Discount on future stock compared to spot price. What to do?

Yesterday, I brought SAIL Fut for BTST trade.

The future was trading at discount of 2.47%. But when it opened today, the discount increased to 2.71%.

Hence I made an extra loss of 0.24% because of this.

What can I do, if this happens? I want to wait my position in the morning when market opens.

Should I short SAIL equity in MIS position to exit my position for some hours and hope discount to decrease?

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I Know the basic of future, and why there is a discount. I want to know a practical solution that I can try, if there is any.

looks like sail facing selling pressure, if it will face, then the discount may be widen due to dividend declared of rs:4.
** just a view not a suggestion.

For short term hedge you can consider buying a SAIL Put, or short a SAIL Call for slightly longer term.

@eaglem Your customised chart is really cool.
Just curious, what operationg system is that ? (I’m asking after looking at the icons and logos.Just curious…

@Anikethan I should buy ITM Put, so I dont need to pay much decay or ATM?

Since short term, I would still prefer OTM, 1 or 2 Strike below Price.

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OS of my PC is still windows7 pro 64bit. (also having win10, but it is for back pc)

And the chart is of TV in which fut script has been added to spot chart by compare option.

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apart from the main discussion of minimizing the loss in loosing position, i prefer to exit the position & book the loss, & shift to better stock in which you see better opportunity than this.
according to me, holding a loosing position, kills the enthusiasm, force to change the right strategy and change mind to upset.

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