In today’s trading session, NIFTY and BNF gained 70 and 171 points respectively. In spite of the up-move, my options trading positions did not gain except for my position in NIFTY CE.
We had another volatile session where the market tried to dip lower but buying was seen and it ended at a higher level by EOD.
Given that tomorrow is weekly expiry, I expect the market to remain range-bound and premium erosion at its maximum. We have only 6 trading sessions left for the monthly expiry, so I would not be too optimistic about the markets pushing towards much higher levels now.
MY OPTIONS TRADING REPORT FOR TODAY’S SESSION:
As I have mentioned above regarding the days remaining for expiry and the chance of premium decay being higher, I have taken the following steps as of today regarding my options positions.
I have exited my position in NIFTY Monthly 11700 CE as I foresee a lot of premium decay in tomorrow’s trading session.
I have also exited my positions in IBULHSGFIN CE. There is potential for its up-move but my outlook now is that it may only touch 740-750 levels by expiry. As such, it would not be
CIPLA PE yet as it continues to be in my Options portfolio as it continues weak momentum and the probability of the Put becoming ITM is now quite high.
No new positions were initiated today. I would not be taking any overnight positions tomorrow also as we have the Weekly expiry and Thursday is a holiday.
Any new trades that I may initiate will be purely intraday for tomorrow. A straddle or a strangle strategy is what I’m looking to implement for tomorrow’s intraday trade. The Strikes that I’m monitoring are 29800PE, 29900PE, 29800CE and 29900CE.
Here is the status of my options trading report [March 19 2019]:
Realized Profits: INR (+) 160582.50/-
Unrealized Profits: INR (-) 2150/-
[DISCLAIMER: The options trading report above are my personal trades and is intended for general information and educational purposes only, not a Buy/Sell recommendation. Please use your own risk management techniques. Any loss incurred from following my personal trades will solely be at your own risk]