Update - 22 July 2019

• Another day of mayhem in market. But today it was caused by HDFC Twins and not other stocks. On the contrary Reliance shot up from 1250 to 1285 levels. I was lucky enough to accumulate some more quantity at lower levels.

• When such type of falls come its difficult to decide what kind of position one should create. There are chances of a dead cat bounce. There are chances of a further fall, so decision making becomes difficult. From so many strategies one have to be decisive on what strategy can give profit or loss.

• When market shot up initially, I executed -5X29900 CE, +1X39800 CE of Bank Nifty. I was willing to add more positions later on to call side.

• Later on Bank Nifty touched 29200 and started taking support. OI on 29000 started rising. That is when I took another -2X29700 PE from few accounts. Market bounced till 29300 and added some more positions to -3X29800 PE.

• I still had room for more positions according to my though position sizing. So when market fell, I again waited for 29200 to hold. Market again took support and rather than being little too close, I chose to write -3X29700 PE Bank Nifty.

• Now I am into strangles for various accounts.

Here is the cumulative net positions:

Trading Journal

22 July 2019 - 25 July 2019.xlsx

Rohit Katwal