[Music]

good evening ladies and gentlemen today

is the 2nd of september and also the

weekly expiry and the idea behind the

weekly expiry is generally the market is

in a new range people don't know the

boundaries of this range yet but as soon

as market holds range for a little bit

everyone tries to build around it um

this morning

we were trading with 17 100 straddle

pricing in risk of 65 points up and down

uh the thing is when market is pricing

in low risk

sometimes works out really well to not

buy into that and

challenge that a little bit because at

the end of the day we almost at one

point tripled that range so um it was

relatively one of those days where uh

for the longest time people who were

short calls did not want to cover calls

for trading and discounts at different

points into up moves there was no

covering and at one point

the 17 200 really had to get covered so

now also and then i positioned myself in

such a way that initially i had a

smaller quantity as the market started

to have certain iv spikes i sort of

increased my position sizing and i also

get my range super wide so that at a

later point if there is a big move i can

then capitalize on it so one of two ways

it could have worked out either big move

would come and i'd be able to somehow

somewhat capitalize on it or the big

move wouldn't come and i would just

close with a reasonable profit target um

so all that being said uh i closed about

two percent uh in the green and it was a

relatively good day but the up move

could have been frustrating at the point

which it was uh taking place due to the

kind of

spiking call options and uh yeah one

more thing was everyone thought what

happened to usd in our id is dead in the

water but just as one starts thinking

that it makes a new uh all-time high i

want to take a double diagonal trade as

well but now is not the right time to

initiate one and i've covered that in

the video as to why it is not the best

time and one more thing that i've

covered in this video is how um you know

sometimes when

we get out of a trade and um you know we

do it with the intention of reducing

risk

and then we realize that we stayed in

the trade that would have worked out

much better uh how do we deal with that

and what's the right and wrong way of

thinking about that i've tried to cover

that also in this video thank you so

much for watching i hope you had a great

expiry and i will catch you tomorrow

take care bye

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good morning ladies and gentlemen time

is 9 43 my first clip didn't get

recorded so

um just go over the plan for today we've

opened with a slightly positive

bias nifty being the strongest uh

relative to all the other indices um

bank nifty we open slightly positive now

um kind of trading flat

ite as well opened slightly in the

positive trading flat nifty open

slightly positive still maintaining a

little bit of positivity reliance very

strong right at the open and moved up a

good 25 points and into the open we saw

a good amount of footwriting at 17 100

and below so there's a strong amount of

support that is built up

and more or less going by the maximum

open interest puts at 77 lakh at 17 000

and call side 81 lakh at 17 200

very simple range and very evident range

so more or less playing the same range

but

this particular criteria which is that

yesterday's closing low if we start

testing that then i will have to take

risk off on the puts and move them down

this particular swing high if we test

there then we'll have to roll away the

calls

currently each of my short legs is

trading

so one is standing in eight and the

other is trading with six point six

either of them it starts expanding to

about

12 13 then i will be taking in

uh credit from the other side

and uh

yeah that's more or less the plan it's

gonna be the first uh expiry that we've

ever had without leverage so

um will be interesting to see how that

turns out and

towards the close i will consider

taking a double diagonal trade and i

will keep you posted on that so

something else to note is the money

straddle right now is pricing in about

65 points in either direction roughly

where i've marked out is the range that

the other money

straddle is also pricing in and

not giving much

space for movement at all

that kind of gives you an understanding

that this position is

much beyond

its pricing and much more risk than

what the at the money-style country is

projecting and the fact that the money

straddle is trading at such a low price

will indicate that even into a enough

move these puts and calls will not

really gain much

because the anticipation of risk won't

go from

quite low to very high

very quickly

we'll keep you posted time is 9.51

basically uh reliance keeps its strength

and
that's more or less keeping the market

quite flat uh something else to go over

and some positional trades

and uh these are all covered calls this

larson covered call is now at the money

arson has just been super duper strong

yeah and

1700 and once again a psychological

situation the reason i haven't adjusted

any of these uh call positions is

because uh i feel like um it's fine i

don't want to take now and disc on the

downside i'm a little bit skeptical of

just a runaway upload which goes

much much much higher than this like i'm

not expecting another uh five percent up

move on the indices

um in the next three months at least so

that being the case uh i don't see any

reason why i should manage these calls

my shares are gained equally so i will

let these calls hold and towards the

close of the month and see what

makes sense to roll over if at all or if

these calls go deep in the money then

there won't be much uh extrinsic value

at which point i will adjust for that so

cover on the nifty government alliance

which is almost close to getting at the

money once again

uh hjc as you see back not really much

of a concern itc is also quite high up

now and i will enter a covered call

position on itc probably at about 220 so

let's see if i can try and sell this

for a good price

okay so a little bit of enough mo coming

from

bank nifty making this light up

and

i'm just taking a look at how open

interest has been building throughout

the entire day basically the whole

market is played in this range at this

point seventeen two hundred

max calls it ui and uh seventeen

thousand max put side

roughly equal uh

open interest on either

a lot of straddles and 17 100.

everybody is playing the same range

which is my premium for solo

um people are happily selling this range

and uh yeah as of now the position

in a good

eight points of gain

the issue if we continue to make enough

move now that some time has elapsed i'll

have to adjust this position

once it starts reaching about

um 9 10 i'll have to take additional

puts i credit because the grade on my

put side is just three

rupees

so i can't let's expand anything beyond

nine without having additional credit

on my put side but yeah that's quite a

while to go

and that's a almost 40 percent gain that

is required from the current market

price i'll keep you posted as of now

um

continue to trade firmly in the grain

but a lot of people who are holding if

we make a

another 20 to 25 point move from here

people who are sitting on this straddle

will

start having to cover these calls so

while we might see so what i'm working

with is

and i'll i'll put like

three points of what i've gained on the

line to sort of work with this what i'm

working with is there might be a in

cases

beyond 17 150 there might be a temporary

shot covering
people who are in these calls that

pushes us slightly over but i'm working

with

this strike holding time is 10 47 we'll

give you a posting okay so we started

showing a little

signs of like further um heading higher

and into that what i've

done more or less is taken some

additional puts that credit

um because

really if i stay at the strike there's

about three points of credit on my put

side and the call was

starting to expand as we were heading up

to test 17 150. realistically 17 150

also very likely expiry spot i would go

with either 17 100 or 17 150

and uh

to just you know take a little bit puts

that credit in order to be protected

against some kind of a quick up move i

have moved up my ports

so more or less criteria for adjustment

remains the same if either of them now

go to about 11 12 at that point i will

be taking additional credit from the

other side and potentially risking off

if at any point my strike is about

25 points from what is considered at the

moment

right so somewhere around there in there

and any point these two are tested i

will just take risk off

in that direction a little bit of an iv

spike as well

mindly but the ports have also gained

into the up

and um

yeah that's the plan time is 1106

and we continue to

more or less see

um this range bound structure not much

unwinding on the 17 100 call

but uh

further edition of 17 100

okay a little bit of an up move and into

this what i've done is i've moved my

puts up further because

as soon as this started expanding beyond

about 11 12

there is really no credit left on the

1750 put so i've now moved my foot up to

17 100 and together the short side of

the position is trading for about

23 to 24 and my hedges are trading for

slightly less than four

so if either of these expands now if

this 17 200 call expands till about

18 19 i will have no option but to

square this off and sell the call which

is uh 17 250.

i cannot sit and let this bleed but more

or less i think this move is in line

with the anticipation that

157150 was always a potential

expiry situation so i'm not too

concerned as long as

i'm out of money by at least

25 points so i'm not concerned

until that criteria is broken and the

thing is there is enough credit

available

and 17 100 put um in order to make

holding this worth it uh because if

there wasn't much credit left at the 17

100 then it would not make sense to

sit on this call shot but that being

said um

i've also sort of taken advantage of the

fact

that we've made this up move and i've

brought in my hedges and increased my

sizing by a little bit so yeah currently

about potentially

i would say

19 points

that can be uh captured on this position

we'll have to wait and see i might be

put in a situation either of these

expands to about 17-18 i will have to

sweat it off and roll it up i'll keep

you posted time is 11 28 and as of now

the 17 150 straddle is pricing in

slightly over um 55 points so about 57

points in either direction that would

give us either 17 200 or

17 100 as far as what the rest of the

market is doing it's pretty much in line

with that 17 100 put open interest now

is maximum open interest and a little

bit of unwinding on the 17 200 call but

not to a large extent still firmly above

80 lakh

and uh

yeah

some amount of 17 150 port writing as

well but 17 200 put still

not significant so this is more or less

where we stand and the idea for changing

this also is

quite straightforward so

we'll keep you posted time is 11 30.

okay so one question i'm uh getting in

the group and this is interesting is how

the um 17 100 call is trading at

absolutely no time value see that's

because most people who are

short this call probably have enough and

more positions which are

in the money so they have short

puts which are either at

17 150 or 17 200

which is why the demand supply for this

is matching in such a way that there is

absolutely no time value from this can't

give up so

that one way of interpreting it is that

there shouldn't be too much upside

because there is no

extrinsic value being priced in at all

or even if that expensive value is being

priced and it's being priced in negative

so definitely the market is of the

opinion that no that will not be

uh too much upside from where we are

that is um how i would

think the look of it

as of now we are holding in high levels

and with the way things have been

restructured the new range now becomes

17 100 and 17 200 with 17 150 uh

constantly and steadily building more

and more open interest and then 150

still trading for a good uh

50 plus and uh

it sort of gives you the same range so

for now i'm playing the same range as

well and one of two things can happen

either we can have a volatile move in

which case most likely will get pushed

out of either option because either one

heading to about 16 17 i will have to

take risk off on it and uh

or

over a period of time

the spread gives up value in which case

i'll be drilling my stop-loss further in

and trying to capture what i can well

that's where we are ideally i think ever

since the

uh dollar took a beating against the

rupee um it's more or less

looking like in the short mid term

has made a talk previously and will not

be

making too much of an upset so that

might have completely arrested the

momentum that was then 90. but other

sectors are picking up

some cg is looking strong

infra is looking good

and

yeah banking as well it's okay nothing

great but

it's it's basically all the other

sectors that are picking up

the index so that being the case will

keep you posted time is almost about 12

o'clock so we're reaching the halfway

point and currently as of now the range

for today um

17 100 17 200 um looks to be the range i

would

think that 17 150 is a high likelihood

of expiry or below i don't see too much

upside coming

is what i'm of the view so

we'll keep you posted we had a mild

date

and after that immediately this tip gets

part so now this is a very bullish

structure

and into that definitely people who have

now sold because most people have sold

17 200 call you'll be like okay look

it's rejecting it's not gonna take it

out but

now with this down move uh and getting

completely bought back and a lot of

strength from reliance reliance uh keeps

heading higher and higher to 2300

so that could potentially put these

calls

at some kind of risk the good thing is

that because it's the same

understanding of information on both

sides the put has given up some value

now basically here i will be exiting

this at 15.

if it goes to 15 i will start

i will first exit half my position move

it to 17 250 on the call side and then

i'll exit the other half it would expand

to about 16 and a half 17 and completely

just take off the risk on the

call side because now it is becoming too

close for comfort my calls are just 20

points out of the money the

um standard price remains the same and

obviously the

17 150 call has expanded quite a bit so

it will be an interesting juncture to

see what happens now there hasn't been

much covering through the entire day of

the 17 200 call it's remained quite

strong

so that can work in two ways

one it can mean that the level gets

defended or to um if there is a shot

covering and barely get pushed up

another 50 points from there and

considering the price of the 17 250 call

it's not like that is particularly safe

but at least my puts out credit will be

superior to the call side at that point

so

so it will be an interesting situation

um

see how it turns out

okay done with the first half

basically at the halfway point we're

holding at these higher levels and

very quickly the

17 200 invariably is starting to give up

value whenever we're making a down move

the thing is i couldn't have sat on my

position it would have been too much of

a headache to deal with so at about um

because i didn't reject in time at about

15 when the price at 15 my execution

price is 14 or so

i squared off my calls moved them higher

and i also squared off my puts and

rolled them lower because i don't want

to deal with the reversal so i took my

100 points triangle and made it a 200

points triangle it's because um they're

heading to the midway point and we've

drained it up the entire day now if we

have an either even more continued

breakout where the calls are not pricing

in that much upside risk to begin with

it would be a headache if you have a big

rejection also it will be a big headache

so um rather than just moving up my

calls i've also moved down my puts

and

that effectively gives me a credit of

not a lot about four points is the

credit that my trade has

four points of credit and uh

for now i'll keep my position this way

ideally if there is some kind of an iv

spike then i will try to enter into that

ib spy and take more credit or wait for

um a time which is closer to 1 32

o'clock to try and take additional

credit on this position to keep you

posted time is

12 42 and yeah i think so far

more or less things are holding as they

should it's just that i would much

rather avoid the headache of dealing

with short covering uh much before

then after

okay so something that i get very often

and i think this ends up

working really badly on the mentality of

a lot of people so

it's a question like for example i rest

up on this position

at 14 and uh n7 77.5 something like that

so let me just see

after that
so i just stopped somewhere over here

at this point i didn't want to deal with

it anymore after that immediately the

call crashed to eight and at that point

the spread was trading for something

like 17 i exited at a price of 22 and

just like that bam it lost five points

and a lot of people when they do that

they feel really bad like oh i shouldn't

have a staff i should get my calls

because they'll see they're like okay um

even though it dipped and then got fully

bought back even then the call is now

trading cheaper than the price at which

i exited and this is

a stupid way of thinking and if you're

ever thinking like that please get it

out of your mind because when you take

risk off which is essentially to a

strangle you're adding a bull call

spread and a betrothed you're just

spreading you're saying okay whatever

i've captured so fast fine i want to

reduce my overall uh risk reward now

it's an active step you're taking

majority of the time when you do that

and especially when you're thinking of

doing it everyone else will also want to

be doing it after you do it you'll

notice that your initial position will

make uh more profit than what your wrist

off position with and this will happen

and say frankly eight out of ten times

minimum

after you're scared of sitting in a

certain position and you take a risk off

and then you say oh my god the trait

totally went in my favor yes but the one

time that it wouldn't have it will hurt

you it will hurt you and if you don't

want to deal with that uh it's better to

get out early

and take risk off early then and wait

for a point where you're already

bleeding and then you're trying to take

risk off so that's more or less how you

have to think of it fully accept the

fact that after you exit a potentially

more profitable position that position

will majority of the times make that

profit that you won't be getting and

that is something you have to accept

also depends on how you want to define

your risk or some people say you need to

have the conviction that's fine you can

have the conviction but

if for example you are potentially

looking at

a two percent or three percent return on

expiry date and and you're willing to

give up one and a half two percent then

that's very different than for example

what risk about i came in with my idea

of the expiry is i'm able to make one

one half percent that's great if i can

push out two percent when the situation

is deeply in my favor like for example

what would have been deeply in my favor

if you literally when i'm said 100

points triangle if you literally traded

in like a 40 50 point range above and

below that would be in my favor right

now it's happening we're only holding at

high levels so i cannot just hope that

okay we're suddenly going to have a

rejection i can't hope for this when i

exited it it was about here right this

candle i did potentially what can now be

seen as the worst price on this triangle

but

i can't hope for this

if i'm sitting there and hoping for this

to happen it's going to really bother me

and that is going to actually throw off

my mentality as to what i'm doing right

or wrong like if i was sitting here

hoping that it goes in my favor and then

goes my favor i'll have to always look

back and say that was

the wrong thing to do so a bit of rant

um we are at one o'clock not much

happened we once again dipped slightly

got heavily bought back in which is

holding this very tight rain so um we

are staying above uh

staying about here and at different

points i'm just looking at the pricing

of the 16 200 call

people are not very afraid of it like uh

people who have shot the scholar just

not very afraid of it they're not

covering i think we even went right now

just

um we went all the way till just eight

points away and at that point also when

we were eight points away this call was

not trading for more than

14 15. never spiked beyond that see it's

in fact having a lower low it didn't

even spike to 50 or 14 and a half so

that just shows you that

people who have written calls there are

just not willing to get spooked out and

we still got half day left to go so yeah

i will keep you posted at this point

like same that four points of credit is

what is then a little bit more than four

points spread it is what is there in my

trade paid quite a bit for hedging um

aging costs so

16 000 17 000

almost uh

85 000 just paid for hedging so

that that is

that is what hedging costs but anyway

we'll keep your poster time is um 107

and uh as of now i'm happy with where my

position is it has no credit in it and i

want to either so when do i want to take

additional credit if there's a big move

right again this is a shot covering

above 17 uh uh

200 or there's a big down move and

ideally into a up move i will not be

taking too much credit but in your down

move i'll try and take more credit so

and that will when there's probably

one and a half hour two hours left to go

for the trading day okay one more thing

that i kind of take for granted a lot of

the time is that

people watching understand my analogy as

to why i'm doing certain things at this

point when i'm risking off on the calls

firstly why am i also risking off on the

puts that should be fairly evident it's

because um the calls are an iv spike

inputs have given up as much as they can

um so in case there's a slight reversal

also the puts william that's why it's

better to risk off second thing

now if i'm expecting 17 200 i have

pretty high conviction that 17 200 is

going to hold but there might be

temporary spikes in it to be able to sit

through it potentially i can take the 17

150 foot credit now why don't i do that

the thing is right now the way i see it

the boundaries are seventeen one hundred

seventy two hundred with maximum people

sitting at seventeen magnificent now

when we are at one edge of the boundary

if i move my put option to what is going

to be where all the major straddlers are

sitting a quick move let's say these

guys are able to pull the market down

down will completely explode the calls

and my

sorry explore the puts and my calls will

not be able to deal with it so rather

than taking on additional uh risk and

taking on additional potential for

reward i would rather take the risk off

that that that is the analogy when i'm

at this what i'm considering a boundary

when you're not and i'm not expecting

some big up move from here i'm expecting

potentially holding there maybe uh

spooking out a few of the call sellers

and then holding range or coming back

that is why i am not moving up my books

and secondly

um

if you see some of my earlier videos

right so if you see when we initially

started making this series in jan

i would take very high risk towards it

so i would by the time it's around two

o'clock i would be in like a straddle

position and keep a very high risk

reward go inverted and that was like the

steady expiry uh thing that was one at a

time when

ivs were much higher premiums available

were much higher and secondly i used to

trade with one fifth the quantity and

interestingly was trading one-fifth

quantity with such a high risk reward

sometimes returning

10-12 percent would actually work out in

net figures to better profits but at the

same time with my current sizing i

cannot do that mostly because if i'm at

the money in this big move when i try to

exit i will have to pay huge slippage

there will be a big cost of

trying to exit that trade so that's a

cost that i cannot bear and the cost of

doing that itself i mean one day of

terrible slippage and at the money

strategy can

cost you more than you think so

all that being the case we're now more

or less holding range and

what i'm working with is that we'll

probably expire as close to 17 150 as

possible so

we might deploy and head back or we

might hold range and finally get back

but what i'm working with is um

17 150 is probably the most likely spot

expiry to keep your posted time is

almost two o'clock i don't particularly

see any opportunity in taking any credit

if there is some kind of a big move like

we come back to like 17 100 stuff like

that i'll try to move up my boot and

take a little bit more credit there i'll

also move down my call at that point 17

200 but

until something like that will not will

not be doing anything we'll keep you

posted as far as credit is concerned my

bootleg has just about one rupee one

person and my colleague has about 75

paisa
not not too much more to gain from here

unless there is an opportunity okay so

it's always like nifty id that has to uh

play spoilsport and uh yeah so nifty id

this uh consolidate for a while till

about 12 30 the one o'clock start being

in up move

and completely rocketing up and that's

pushing the index up quite a bit but uh

the thing is if you look at this 17 200

concentrating in 19 with the spot being

13 points in the money 13 points 14

points

uh it's just the market is not having it

like this is quite

it this is quite insane like this is i

mean you'd expect

generally around when you're testing

let's say 17 190 195 that's when people

panic and get out but they're not

they're not panicking they're not

getting out but there has been some

amount of call and minding and uh good

amount of footwriting at 17 200 now

which is reaching about 60 lakhs what

i've done is um

into the last 50 minutes now that it

makes sense i have moved up

my puts now because

i mean realistically it doesn't make

sense for me to sit on the 17 100 foot

anymore this won't be any credit left

some 50 paisa with the potential for

these calls exploding so

i moved them up currently this is

trading both put together at about six

rupees if either one of them

individually expands to six rupees then

i'll be taking corrective action if not

i'll just let

whatever falloff has to happen fall off

and that is more or less the plan very

very interesting like into the upcoming

as well these calls are not really

getting uh covered there is there is no

panic covering even now even after it's

in the money so i think for a second

maybe a little bit but not much more

than that let's see

yeah for a second it exploded from about

16 to 26

but after that

not not really buying into the up moves

very much anyway now that i've moved my

put up the first is a reversal risk and

but at the same time i did it at a point

after the breakout was done so once once

this up move was done uh people who are

convinced of this up move started

selling heavily the 17 200 uh

put once that was done is when i moved

up my boot but there is still obviously

a reversal risk that's why at about five

and a half six is where i will uh get

out of it keep you posted we've got

about 43 minutes to go for averaging

currently in terms of credit my position

has little bit less than five months

like four point seven in credit okay the

time is 225 and uh basically eventually

the 17 200 call had to get covered to

quite an extent there's a pretty large

amount of writing of the 17 200 put

i'm not writing the 7200 put because i

know i wasn't sitting on the 7200 call

so i'm not at as much threat i moved my

puts up to 17 150 at about 3.9 and uh

yeah that has given up a little bit and

these calls are fine for now they're not

really completely at threat

i wouldn't think so i think um that

being the case though i still might have

to move to the 17 200 if these start

expanding to about 5.56

so

we'll have to wait and watch for that

and as far as uh

yeah absolutely any other day is hot as

far as how the day has been

you see when we opened here

17 100 the 17 100 straddle was trading

at

65. from there we basically

double the risk of what the starter was

pricing is the actual move

so

uh that can be pretty

hard to deal with

okay

yes it's that point now where i have

no option but to move up my books

i will have to move up my hedges as well

okay calls really starting to expand now

and uh

currently given this position i will be

having to

exit

if either of them expands to about

12 this is trading at 7 and this at

eight point five

um

what i'll do is i'll be risking off on

the call i'll just square off to 17 to

50 call

and move it higher 217 300. okay um 27

minutes to go for averaging and more or

less i'm doing two things now i'm

running a trailing stop loss on the

entire position of three points so um

anything more if this short position

expands

um to a net credit of about

14 i will be exiting and i have exit

everything order which will do about

one-fifth the position at a time i also

have an order that will do uh half the

position at a time but that will lead to

big slippage so i'll not be doing that

and i also have a risk of orders in case

we start moving in either direction to

take risk off in that direction i think

highest probability now would be

17

200 to 17 250 clause and that's what the

data will also tell you with the high

probability of the 17 200 strand

going to zero so uh

more or less the idea is if there is a

reversal then the falloff on the call

side should

call side iv should give me a good

enough exit on the puts as well

um last 27 minutes and what i mean like

it all depends on whether or not the

market gives you an opportunity to take

additional credit and looks like

right now we have that opportunity also

one more thing um as the position

gets closer and closer to averaging

you'll notice that my size has steadily

increased that's because i'm bringing in

my hedge

and increasing my position sizing

because there is that much lesser time

and headache to deal with

so that's also something to note okay 17

minutes to go strangle is now trading in

eight so the point at which i'll be

switching out uh will be if either

expands to seven

uh because beyond that it would be too

late so

um potentially these calls once again a

threat

would be interesting to see

if

it's unlikely that

not only have we taken out this and then

we take out this and i'm not seeing as

much put writing at 17 250 most of the

17 to 50 puts have been written by

people who have calls that maintain the

money so um more or less that's what the

trade works on right now right now it

makes no sense for me to see what i'd

doing what alliance is doing for bank

nifty bank nifty able to hold this

36 800 and expect perfectly at 36 800 or

will there be further short covering or

will that be

none of that makes any sense to me right

now

the only thing that should make sense to

me is my position has

a credit in the short legs of about

eight eight and a half right so that's

how much i can get and then you minus

this so roughly you can say a little bit

more than seven if either of these

expands to seven i need to cut it out

and then switch my legs so at least i

can capture then an additional two or

three and effectively uh that position

would um

be a winner right and it's basically

you're trailing in your exit at that

point so i'll keep you posted 15 minutes

to go for averaging will be interesting

to see uh what happens

okay so it's about 6 20

and uh what i'm going to do is let it

expand till about 8 that would be a good

enough thing

the 17 to 50 put option is trading at

about 18 19 20 so

that gives you a little bit of an

understanding this put option has to go

to zero for this call option to be worth

something and there's about

10 minutes to go for averaging and my

put side credit i still have

about 1 rupee 50

not more than that

so

overall pretty good but right now it's

all about locking in i will have to put

at least one point on the table because

i'm getting one point from here i have

to put one point on the table here to

potentially get

seven points and that is

that's fine

uh i guess i'll just

stick to that approach i don't see this

uh i mean it will take quite this will

have to fall by 10 points instantly for

this to jump by about four points so

that kind of a drastic sudden move is

unlikely

but very much possible which is why i

have to have

my hand on the exit button

very very uh

ready to go

okay there's one way to go for averaging

in the last few

minutes there is

suddenly a spike on the call side

i will let this expand to about six six

and a half at which point i will uh it's

a little bit of a gamma spike there's no

corresponding spot move it's just that

um

international people are very quickly

getting out so you'll have to keep a

little bit wider currently there's about

six points here

and uh

yeah i can i can let this expand to six

that's fine in case it does averaging

will be starting in a couple of seconds

and

i think this position should be good to

hold unless there is some kind of shot

covering situation at which point at

about six rupees i will be getting out

of this call side

i'll keep you posted averaging should be

starting

any time now and there we go averaging

is started into averaging we are first

few seconds not really making any move

and

maybe slightly on the upside what will

be interesting to note is this 17 200

call is going to basically give us uh

whether or not

this 17 to 50 call is a threat

only if this expands

over 50 will then there be a threat to

this call option so

yeah

we'll keep you posted everything just

started and uh

first few seconds

making a slight up move but because it's

happening at averaging now these calls

are not exploding as quickly

and if the move doesn't happen and it

doesn't actually pull us over 17 250 in

the first

few minutes then it's never going to

happen also i wanted to take a double

diagonal trade

but it'll not be happening today i will

not take this trade when we're closing

at an all-time high i'll wait i'll see

tomorrow how uh the market is positioned

and accordingly i will uh take that

trade but yeah cause absolutely melting

now because uh that attempted move

didn't come true now the only way um

this position is ever a threat is that

either of these expand to 50

which um so far doesn't look to be the

case right and it will be quite

difficult to change the average uh after

the first few minutes and really push it

beyond any particular strike yeah i will

keep you posted more or less i will exit

either of these now if they expand to

three there's three points here and

that should be potentially the last

trade i take

okay looks like that's about it uh it's

either expands to two i'll be getting

out uh 17 200 and 17 250

holding and

i'll let this position expire completely

i will not be squaring it off because no

more mis right

so uh at the end of it it should be

getting about let's say

135 price minus 50 so 85 pipes more

and

85 price more is about 45 000 or so

and um

yeah i can now take a look at uh some of

my other trades and see if uh anything

needs to be done reliance made a bigger

move today 2300 now when i sold these

calls up to keep in mind the lens was at

uh i think

2160. so i've got about 140 points

profit in my shares and i have about

1200 shares of reliance and it's called

give me 30 000 so that's fine i'll keep

this as is at the end of the month i'll

do a rollover because it means overall

the trade it's a the position itself uh

is benefited big time but um

yeah now these calls potentially are a

threat and any further up

i stand to give up some of the gains

which i will see if i have to manage we

are in an extremely uh bullish mindset

and

yeah since i've already benefited in the

bull run with my uh

holdings here i'll not be making any

changes to this same with nifty nifty in

covering nifty b's i'm not even covering

uh

one-fourth so it's fine it's a single

lot it's um in the money now let it be

in the money and see what to do about it

later same thing with larson when i sold

uh this call option larson larsen was

trading below 1600. now it's trading at

1600 i think it's nice at seventeen

hundred sorry

it's been in this

steady state okay it's below so it's

fine i'm gonna leave that as is

as you see my kgs are all gonna be left

alone and

about one rupee left to go since i'm not

actually going to be squaring this off

okay i'll i'll just go okay so one more

thing uh people who

want uh these orders they'll be

available

in the telegram group group

i think it was an okay day um

definitely the last up move would have

caught some people off guard and would

have burnt them would have at least

pushed them out of their positions uh

very likely and

apart from that should have been

manageable okay that should be about it

there's about uh 40 paisa in my short

position putting 45 percent in my long

position about

30 percent another 15 by size what i'll

get

and we'll be closing slightly above uh

gate for the day and i'll let this

expire and finally we'll have to stop

paying zero

for uh

the outer square off and whatnot i

wanted to take a double diagonal but uh

two reasons i'm not doing it one play

india which is up you don't want to do a

double diagonal uh initiate one then

india which is up because ideally you

want longer dated options to crash a

little bit once now when does that

happen when market understand okay this

range will hold and on it will not hold

when you are closing at a

all-time high so

that's why it's not the best time to do

a double diagonal see tomorrow how

things

are looking and accordingly uh i will

position myself

so yeah that's about it i'll be letting

this expire worthless

there's

absolutely nothing left

another 25 or so is what i get

and yeah thank you so much for watching

i hope you had a good expiry and i will

catch you tomorrow

take care

thank you for watching

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