February 27, 2017

Option writing trades - V

Resuming this series thanks to popular demand. Previous trades are available here.

To make it easier for me, I will post my trades only on trend reversal. I will also not be posting the MTM everyday as I assume readers are smart enough to figure out if the trade is in profit or not.

All trades are based on 15 min charts.

My usual trade quantity is 900.


23-JAN-2017: sold FEB 8500 calls around 104. SL 8500.

24-JAN-2017. Covered short position in 8500 calls. The reason for doing this is NF closing above recent swing high on 15 min charts (trailing SL). This also should mean that I should start writing puts but I have not done this. The reason for this is option writers do not expect NF to sustain above 8500 in FEB. Now with the limited resources I have and the associated risk taking ability, the best thing to do is exit a loss making position and keep quiet for some time till some clarity develops in my mind.

25-JAN-2017... started writing FEB 8300 puts around 50. Reduced qtty to 600 because of loss in previous trade. In hindsight, I should have started this on 24-JAN when I covered short position in calls.

31-JAN-2017... got sell signal in nifty futures on 15 min charts. Exited short position in 8300 put but have not started writing calls. Will consider this trade on 2-FEB.

1-FEB-2017... good I did not write calls yesterday... I would have got a good whack! Now current trade based on 15 min charts is bullish bias. I did not write any puts but this is what I may consider from tomorrow.

3-FEB-2017...uptrend intact. Writing puts... SL on 15 min charts is 8700F


8-FEB-2017... no change in view... trend is still up. SL is 8700 F on 15 min charts



15-FEB-2017... trend is still up. SL 8720 F on 15 min charts. Will consider writing calls if this level breaks.


21-FEB-2017... trend is still up. SL 8800 F on 15 min charts. Will consider writing calls if this level breaks.


23-FEB-2017 ... trend is still up. SL 8900 F on 15 min charts. Will consider writing calls if this level breaks.



27-FEB-2017 ... trend is still up. SL 8900 F on 15 min charts. Will consider writing calls if this level breaks.


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