Closing April'23 with 2.5% Profit
April was another tough month. With India Vix constantly below 13 (depressed premiums) and volatile burst move to either sides, option trading has become difficult but nigh undoable.
I had to adjust my approach to market few times. Only reason, I suffered 1.5% damage is my try to salvage a lost position. In hindsight should not have touched BANKNIFTY for trading in such low vix environment. Till the time Vix is trading below 15 levels, the difficulty will prevail. I havent yet tried the long vol approach, but thinking of using some long vol spreads this month to see how that affects my option returns. Will keep you all posted.