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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.

Rohit Katwal

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