Sold call option need guidance

I sold BANKNIFTY18MAY26200CE 46 now its 280+.

what should i do?? shall i wait to till expiry or square off now.
in which case i will have to bear less loss.

thanks .

Why are you selling options?

are your hedging your positions?

Sold is expecting it to become zero, anticipated nifty to fall.
No i am not Hedging

Please don’t play directional by selling options as it is an unlimited loss strategy . And also don’t sell unless you have underlying position.

It’s a risky proposition.


Buddy first of all, even in options, first learn to make money on BUY side, you are not mutual fund or operator that you can sell options and make money.

Secondly first trade on Nifty, then try Bank Nifty. Maybe Nifty is manipulated, but Bank Nifty is outright fraud.

If Lehman brothers was member of Bank Nifty in 2008, these operators would have risen it by 30% on day of its bankruptcy. Then when retailers book loss and go on Long side, then these operators would take it to zero, and to compensate this downfall, they would inflate some other bank like ICICI to 100% up even though ICICI CEO would be in police custody.

This is the level of fraud that Bank Nifty is, what move it takes even the operators sometime dont know.




trading options is a very advanced strategy. you need to able to pinpoint volatility in your direction within a specified timeframe , this will come after lots of experience in markets.

selling naked options for income is a VERY VERY BAD IDEA. you will win 9 times thinking this is wonderful. I m the greatest trader ever and then suddenly BAAM!! all profits gone plus huge loss in just one trade.

Better to buy atm options if you do want to venture out into options.

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My 2 cents … For a day like this (expiry) on position like that (BANKNIFTY18MAY26200CE ITM) … Learn about Calendar Spreads. Keyword in bold for you to explore …

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@MJS. My honest opinion is… Just Square-off your entire position without even thinking… right now. To stop bleeding further. You are sitting on 400+ % loss. Good luck👍

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Thank You all for your response…
Lesson learned, booked loss :slight_smile:
Will be avoiding such mistake again…

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It hit a high of 838 hahaha

What did I tell about Bank Nifty