NIFTY FIFTY

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ravi1967 said:
dear amitbhai
i have sold HLL may 290 put at 14.5, sold one HLL may 280 call @4.6 and bought may 270 put @4.6. what will happen if i allow these to expire. as per model caluclations using hoadley option software(free), i stand to lose 11500/- at expiry. but if i close these now, i may lose around 40000/- i dont know what to do.please advice.
Hi ravi1967,
First of all you should have posted this in the derivatives thread.

Now for your position , what I would have done is to book profits on the 280 call and 270 put and use this money to buy a 300 put and leave the position to expire.
It should reduce your loss. Of course all the above if possible as liquidity would be pretty low.

All the best
 
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SGM

Active Member
vince said:
Now for your position , what I would have done is to book profits on the 280 call and 270 put and use this money to buy a 300 put and leave the position to expire.
Gr8 concept Vince, u converted a lemon into precious stone ....
But unfortunately no liquidity as already pointed by u, only buyers / no sellers for HLL 300 Put.

HLL 300 Put only buyer @ 50.85
HLL 270 Put only buyer @ 31.25
(effective would have gained 10/11 points over previous position)

Can look out for other cases like this in 2morrows mrkts, looks good even for initiating a position...

Sorry Amitda for posting this here....

Regards
Sanjay
 
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Hi Sanjay,

As you well know we often have to undertake repair strategies if a trade goes against us. However the above seems to be an example of a trade taken without any plan, and a good example of analysis paralysis.

Lets hope ravi gets off as lightly as possible.
 
i agree with vinceji.hope amitbhai does'nt feel offended with my post here.actually i was in a credit spread with a sale of one 300 call @5 and one 290 put @14.5, targetting 290-300 range in HLL. however as the markets tumbled i, repurchased 300 call and sold 280 call and also bought a 270 put to protect the downside as i felt the odds were against me. so thats how i got into this muddle. !!!.the first trade was done on 4th may and last was on 15th may. if the 290 put is exercised, then i will exercise 270 put and complete the sale.
a request to traderji.please move this discussion to options forum.please
 
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AMITBE

Well-Known Member
The market is in a terrible state, and closely resembles a badly mauled Ragdoll.
The Ragdoll is a breed of cat, and to take its description from Wikidedia, is best known for its docile and placid temperament and affectionate nature. It is perhaps the gentlest and most easy-going of cats amongst all the breeds.

So who mauled Ragdoll.
Dog eat dog of course.
And it seems one breed of dog is the all powerful breed.
Its better known as FIIs.
First they raised this breed.
Then they trained it to be the killer hound.
Now its running amuck, in a murderous frenzy.
When it tosses up Ragdoll, the owners gloat with glee, saying just look at how gravity defying is our Ragdoll Mcavity! (Some readers may remember TS Eliots immortal cat that lives well past the nine lives.)

Then Mcavity fell back into the waiting pack of ferocious dogs, who in any case were just being playful then as they are being playful now.
Except, its a deathly game.

Moral of the story, dont you ever go defying the jaws of gravity.

I know all of the above sounds rather abstract and giddy, but there is truth there, as I know it.

Today the game would be even more ferocious in either direction.

For supports, Im going deep at this point, but will revise later again. And no red marks today as they are unlikely to work.
3109-3103-3097-3091-3085.
3082 is important.
Then 3075-3068-3061-3054-3047-3040-3033-3026-3018.

To the up the line is 3118-3121-3124-3127-3130-3133-3136-3139-3143-3147-3151-3155.
This is for now and will update later.
 
C

Czar

Guest
I cant imagine how can you come up with such wonderful examples everyday...if you were a girl I would say "you facinate me"
 
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AMITBE

Well-Known Member
Czar said:
I cant imagine how can you come up with such wonderful examples everyday...if you were a girl I would say "you facinate me"
You seem to have a penchant for these nicks...Baron, Czar...What's up?

Er...but now you're sounding like Rasputin, eh? :eek:

Any way, for those interested to know more about TS Eliot's Mcavity the cat, from where came the inspiration for the Ragdoll, here's the great poem.

There's of course no similarity between our Ragdoll, (who again got a savage mauling at open, and a playful fling skywards at close), and Eliot's imperishable Mcavity. :)

Macavity: The Mystery Cat

Macavity's a Mystery Cat: he's called the Hidden Paw -
For he's the master criminal who can defy the Law.
He's the bafflement of Scotland Yard, the Flying Squad's despair:
For when they reach the scene of crime - Macavity's not there!

Macavity, Macavity, there's no one like Macavity,
He's broken every human law, he breaks the law of gravity.
His powers of levitation would make a fakir stare,
And when you reach the scene of crime - Macavity's not there!
You may seek him in the basement, you may look up in the air -
But I tell you once and once again, Macavity's not there!

Mcavity's a ginger cat, he's very tall and thin;
You would know him if you saw him, for his eyes are sunken in.
His brow is deeply lined with thought, his head is highly domed;
His coat is dusty from neglect, his whiskers are uncombed.
He sways his head from side to side, with movements like a snake;
And when you think he's half asleep, he's always wide awake.

Macavity, Macavity, there's no one like Macavity,
For he's a fiend in feline shape, a monster of depravity.
You may meet him in a by-street, you may see him in the square -
But when a crime's discovered, then Macavity's not there!

He's outwardly respectable. (They say he cheats at cards.)
And his footprints are not found in any file of Scotland Yard's.
And when the larder's looted, or the jewel-case is rifled,
Or when the milk is missing, or another Peke's been stifled,
Or the greenhouse glass is broken, and the trellis past repair -
Ay, there's the wonder of the thing! Macavity's not there!

And when the Foreign Office find a Treaty's gone astray,
Or the Admiralty lose some plans and drawings by the way,
There may be a scrap of paper in the hall or on the stair -
But it's useless to investigate - Mcavity's not there!
And when the loss has been disclosed, the Secret Service say:
`It must have been Macavity!' - but he's a mile away.
You'll be sure to find him resting, or a-licking of his thumbs,
Or engaged in doing complicated long-division sums.

Macavity, Macavity, there's no one like Macavity,
There never was a Cat of such deceitfulness and suavity.
He always has an alibi, and one or two to spaer:
At whatever time the deed took place - MACAVITY WASN'T THERE!
And they say that all the Cats whose wicked deeds are widely known
(I might mention Mungojerrie, I might mention Griddlebone)
Are nothing more than agents for the Cat who all the time
Just controls their operations: the Napoleon of Crime!
 

pkjha30

Well-Known Member
adilsaleem said:
Hi Amit
Just a quick question, Is it time to short sell or stay out , i mean are we looking at a lower level from here in the coming months?
Hi

Message is clear. Watch National Geographic Special on wild dogs and possibly cats or else read poetry if you don't want to be ragdoll.

Power of FII will be revealed when bearlings wanting to short will be hauled up before the coal.

Scarry Movie Part -III is going on. Suspense is not yet over.

Pankaj:)
 
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