Purchasing PTON calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 38.00 strike with a July 2 expiration.
CALL
Purchasing NVDA calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 300.00 strike with a July 2 expiration.
Purchasing MSFT calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 180.00 strike with a July 2 expiration.
Purchasing MRNA calls in June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 56.00 strike with a July 2 expiration.
Purchasing IWM calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 136.50 strike with a July 2 expiration.
Purchasing INTC calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 62.00 strike with a July 2 expiration.
Purchasing GOOG calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 1355.00 strike with a July 2 expiration.
Purchasing GM calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 24.50 strike with a July 2 expiration.
Purchasing FB calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 207.50 strike with a July 2 expiration.
Purchasing EWZ calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 26.50 strike with a July 2 expiration.
Purchasing EFA calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 57.50 strike with a July 2 expiration.
Purchasing EEM calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 37.50 strike with a July 2 expiration.
Purchasing DIS calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 112 strike with a July 2 expiration.
Purchasing CSCO calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 43.50 strike with a July 2 expiration.
Purchasing BYND calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 116 strike with a July 2 expiration.
Purchasing ACB calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 11 strike with a July 2 expiration.
Purchasing AAPL calls during June.May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 292.50 strike with a July 2 expiration.
Buying AMZN call options in May.If price returns to March's high, then I'll be looking to begin purchasing call options as close to the 1996 strike as I can with a June 1 expiration.
Trade Log NIFTY May 29First, I'll start with the review of my yesterdays post. Yesterday, I had posted my view and some important levels that I use on the chart.
I had said
1) Trend is up on daily time frame. Weekly trend is up, provided we dont have huge down on Friday. I think NIFTY will gain / consolidate tomorrow.
2) Tomorrow strategy will be to see the consolidation rage. But I wont carry any near the money positions into next week.
And I had marked levels on the chart, which I used in my trading decisions today.Both points were quite obvious. Good thing, market played out to the levels wells. This is no guarantee, sometimes market coincides with your point of view by chance.
My trades today
1) I sold 9500 CALLs around first resistance and closed it at weak support level of the day.
2) Then when high of the day was tested multiple times, it was broken and I sold 9500 PUT which I squared off.
3) Since INDIA VIX is around 30, I attempted to take few overnight positions. I sold some 9900 CALL options. Lets see how it goes. Its risky.
My observations of the day
1) NIFTY closed positive for the third day in a row. 0.95% for today and around 6.4% in 3 days.
2) NIFTY is now in kind of uncharted territory. Less price action in 9500 - 9900 has very less price history in last 2 months.
3) BANK NIFTY unperformed and did not make new high like nifty.
4) INDIA VIX increased little.
5) Advance Decline ratio 36 to 14.
I dont have conclusions, as I have I would like to wait till Monday to have clear view. I'll also post detailed weekly review coming weekend. But from days action
1) BANK NIFTY is not leading the rise. So it may cause NIFTY;s momentum some consolidation and ranges.
2) Overall trend is up and typical bear market rallies are fast.
3) So far this rally has not give any gaps, so next week some surprise gaps can start occurring.
Trade Log NIFTY May 28First, I'll start with reviewing my yesterdays post
I had said
1. I''ll trade light tomorrow and see how we consolidate, what kind of range we form.
2. I'll wait till Friday, or may be Monday, to really changing strategy clearly on long side. But obviously now Bias is on long side as long as we are above 9000.
As per plan, I traded light and also stopped trading around 1.30PM
My trades today:
1) This trade was pretty simple. I sold 9400 PUT on open and waited for first sign of weakness.
2) Then when there was failure to continue, I sold 9400 CALL and then squared near bottom of the range.
My Observations today:
1) Expiry day today. NIFTY gained 1.88%
2) BANKNIFTY gained 2.45%
3) INDIA VIX fell 4%
4) Advance Decline is 42 to 8. Broader market 1245 to 531. So it was broad based buying.
5) For next week, Option data shows bullish bets, Highest OI at 9000 and 9500.
My reading of the price action.
1) Trend is up on daily time frame. Weekly trend is up, provided we dont have huge down on Friday. I think NIFTY will gain / consolidate tomorrow.
2) Tomorrow strategy will be to see the consolidation rage. But I wont carry any near the money positions into next week.
I have also marked important levels tomorrow.
Trade log NIFTY May 27In my yesterdays note, I had said
1. I had said , "Tuesdays price action should be taken as indicative of trend forward". I believe in that and till expiry, there could be down trend continuation.
2. I am not sure if 9000 will hold. 8970 - 8940 is key support region, if this fails, the bias is on short side.
3. Again 9150 - 8950 is the range we are looking at. I am not going to sell options around this range, as this is expiry week and there can be surprises. But trade will come when breakout of the range happens.
I was wrong on my Tuesday reading referred in point 1. Point 2 is invalidated for some time. For point 3, it helped me as I did not sold options overnight. And today NIFTY and BANK NIFTY created large move.
My trades today :
First I closed my yesterdays trade of buying PUT option for loss, as there was no follow through for down movement.
Then I made number of trades all for decent profit and as per plan. My profit was limited, because I had 9200 as target in mind and did not traded much after that.
BANKNIFTY actually offered much clear opportunity on charts. I'll post that separately as it turned out very nicely.
My observations for the day :
1. NIFTY made big candle after consolidation.
2. Today is a day before monthly expiry.
3. BANKNIFTY outperformed and closed 7%+
4. INDIA VIX fell less than a percent.
5. Index breadth was positive, 41 to 9 but overall breadth was OK, 1059 to 712
6. NIFTY closed above 10,20,30 and 50 day simple moving average.
So overall clear trend day. The only suspicious things are
1) VIX did not fell heavily. That means, NIFTY has to consolidate to keep this gains and make it a new swing.
2) Timing of today's rally. Near expiry so, I wont go all in.
My reading
1) I''ll trade light tomorrow and see how we consolidate, what kind of range we form.
2) I'll wait till Friday, or may be Monday, to really changing strategy clearly on long side. But obviously now Bias is on long side as long as we are above 9000.
Trade Log NIFTY May 26My trades today
1. When initial gap up failed to cross 9160, I sold 9200 CALL, which I covered later in the day.
2. Since today's price action was very weak, I bought 9100 PUT for 4th June Expiry. Stop Loss for this is 9160.
What I observe for today is
1) Starting the day, there was lot of positive global clues. Asian Markets and DOW higher 1%+. But NIFTY failed to keep the gains and closed in red.
2) BANK NIFTY was better than NIFTY , but weak.
3) Advance Decline ratio positive 31:19
4) VIX fell by 2.8%
5) 9000 is the key level from Option Chain.
Overall my conclusion is
1) I had said , "Tuesdays price action should be taken as indicative of trend forward". I believe in that and till expiry, there could be down trend continuation.
2) I am not sure if 9000 will hold. 8970 - 8940 is key support region, if this fails, the bias is on short side.
Again 9150 - 8950 is the range we are looking at. I am not going to sell options around this range, as this is expiry week and there can be surprises. But trade will come when breakout of the range happens.
