How November NIFTY will end?


#1

I am holding NIFTY 10600,10700,10800 Call option for November. What can i do now? Already facing more than 50% loss in this? Shall i hold further or i can sell it?

Please advice anyone.


#2

You’ve gone heavy bullish mode…It was an evident Downtrend which was gonna come later or sooner…Try to hedge your position and cut some losses…As about markets i see 10185 as a strong support for NIFTY. God forbid you if it breaks the support. Your options are decaying cuz of time value closer to expiry.Let’s hope for a market bounce back soon.


#3

Hello,

Looks like significant amount of put unwinding is happening, and we can expect up 9800 levels (if the bears are super strong). And even if the Market bounce back we just got 12 trading sessions left for this month. The problem here is you got deep OTM options which most of the time will not do the favour.

If I were you in your situation, I would try to sell them at tomorrow’s high and would end buying put options.

P.S: This is purely my perspective, and request you to take the decisions at your own discretion.


#4
  1. Exit from your position as soon as you can.
  2. Do not carry any option position more then a week. If you are in loss and your position didn’t turn green within a week period (lets say last trading session of the week) then you must exit and book your loss.

#5

Nobody can tell you for sure how the November series will end. Personally I don’t like buying options, however, looking at your current positions, if I were you, then I would wait for a couple of days to see if the down slide halts or reverses and if it does, then I would buy Call options of December series which are then ATM. In December, there are some state election results in key states of the ruling dispensation, so expectations are high, and volatility would be on the rise upto the election result date which will benefit the long options. And if market also rises then it would definitely benefit. This hopefully will offset your losses(may even give more profit) from the current month Options which are really far away and most likely will expire worthless (should currently exit from them). This is just my personal view, you should decide your own course of action/adjustment.