Options strategies - In this thread I will explain how a profitable CE buy position can be adjusted to reduce risk. Guess my choice. I will reveal it tomorrow.
1) I had taken a 20100CE long today at 111.2 about an hour before close. 2) Shift 20100CE to 20200CE (50 delta to 40 delta). The payoff will be like this.
Max risk reduced to half

I am sharing an options trade and its adjustments which I did recently. I had goofed up in one of the straddle shorts in Nifty. At one stage I was down nearly 1.5% of total capital but with some hectic adjustments and (some luck) I could escape with almost no loss at the end.
1/n 1) Initiated a #Nifty straddle at 17850 strike on 26052023 for 04052023 expiry at fag end of the day at 15:29 . I had forgotten about this trade as I was on holidays from 27052023.
2/n

#BankNiftyOptions #IronFly
On popular demand I am sharing the adjustments I made to get out with good profits.
1) BNF started trending - brought the CE buy leg inside to 41000CE (at 9:27)did not exit 41100CE (delayed shifting)
2) Naked selling 40600PE (at 9:42 ) using #DOS
+2/n

https://twitter.com/dtbhat/status/1631260367279226880

+2/n
3) exited 41100CE (10:03) and added 40600PE (at 10:22)
4) Now thought of adding a broken wing fly at 41000 (at around 10:22). Brought the buy wing to 40900CE
5) Abandoned the idea and closed 40900CE and 40500CE (part of original IFLY at 10:25)

+3/n

A thread to demonstrate how a profitable options trade can be converted to a crown strategy. Learnt this recently from @NiftyOptionss
I had initiated a naked put sell on 31-Jan-2023
1) Sold 4 lots 17000PE
2) Shifted to 4 lots 17500PE
3) Today shifted to 18000PE
+ 1/n 4) Convert to put butterfly at 18000 strike
-5 lots 18000PE
+5 lots 18200PE
+5 lots 17800PE

2/n

IronFly simulation - Initiated IRONFLY on 01.Sep.2022(Thursday for next week expiry)
ATM Straddle has premium above 350, initiate wings slightly inside this range
+2/n
+ 17250PE
- 17550PE
- 17550CE
+ 17850CE 2/n
02-Sep-22 (Friday) 9:20 Nifty inside the wings
02-Sep-22 (Friday) 15:20 Nifty inside the wings
No adjustment
+3/n

Let us discuss a simple pullback scanner which I use for swing/positional trades.
1) I am looking for stocks which have become oversold recently (as per PMOX indicator) and positive column reversal has taken place.
2) To achieve this I look for PMOX - oversold either in column 1 or column 3.
3) Check whether column reversal has taken place in the current column (at column 0)
4) Next I am adding a few filters -
* Price above MA
* No of boxes in the latest column is less than 10 (this is to limit my SL)

A small multi time frame system to identify stronger stocks based on RSI/SuperTrend/EMA
@Definedge
Conditions:
a) RSI > 55 < 70 in daily
b) RSI > 60 in weekly/monthly
c) Candle close above SuperTrend(10,3)
d) Candle close above 200EMA in daily and 34EMA in weekly/monthly
+ I have published these scanners in TradePoint Web of @Definedge. These scanners can also be developed in TradePoint Desktop.
1) Run these scanners on Multi Time Frame Scanners
+

The thread explains my momentum scanner and how to build it in #TradePoint software.
@Definedge
Conditions :
1)EMA 8 above EMA 34 and rising
2)Candle close above previous 5 candle high
3) RSI above 60
4) Volume above previous 5 candles
5) ADX above 30
1/n Select Double Moving Average 8 and 34
2/n

This thread will briefly explain my stock selection process for trading

1) At EOD, short list stocks which are in bullish formations or bullish patterns on higher box sizes or time frames. On monthly and weekly time frames or 1% 2% and 3% box sizes
2/n 2) from this, short list stocks that are probable breakout candidates. Here I look for follow through to bullish patterns like super pattern , 💯 pole, turtle Breakout , rare occurrence , bear traps etc
3/n