2023-05-03 Excellent Gap Down Day MTM Profit +6K
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Wed, May 3, 2023
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2-minute read
GAP Down as expected, Profits realized by closing positional took new strategy for the next weeks trade
- Market gap down as FOMC meeting tonight, 25bps expected, US market corrected to that.🔻
- Took a disastorous intraday trade in the morning. I was at ₹ -3,500/- Loss but then took additional position one strike up & recovered loss + made ₹ +2,000/- Profit. ☺️
- By noon markets were extremely volatile.
- At noon I was able to exit my position at minimal loss & took new positions.
- Skipped this week at breakeven.
Took a new Put Ratio + Call Condor Strategy.
- This is a strategy I wanted to try for long time.
- Last weeks Strangle backfired I am motivated to try this strategy.
Initial Setup
- First Installment
- Will add more after FOMC meeting.
Features
- Good profit if market goes up.
- Escape route if market goes down.
- Long range.
- Good RR.
- Less POP, but POP increases as market goes up.
- If market goes down then can escape near 17800 & then do strangle.
- Small loss if market goes nowhere.
- FOMC meeting & many stock results to come, markets should move either way.
Overall a very good day no complaints.
- Realized Profit ₹ 5945/-
- Positional MTM ₹902/-
- Skipped this expiry positional, may do intraday.
- Took new positions for 11th May.
Days History
Current Position