IRON CONDOR-option trading strategy

[lokanathpai]

POSITION ON 24/11/17
DEC10600CALL BUY 1350 82.00 -110700.00
DEC10700CALL SELL 1350 50.60 68310.00
-42390.00
DEC10000PUT BUY 1350 39.50 -53325.00
DEC9900PUT SELL 1350 29.50 39825.00
-13500.00
RESULT -55890.00
PROFIT RETENTION 9180.00

 

[sahen]

CAPITAL 2077321
RISK AMOUNT 10% 207732
INVESTIBLE AMOUNT 1869589

MAX OPEN CALL 10500
PUT 10000

MAX RANGE FOR NIFTY SINCE LAST 5 MONTHS 572
AS NIFTY DID NOT BREACH 10000 UPTREND IS MAINTAINED
HENCE 10000 + 572 = 10572 - UPPER RANGE
IRON CONDOR PAIR FOR DEC 17 SEREIS IS 10600 - 10000
HEDGE 100 POINTS AWAY
HENCE HEDGE IS 10700 - 9900

CALL 10600 95.20
PUT 10000 53.85
149.05 --A
HEDGE 100 POINTS AWAY
CALL 10700 62.40
PUT 9900 38.45
100.85 --B
INCOME : (A-B) 48.20
MAX LOSS (100-INCOME) 51.80
TRADEABLE POSITIONS-LOTS(RISK AMT/MAX LOSS) 53

PER LOT Rs 50000/- MARGIN AMOUNT REQUIRED.
ON TRADEABLE AMOUNT I CAN SELL TOTAL 36 LOTS
MEANS 18 LOT CALLS AND 18 LOTS PUT

TRADE ON 20/11/17
DEC10600CALL 1350 95.20 128520.00
DEC10700CALL 1350 62.40 -84240.00
44280.00
DEC10000PUT 1350 53.85 72697.50
DEC9900PUT 1350 38.45 -51907.50
20790.00
MAX PROFIT 65070.00

Max Call open interest is at 10000 Call series and not at 10500 Series. In such scenario why 10500 call is selected?

 

[lokanathpai]

MAX OPEN INT FOR DEC 17 SERIES CALL IS 10500
MAX OPEN INT FOR DEC 17 SERIES PUT IS 10000
MAX OPEN INT WILL INDICATE PRESUMPTIVE RANGE OF THE MARKET AT THAT POINT OF TIME.
BESIDES THIS I AM CONSIDERING ACTUAL HIGHEST RANGE DURING THE LAST 5 MONTHS. (HIGHEST HIGH -LOWEST LOW).
THAT IS 572.
AS MARKET IS IN UPTREND, I AM TAKING PUT STRIKE VALUE AS SPECIFIED BY THE MARKET-I.E. MAX OPEN INT FOR PUT-10000.
CALL IS CALCULATED BY ADDING THE MAX RANGE-10000+572 = 10600.
I AM TAKING WHICHEVER IS HIGH VALUE FOR CALL.

IRONCONDOR WILL MAKE PROFIT WHEN MARKET REMAINS WITHIN THIS RANGE.

 

[lokanathpai]

POSITION ON 01/12/17
DEC10600CALL BUY 1350 14.55 -19642.50
DEC10700CALL SELL 1350 8.20 11070.00
-8572.50
DEC10000PUT BUY 1350 98.50 -132975.00
DEC9900PUT SELL 1350 71.70 96795.00
-36180.00
MAX PROFIT -44752.50
PROFIT RETENTION 20317.50

 

[lokanathpai]

POSITION ON 08/12/17
DEC10600CALL BUY 1350 19.15 -25852.50
DEC10700CALL SELL 1350 9.90 13365.00
-12487.50
DEC10000PUT BUY 1350 41.70 -56295.00
DEC9900PUT SELL 1350 28.50 38475.00
-17820.00
MAX PROFIT -30307.50
PROFIT RETENTION 34762.50

 

[mmca2006]

POSITION ON 08/12/17
DEC10600CALL BUY 1350 19.15 -25852.50
DEC10700CALL SELL 1350 9.90 13365.00
-
DEC10000PUT BUY 1350 41.70 -56295.00
DEC9900PUT SELL 1350 28.50 38475.00

I think it should be
DEC10600CALL sell & DEC10700CALL buy.
DEC10000PUT sell & DEC9900PUT buy .

 

[lokanathpai]

TRADE DONE ON 20/11/17

LATEST IS POSITIONAL VALUE

 

[lokanathpai]

POSITION ON 15/12/17
DEC10600CALL BUY 1350 27.40 -36990.00
DEC10700CALL SELL 1350 14.30 19305.00
-17685.00
DEC10000PUT BUY 1350 34.35 -46372.50
DEC9900PUT SELL 1350 24.20 32670.00
-13702.50
MAX PROFIT -31387.50
PROFIT RETENTION 33682.50

 

[OneThatGotAway]

Noob question
DEC9900PUT SELL 1350 24.20 32670.00 ?
won;t selling 1350 qty require margin of R.s 8,97,477 ?
Geeezyyzz how much money u sitting on

 

[mmca2006]

POSITION ON 15/12/17
DEC10600CALL BUY 1350 27.40 -36990.00
DEC10700CALL SELL 1350 14.30 19305.00
-17685.00
DEC10000PUT BUY 1350 34.35 -46372.50
DEC9900PUT SELL 1350 24.20 32670.00
-13702.50
MAX PROFIT -31387.50
PROFIT RETENTION 33682.50

The pay off chart of your trade looks like following... what kind of condor it is please explain in details for the benefit of learner like me..