Tuesday, 16 November 2021

How did Banknifty option trading strategies perform today?

Performances of weekly and monthly nondirectional strategy for Banknifty

Banknifty overall strength was bearish today. 38025, Gann level is a critical support for banknifty.

Total open interest

  • Call side 276748
  • Put side 191016

Astro's prediction for tomorrow is bullish.

Option position for BATMAN strategy for December 2021

Payoff chart for BATMAN strategy

Today, I sold an additional put at 37000 because tomorrow I expect to be a bullish day.

Exist plans without adjustment

  • Banknifty future closed below 38000 or above 40000 if no adjustment is made.
  • Otherwise, it will follow the adjustment discussed in the banknifty BATMAN trading strategy for the December expiry.

Update on 25th November IRONFLY option strategy

The price moved near the lower break-even point so, I sold a call at 40000 CE. Now, the maximum loss on the downside is below 3000. However, the loss above 40000 will be unlimited.

I added an additional lot for all the existing 4 legs. 

Exit plan

  • Once profit crossed above 3400
  • Banknifty future trades above VWAP for 30 minutes at least.
  • The price crossed below 38000 or above 39500
  • Otherwise, will close the strategy on 23rd November and place a new deployment at ATM.
Possible future trade

If BNF broke last two days high, will buy two lots of future. We will discuss the strategy if I take the trade

Profit and loss for banknifty trading strategy

Realized profit till 16th November 2021  - 9246 

Unrealized profit 

Monthly BATMAN strategy  ( expiry 30th December)   4421

Weekly Ironfly strategy ( expiry 25th November )           1740

Target 30k by 1st December 2021

Related articles

2% Return in 10 days, Safe Banknifty Option Trading Strategies

How To Compound Money Using Ironfly option strategy

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