Sometimes option buyer also makes money!

Being an option writer, known the edge of writing option. 75% of time writer won the game but rest of the time is for buyer. Yesterday at the near closing of the market i strongly believe that tomorrow will gap up opening. So i bought 5 lot nifty 11250 ce at closing price 35 . As i thought today market opened gap up and now my mtm profit is 42k . I risked 13k.
To make 42k I need at least 1 month in option writing. That’s the power of option. HANDLE WITH CARE.

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Wow. Great. @gopchem

u work on beliefs or indicators ?

Charts pattern in different time frame, volume, open interest, option chain etc but never used any indicators.

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how did u make out that today is surely a gap up open ?

me too waiting for a reply. @HSL @gopchem
Yesterday Nifty index trendline had touched the support level.

When a transaction take place one is long and another is short in position. Both see the same charts but they look differently. Charts interpretation vary with experience.
I am an option writer, if I was not confident in this trade would not BUY 5 lot , 13k matter lots to me.
Finally exited with 48k+ profit.
History always tend to repeat.

didn’t understand from your reply - how did u make out that today is surely a gap up open ? @gopchem

Arrow head candle repeated today. See 8 candle before arrow head candle. Compare today candle and 8 proceeding candle. According to my observation we will see at least 1 more green candle. Let’s see.

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Sold 2 lot nifty 11500 pe and square off with 1k profit also take future position and exited immediately with 1k profit. Currently holding 3 lot sold pe option will square off after 3pm.