09
May
14

Squared off Nifty Strangles

What an unexpected up move it was today !! It was a trailer of up move which we might see on 16th May if NDA gets 270 seats. In my previous post I had mentioned about buying into Nifty strangles (https://writingoptions.wordpress.com/2014/05/06/update-election-strategy-on-nifty/). IV’s at that time were around 34-35, but with today’s up move they have shot up to 44-45. I thought it was prudent to square off Nifty strangles with current IV’s. Nifty is factoring in up move of 9-10% on D-day.

I haven’t squared off my bull call spread & bear put spread on Nifty (https://writingoptions.wordpress.com/2014/05/02/election-strategy-for-nifty/). I will continue with this position till election results.

Disclaimer: These are my personal views and you should do your own due diligence before acting on anything written in this blog. Please take reasonable care while trading in options, especially while selling. I am not advising anyone to sell or buy options. My purpose of writing this blog is to highlight my trading strategies.

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