1. We had the BSE Sensex touching 17000
2. Nifty ended up 72 pts at 5089.
Position before trading:-
SHORT 50 NIFTY 4700 April Puts
SHORT 200 NIFTY 5100 March calls
Positon After trading:-
SHORT 100 NIFTY 5000 March Puts (Sq. off April puts and lowered spread)
SHORT 400 NIFTY 5200 March Calls (Spread widening. Sq off 5100 upper limit)
The Spread for March is now 5000-5200 with Breakeven at 4950 and 5240.
On the Stocks, the BETA did not really prove very useful this time.
Long Stock Futures:-
1. IBReal (1300)
2. RNRL (3576)
3. MoserBaer (4950)
Got a bit nailed on the margin today since I had to adjust position due to a rally (Loss on 5100 calls and had to sell 5200 calls at a higher price i.e. more margin deducted).
Plan is to unwind some stock futures at a rally to make up for margin and be able to adjust position if 5150 is broken.
At the downside, we have some room to adjust lower range upto 4700.
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