Closed (IRA): IWM October 21st 178 Short Put... for an .89 debit.
Comments: By the hair of my chinny chin chin. Filled for a 1.78 credit. (See Post Below). Out on zero day for 50% max. .89 ($89) profit.
Optionstrategies
Closed (IRA): SPY November 18th 320 Short Put... for a 1.17 debit.
Comments: Opened this as part of a three-rung short put ladder for a 3.20 credit. (See Post Below). Out here for 1.17; 2.03 ($203) profit.
Closed (IRA): EFA November 18th 50 Short Puts... for a .23/contract debit.
Comments: Opened these for .52/contract. (See Post Below). Closed here for a smidge greater than 50% max with 31 days to go. .29 ($29) profit per contract.
Closed (Margin): /ES November 18th 2300 Short Put... for a 1.20 debit.
Comments: Taking off some risk/drying out some powder here for "the next one." Filled this for a 3.30 credit. (See Post Below). Taking it off here for 1.20. (3.30 - 1.20)/2 = 1.05 ($105) profit.
Opening (IRA): SPY October 14th 352/December 16th 409 LPD*... for a 43.10 debit.
Comments: Short delta hedge against a long delta portfolio; buying the back expiry 90 delta, and selling the front expiry 30. 43.10 cost basis on a 57 wide with a 365.90 break even, a 13.90 ($1390) max, and a 6.95 50% max.
Will look to take profit at 50% max, which would be for a 50.05 credit and/or roll out the short put to reduce cost basis if the setup doesn't hit take profit by the time the short put runs out of road.
* -- Long put diagonal.
Opening (Margin): SPY November 18th 320/338/388/406 Iron Condor... for a 6.13 credit.
Comments: Putzing a bit with these so-called "synthetic short strangles" ... . Selling the 25's on both sides and erecting long wings out from there. I had to go oddball width with the wings (18.00) to keep the setup symmetrical, since there's only 5-wides on the put side.
6.13 credit on buying power effect of 11.87; 51.6% ROC as a function of buying power effect at max; 25.8% at 50% max. As with my QQQ setup (See Post Below), will look to roll the pairs of sides (long put/short call, long call, short put) for a realized gain and to delta balance.
Update (IRA): SPY Sept 30th 383/Nov 18th 430 Long Put DiagonalComments: As with my IWM short delta hedge, an update to my SPY setup (See Post Below) to push it more to the top of the queue so that I don't have to look for it five pages into my ideas feed ... . As of the last roll of the short leg: cost basis of 46.69 on a 47 wide with a 383.31 break even.
BANK NIFTY for date 22 sept BANK NIFTY is on its way to complete b wave according to eliott wave theory.
and its next way is towards c wave which is boom in the downside direction
I have shown the expected downside targets of bank nifty on 15 min time frame
Remember c wave of correction is visible in 15 min,30 min,45 min,1hr,2hr,3hr time frames
You can imagine the validity of this correction since it is visible in multiple time frames
My anticipated targets according to fibonacci retracement levels are-
1)40350- According to 100% retracement level
2)39562- According to 161% retracement levels
so we can conclude that yet we have a long at least 1500 points downside rally to ride
since buying put is an better idea but go for 2week contracts at the least , as weekly contracts cannot absorb the high range volatility in coming week
other most important reason to trust this correction is because 23rd sept is a gann date
GOOD LUCK TRADERS !!! HAVE A GREAT PROFITABLE DAYS AHEAD
Opening (Margin): /ES November 18th 2400 Short Put... for a 3.10 credit (arrow indicated).
Comments: Would prefer to do this on weakness plus an uptick in implied volatility, but I'm not getting any younger here. 1.55 max on buying power effect of 13.90, targeting the <75% of current price strike paying around 3.00/1.50 (due to 50x multiplier); 11.2% ROC at max as a function of buying power effect; 5.6% ROC at 50% max.
At its core, a bet that that we don't see 2400 by opex.
I've gone ahead and shown all my open /ES positions here, since part of the calculus in making the decision to take a rung off at less than max is its risk relative to other strikes I have on. For example, the nearest to at-the-money strike is currently the September 30th 3210, so I've got my eye on potentially taking that rung of before everything else since it's closer to at-the-money.
Opened (IRA): QQQ October 21st 260 Short Put... for a 2.69 credit.
Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market without actually taking on stock.
Opening (IRA): QQQ October 7th 285 Short Put... for a 2.99 credit.
Comments: Targeting the <16 delta strike in the expiry nearest 45 days paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Opening (Margin): /ES September 30th 3080 Short Put... for a 3.10 credit.
Comments: Already have a September 30th on at the 3210, but adding a rung here on this weakness, targeting the <75% of current price strike paying around 3.00. 1.55 max on buying power effect of 16.76, 9.2% ROC as a function of buying power effect; 4.6% at 50% max.
Opened (IRA): October 21st 369 Short Put... for a 3.75 credit.
Comments: (Late Post). Back from a long(ish) weekend, I managed to sneak this in around the close with my phone app. Part of a longer-dated strategy targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. I now have October 369's, November 340's, December 325's, January 315's, and March 280's in my SPY "ladder."
Nifty Levels for 24/08/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
NIFTY
Nifty is up by 87 points. Nifty closed above 20 EMA , VWAP level near day’s high. We had a highly volatile day. PCR shifted down from 0.60 to 0.83 which is still in bearish zone.
Highest open interest on call side at 18000 (Same as yesterday)
Highest open interest on put side at 17500 (Shifted up from 17000)
FIIs, DIIs & OTHER PARTICIPANTS DERIVATIVE DATA ANALYSIS:
FIIs ( Bullish ):
FII bought in cash market for 563 crores and bought in derivative market contract for 6510 crores (please do continue to read about whether they bought long positions or short positions). FIIs reduced their index & stock future long contracts & added short positions in index & stock future contracts. FIIs took long positions in index call as put contracts & reduced stock call & put contracts.
DIIs (Mild Bullish ):
DII sold in cash for -215.2 Crores. DIIs have slightly added new positions in Index & stock future contracts. Heavily reduced positions in options contracts.
PRO ( Bearish ):
Pro traders have added short index & stock future contracts. Reduced option contracts in index & stock call contracts. Added option contacts in index & stock put contracts.
CLIENT ( Bearish ):
Retail/ HNI added index & stock future contracts. Significantly reduced their index & stock call option contracts. Added index put contacts & reduced stock put long & short contracts.
Shall we continue to expect high volatility in next few days?
Shall we look for buy on dips or sell on rise opportunities?
Please do share your comments. Have a happy, healthy & profitable day ahead!
Opening (Margin): XOP September 16th 118/145 Short Strangle... for a 6.23 credit.
Comments: High 30-day IV at 49.0%. Selling the 25 deltas on both sides. 6.23 on BPE of 13.99. 44.5% ROC at max as a function of buying power effect; 22.3% ROC at 50% max. Delta/theta -.24/14.96.
Opening (IRA): QQQ September 23rd 285 Short Put... for a 2.93 credit.
Comments: Selling premium in the broad market exchange-traded fund having the highest 30-day IV, targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit.
Rolling (IRA): QQQ August 26th 316 Short Put to October 300... for a 1.08 credit.
Comments: (Late Post). Been rolling this for a while. Total credits collected of 9.38 (See Post Below) plus the 1.08 here for a total of 10.46.
I would rather stay in an options contract versus taking on stock, since you can strike improve an option. Another lesson here is that you'll find it easier to roll for more substantial strike improvement if your option is less monied. Consequently, I took the opportunity to roll here with QQQ price whipping up (at one point in Friday's session) -- to 316.39. Naturally, this doesn't mean that the 300 will expire worthless or otherwise be profitable; it does mean, however, that my cost basis will be lower than it was with the strike at the 316.
Opened (Margin): NVDA August 19th 185 Short Call... for a 3.88 credit.
Comments: Delta balanced back to neutral. Total credits collected of 63.63 with a resulting delta/theta of 2/136.
Closed (IRA): IWM August 26th 155 Short Put... for a .55 debit.
Comments: Collected a total of 5.04 in credits with rolls. (See Post Below). Closing out here results in total realized gains of 4.49 ($449). This leaves me with one IWM "rung" on after all the shenanigans -- the September 16th 140. Will look to re-up on weakness/pop in IV such that the <16 delta 45 DTE short put is back is paying >1% of the strike price in credit.
Opening: /ES September 16th 2250 Short Put... for a 3.00 credit.
Comments: Targeting the strike that is at least <75% below where /ES is currently trading that is paying around 3.00 in credit. I already have August 5th, 19th, 26th, and 31st rungs on, so going out a little farther in time and a little lower down the ladder. 1.50 max* on buying power effect of 19.03; 7.9% at max; 4.0% at 50% max.
* -- Due to a 50x instead of 100x multiplier.
Closing (IRA): QQQ July 22nd 265 Short Put... for an .82 debit.
Comments: Plain Jane profit-taking at >50% max. Opened for a 2.69 credit (See Post Below); closing here for .82. 1.87 ($187) profit.
Rolling (IRA): SPY July 15th 400 Short Put to August 26th 391... for a 1.04 credit.
Comments: With only 4 days to go, rolling this down and out instead of taking assignment of shares at the 400 strike and selling call against. I'll keep rolling down and out as long as that remains somewhat productive.
Total credits collected of 11.37 (See Post Below) plus the 1.04 here for a total of 12.41.
Closed (IRA): QQQ July 15th 275 Short Put... for a .35 debit.
Comments: (Late Post). Opened for a 2.81 credit. (See Post Below). Closed out on Friday with 7 days to go for .35; 2.46 ($246) profit.
