Update - 8 April 2020

Over weekend, got caught up in a massive move against me. These were the trades I was holding:

1. Axis Bank - Covered at a loss of ₹1600/-.

2. Bharti Airtel - Covered at a loss of ₹9319/-.

3. Infosys - Covered at a loss of ₹4744/-.

4. Indusind Bank - Running at a profit of around ₹24,000/-.

4. Nifty / Ratio Calendar - Managed.

  • When 8500 was crossed and sustained, I immediately sold 8500 puts. I also timed my positions a bit. Together, three trades I covered at a profit of ₹10,000/- approximately. This is when market went one thousand points against me.

  • For Intraday, I sold 8600 put at 91 which I covered at 49.

  • I created some strangles on Nifty which immediately hit a minor stoploss. I also created a Bank Nifty strangle, which I covered. Market was extremely volatile in last two days so when I hit stoploss on my Intraday Strangles, I decided to stop.

  • Around noon, I got a buy signal on Bank Nifty 19000 put which I bought at 408 and covered at around 537 giving a profit of ₹10,000/-.

  • At 19,200/- I felt bearish and sold 10 lots of 20000 CE of Bank Nifty at around 145. I covered half at 65 and sold 5 lots of 17500 PE at 63 gaining the same premium.

  • I added following positional trades: Axis Bank: - Sold 440 CE, Bought 680 CE. INFY: - Sold 680 CE, Bought 720 CE.

Here are how the open positions stand right now:

All the trades are updated in the Journal.

Note - Till the time, volatility doesn't recede, I have decided to stop taking trades through PMS. Bulk position is making it difficult to trade as Option pricing is extremely volatile and entry and exit right now is not effective.

Rohit Katwal

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