have advised readers to book profit when the price of an option becomes 3 times or more. I did not book and suffered for it but there was no need for the readers to follow me. I sometime wait for huge gains which most of the readers do not have patience for.
Whatever has happened I accept the failure. Justifying it with a plethora of reasons is not going to get the money back.
With this bad result accounted for my profit for the year has now come down to Rs. 130907.
Living on past glory is not the best thing to do but it is some satisfaction that I am still profitable for the year.
Looking forward to better results in October 2020.
No trades today.
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.