1. Open Within Inside buy : 2021(29) + 2022 (25)
Convert to Iron condor by removing the inside buys adding same hedge strike 1qty and the average breakeven range on expiry was 1-1.5%
28 days where the price remained within the previous day's range.
Convert to Iron condor by removing the inside buys adding same hedge strike 1qty and the average breakeven range on expiry was 1-1.5%
28 days where the price remained within the previous day's range.
Adjustments were not required on 26 of those days. On the remaining two days, when the 15-minute close approached 0.3% of the breakeven point, a butterfly can be created to extend the breakeven range.
Breakout of PDR(26 days):
Scenario 1 (18 days): Breaking out of PDH/PDL but within 0.3% of breakeven point add butterfly to extend the breakeven range.
Buy 4x of OTM1, Sell 8x of OTM3 and buy 4x of OTM5 (e.g 13-Jan-2022, 28-Apr-2022)
Scenario 1 (18 days): Breaking out of PDH/PDL but within 0.3% of breakeven point add butterfly to extend the breakeven range.
Buy 4x of OTM1, Sell 8x of OTM3 and buy 4x of OTM5 (e.g 13-Jan-2022, 28-Apr-2022)
If the breakout fails (2 consecutive 15mins close below PDH) can cover the OTM1 buys and buy same qty of OTM5 by keeping day high as SL. This helps to increase profit potential (e.g 31-Mar-2022, 23-Jun-2022)
Scenario 2 (8 days) : Breaking out of Multi day High/Low: Close the position and sell naked CE/PE with breakout low as SL.
E.g (18-Feb-2021, 12-May-2021, 10-Feb-2022, 08-Dec-2022)
E.g (18-Feb-2021, 12-May-2021, 10-Feb-2022, 08-Dec-2022)
2. Open at or near short strike : 2021(17) + 2022(20)
Scenario 1: Gap open at short strike, close the winning strikes and keep 15mins High/Low as SL. (e.g 3-Mar-2022, 16-Jun-2022)
Scenario 1: Gap open at short strike, close the winning strikes and keep 15mins High/Low as SL. (e.g 3-Mar-2022, 16-Jun-2022)
Scenario 2: At open if in minor profit/loss and price breaking out of PDH/PDL exit the winning strike and add butterfly to extend the breakeven range. If at open the loss is more than 0.8%-1% adding butterfly doesn't really help as the breakeven would extend by only 0.3%
3. Open beyond Short strike : 2021(5) + 2022(7)
Close all the position at 9.30, most of the days it gave follow through, holding till the 15mins range break doesn't help as the short strike would be ATM/ITM.
Max loss of 23k occurred on 24-Feb-2022 expiry due to 3.5% gap down,
Close all the position at 9.30, most of the days it gave follow through, holding till the 15mins range break doesn't help as the short strike would be ATM/ITM.
Max loss of 23k occurred on 24-Feb-2022 expiry due to 3.5% gap down,
Average loss is 9K for the 12 Big gap days
E.g (4-Mar-2021, 24-Feb-2022, 10-Mar-2022)
All the open price considered here is 9.30
Another variation is if there is any good trending day on Mon/Tue and if the next day open is within PDR we can create batman. [E.g 26-Dec-2022 MON]
E.g (4-Mar-2021, 24-Feb-2022, 10-Mar-2022)
All the open price considered here is 9.30
Another variation is if there is any good trending day on Mon/Tue and if the next day open is within PDR we can create batman. [E.g 26-Dec-2022 MON]
Loading suggestions...