Update - 13 May 2019

  • I was bearish as told in the morning, but I was not this much bearish.

  • At around 11, I took my first bear call spread on Bank Nifty at 29500 and 29800. Later I added positions on Nifty too. I was not sure of the direction, but sensing bearishness in data, I shorted for safer distances.

  • After 2 PM, market as it always does, tried to trap people to the upside. I added few more positions to bear call spread at lower levels of 29400 and 29700.

  • When market cracked, I had no desire to change the positions.

  • There comes a time when a certain option spread, despite being in profit, does not lose any of its value. Same was the case with 11450, 11650 spread & 29500, 29800 spread. There was even a chance that it would have risen in value so there was no point in keeping money blocked in a trade where chances of earning was very less.

  • So I rolled down both the spreads to 11350, 11550 and 29300 29600. I did not change my position sizing.

  • There is a chance of a bounce tomorrow also, but I will handle it at that time.

For now here are net positions:

4 May 2019 - 16 May 2019.xlsx

Rohit Katwal

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