Thread by @itjegan

Created Multi leg Chicken Iron Condor in Nifty On Nov Monthly Expiry

Buy 12300 CE X 30
Sell 11900 CE X 10
Sell 11800 CE X 10
Sell 11700 CE X 10
Sell 11400 PE X 10
Sell 11300 PE X 10
Sell 11200 PE X 10
Buy 10700 PE X 30

BE is 11100-12000. will adjust later

#optionstrading

Exited 11300 PE, 11200 PE, 11700 CE
Sold 11500 PE, 11600 PE, 12000 CE

Here is the new pay-off. Right now the whole strategy is in the net loss of 10K (50K capital)

Break even is right now from 11300 - 12100.

will adjust more if needed.

#optionstrading

Exited 11500 PE and Sold 11800 PE.
Exited 10700 PE (Bought one) monthly and bought weekly options at 11400

Here is the new pay-off. It looks like Iron-Fly at 11800 now.

Break-even is from 11472 to 12128

#optionstrading

right it is in loss of 70 K (For capital 50L). It is 1.4% loss so far

Exited 11800 CE and 11600 PE
Sold 12100 CE and 11900 PE

Here is the new pay-off.

Break-even is from 11550-12250. Right total position is in loss of 85K for 50L capital (1.7%) due to VIX spike.

Hoping to get into profit zone in next week. Both sides are protected

Bought Nov 11400 PE at 4.25 for hedging.

No changes done to the Iron-Fly at 11900.

Here is the current Pay-off.

Break-even is from 11553 to 12247.

It is in loss of 49K now for the capital 50L (Merely it is 1% loss as of now).

will adjust more if needed
#optionstrading

Done nothing today for 11900 Iron Fly

Here is new pay-off

Break-even is from 11553 to 12247.

It is in net-loss of 25K (of 50L Capital) - 0.50%.

will adjust more if needed.

#optionstrading

Done nothing so far for 11900 Iron Fly

Right now it is in profit of 10K (of capital 50L) -> 0.20%

Here is the new pay-off.

will adjust more if needed

Exited 12300 CE at 42 (Bought at 16).

Did not buy CE now. It has become twisted sister now.

Right now it is no profit no loss (50L capital)

Here is the new pay-off

It is back to 10K profit now for the capital (50L) - 0.20%

Here is the new pay-off.

Time decay will start faster from now.

I started this strategy (Condor first->Iron Fly -> Twisted Sister) when market was around 11500, it went up by 500 points and then it came down 11900.

However I could manage to stay in least profit now.

Traditional Short Strangle and Straddle would have been a lot of troubles.

I had done nothing today till now.

It is in profit of 40K (Of capital 50L). -> ROI : 0.80%

Break-even remains same. Here is the pay-off

Exited 11900 CE & Sold 12200 CE
Exited 11700 PE and Sold 12000 CE.

It is in loss of 10K (of Capital 50L) -> ROI: -0.20%

Break even is from 11650-12370.

Here is the pay-off

It is back to 15K profit now without any change on close

ROI: +0.30%

Rest all remain same

Iron-Fly at 12000 brought to 50K profit now.

Bought 11500 PE on Nov 14.

ROI - 1% (50K profit - 50L Capital)

Break even is almost same 11630 - 12370

Stay tuned

I had done nothing today for this strategy.

It is in profit of 75K now (%)(50L capital) - ROI 1.5%

Break-even remains the same

#optionstrading

Stay tuned

Shifted to 11900 Iron-Fly from 12000.

It is in profit of 90K now (Capital - 50L) - ROI -> 1.8%

Break-even 11538 - 12262.

It has tested my patience in this trending month.

#optionstrading.

Had done nothing today for 11900 Iron-Fly.

It is in profit 1.05L (Capital 50L). ROI -> 2.1%

Break-even remains same

Planning to keep till Monday.

#optionstrading

It ended with 1.1L profit right now ROI -> 2.2%.

Had done nothing today so far for 11900 Iron-Fly.

It is in profit of 1.55L (Capital 50L). ROI -> 3.1%

Break-even remains the same.

Planning to keep till Monday.

#optionstrading

Bought weekly PE at 11300. but not touched 11900 Iron-fly.

It is in profit of 1.75K (Capital 50L) ROI -> 3.5%

Break-even remains the same. As planned, will try to keep till Monday and expecting 4% return.

#optionstrading

VIX is not allowing me to exit this strategy.

Let me wait for 1 or 2 days

Exited all with 5% profit.

It is in profit of 2.5L (50L capital) - 5%