Nifty thread: Nifty from 16550 to 17350 but we managed to be in profit till now.
1: In this thread will explain how we adjusted iron condor calendar for 800 points movement in nifty.
1: In this thread will explain how we adjusted iron condor calendar for 800 points movement in nifty.
2: We stared this trade with double calendar spread (16700CE-16400PE Aug weekly sell with 16800CE-16300PE monthly buy) on 26th July when nifty was trading at 16550
3: On 26th and 27th July nifty traded within the range so no adjustment was required.
4: On 28 there was gapup of more than 100 points. At this point we shifted PE leg to convert it to calendar (Exit 16300PE-16400PE and sold 16700PE with monthly 16600PE buy).Trend was bullish so shifted 16700PE to16800PE . As nifty kept trading higher sold extra 16500PE half qnty
5: On 28th July nifty was closing at day high and gapup on next day was expected so added a bullish fly(17000 straddle with 16700PE-17200CE buy) . These were of the same week.
6: As expected there was a gaupup of 150+ points on 29th July and the extra 16500PE and the bullish fly were in good profit. We closed 16500PE and this time sold 17100PE . At day closing added 17100PE as nifty was closing at day high. So we had total of 40 lots extra 17100PE sell
7: On 1st Aug there was gapup of 100+ and again trending day. The extra 17100PE were in good profit and now the 16700CE-17000CE was ITM . We closed both of them with along with the buy and then sold 17300CE with 17300CE-17400CE monthly buy(half each).
8: Also at 12 PM closed all put and sold 17200PE with 17100PE monthly buy. As nifty traded higher shifted 16200PE to 16300PE with monthly buy. At this point trend was bullish and buy was 100 but the half quantity CE buy was at 17300 which was saving us when nifty was bullish
9: Today the trade was in good profit so we closed the monthly buy and then buy 17450CE-17150PE. When nifty sustained below VWAP and EMA then we shifted 17300 Straddle to 17250 with CE buy from 17450CE to 17350CE
10: Now max loss is ₹ 24550 for max profit of ₹ 375450 .
10: Now max loss is ₹ 24550 for max profit of ₹ 375450 .
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