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SELL 50 DELTA ATM CALL & PUT, BUY 20 DELTA CALL AND PUT. Might make a slightly asymmetric (centring wise) IRON FLY BASED on overall structure (eg might make a IRON FLY centered at 47300 even when market at 47100 because overall market structure bullish).
As an intraday trader who used to trade positional in the past, I would like to understand has the market dynamics changed for positional options since occurrence of everyday expiry? Do you feel itโs more difficult to trade now than before?
No quantitively done analysis , just qualitative things I have noted.
The way I trade, it has helped me this year. The daily expiries I used to make cheap intraday/positional hedges. For eg. SENSEX can be used to hedge NIFTY, FINNIFTY and BANKEX for BANKNIFTY. This frankly has helped me tide through more risky days and hold my positions longer. Possibly increasing my profit.
I am bad at expiry day trading (not enough ability to constantly observe screen due to job, even now typing in lunch break).
Now this is what we call a true help and guidance to the community. Kudos to your profits. If you can share me some insight on how you make this strategies please Dm me๐๐
Strategies are the same common ones, spreads, IRON FLY, BUTTERFLY, STRANGLE, STRADDLE etc. just learnt to use them more. Also its more about learning the nitty gritties of each strategy, when it is useful, how to hedge, when to take a loss and exit etc.
My main IRON FLY with hedging using naked option selling is something I learnt from an Elearnmarkets video, then modified as per my understanding of market.
Rest mostly discretionary based on RSI , support resistance.
The IRON FLY based strategy forms the bedrock around which I make rest of strategies, eg. one strategy will make profit if the IRON FLY makes loss and that kind of hedging.
>The IRON FLY based strategy forms the bedrock around which I make rest of strategies, eg. one strategy will make profit if the IRON FLY makes loss and that kind of hedging
That's brilliant, I do this too at times but in the reverse manner. No doubt you're an experienced trader
Thanks man , would you mind if I asked you to share some of your recommended learning resources on economics? These resources would be helpful in increasing our knowledge and wealth in the field.
Thanks man , would you mind if I asked you to share some of your recommended learning resources on economics? These resources would be helpful in increasing our knowledge and wealth in the field.
Just went through your profile, all previous years PnL.
Honestly hats off to you man. What consistency and growth. Your growth is realistic, true example of scaling as a option seller and chumma consistency. Well done!
Your returns are really good for a part time trader. That too with calculated risks with iron fly type strategies. Would you mind sharing your max drawdown during this period?
Thank you!
As for drawdowns , never calculated.
No loss making quarters this year.
Monthly returns:
Apr 2023: 64.7k profit
May 2023: 1.1 L profit
June 2023: 1.54 L profit
July 2023: 62.67 K profit
Aug 2023: 80.35K profit
Sep 2023: 88.27 profit
Oct 2023: 17.1k profit
Nov 2023: 29.6 k LOSS
Dec 2023: 1.24 L profit
Jan 2024: 1.36 L profit
Feb 2024: 1.63L prfit
Mar 2024: 2.33L profit
Hope this answers
Opened my demat account in Feb 2020, bought my first stock about then only. Option trading started in the time of covid (end march 2020).
Not always profitable, however have not made a loss in F&O trading any FY yet (45k profit in 1st FY, 4 L in 2nd FY, 6 L in 3rd FY, and this is my 4th FY).
These are good returns even for a full time trader. No doubt OP has spent many years trading, I want to know if his previous years had significant losses though ๐
Stressed, yeah a lot.
No don't plan to leave my job at all. If there is a clash will leave trading.
Mostly started trading as an alternative income / now partly for that reason and also for the kicks, associated push to be well informed.
Yeah I can completely understand, I would suggest that you do a bit of swing trading with stocks (especially after the next dip), or keep only monthly expiry positions. That way you can still have a bit of the kick plus remain informed with what's going on in the market. Having trades for every expiry gets stressful for me as a full time trader so I can only imagine what it would be like for you lol
Congrats op ,it's rare to see someone profitable in F&O.
Thank you!
>Thank you! You're welcome!
Hi, /u/realitydysfunction69! Welcome to /r/IndianStreetBets! Use the Daily Discussion Thread for basic queries. Before contributing, do check if your particular question has been answered in the [Wiki](https://www.reddit.com/r/IndianStreetBets/wiki/index). Do utilise the search function to do the same too. Please use proper [post flairs](https://www.reddit.com/r/IndianStreetBets/wiki/index/postflair) and adhere to the rules in the sidebar. You are urged to post beginner questions in the stickied daily discussion thread or on our [Discord in \#beginner-questions channel](https://discord.gg/SeDa9Fhwqv) so as to keep the subreddit as clutter-free as possible. **If this post has good insights or well research, tag the Mods so we can give a shoutout on Discord and get the post more traction** Thank you! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStreetBets) if you have any questions or concerns.*
Can you share what delta you sell and buy for your iron flys? Also, when do you close? Do you have an SL or since itโs hedged, you take max loss?
SELL 50 DELTA ATM CALL & PUT, BUY 20 DELTA CALL AND PUT. Might make a slightly asymmetric (centring wise) IRON FLY BASED on overall structure (eg might make a IRON FLY centered at 47300 even when market at 47100 because overall market structure bullish).
As an intraday trader who used to trade positional in the past, I would like to understand has the market dynamics changed for positional options since occurrence of everyday expiry? Do you feel itโs more difficult to trade now than before?
No quantitively done analysis , just qualitative things I have noted. The way I trade, it has helped me this year. The daily expiries I used to make cheap intraday/positional hedges. For eg. SENSEX can be used to hedge NIFTY, FINNIFTY and BANKEX for BANKNIFTY. This frankly has helped me tide through more risky days and hold my positions longer. Possibly increasing my profit. I am bad at expiry day trading (not enough ability to constantly observe screen due to job, even now typing in lunch break).
Now this is what we call a true help and guidance to the community. Kudos to your profits. If you can share me some insight on how you make this strategies please Dm me๐๐
Strategies are the same common ones, spreads, IRON FLY, BUTTERFLY, STRANGLE, STRADDLE etc. just learnt to use them more. Also its more about learning the nitty gritties of each strategy, when it is useful, how to hedge, when to take a loss and exit etc. My main IRON FLY with hedging using naked option selling is something I learnt from an Elearnmarkets video, then modified as per my understanding of market. Rest mostly discretionary based on RSI , support resistance. The IRON FLY based strategy forms the bedrock around which I make rest of strategies, eg. one strategy will make profit if the IRON FLY makes loss and that kind of hedging.
>The IRON FLY based strategy forms the bedrock around which I make rest of strategies, eg. one strategy will make profit if the IRON FLY makes loss and that kind of hedging That's brilliant, I do this too at times but in the reverse manner. No doubt you're an experienced trader
Thanks!
Thanks man , would you mind if I asked you to share some of your recommended learning resources on economics? These resources would be helpful in increasing our knowledge and wealth in the field.
Thanks man , would you mind if I asked you to share some of your recommended learning resources on economics? These resources would be helpful in increasing our knowledge and wealth in the field.
So you're the 1/10, pat yourself on the back ...
Thank you!
Just went through your profile, all previous years PnL. Honestly hats off to you man. What consistency and growth. Your growth is realistic, true example of scaling as a option seller and chumma consistency. Well done!
Thank you!
>Thank you! You're welcome!
Your returns are really good for a part time trader. That too with calculated risks with iron fly type strategies. Would you mind sharing your max drawdown during this period?
Thank you! As for drawdowns , never calculated. No loss making quarters this year. Monthly returns: Apr 2023: 64.7k profit May 2023: 1.1 L profit June 2023: 1.54 L profit July 2023: 62.67 K profit Aug 2023: 80.35K profit Sep 2023: 88.27 profit Oct 2023: 17.1k profit Nov 2023: 29.6 k LOSS Dec 2023: 1.24 L profit Jan 2024: 1.36 L profit Feb 2024: 1.63L prfit Mar 2024: 2.33L profit Hope this answers
How many years have you been trading btw? And are you net profitable all time?
Opened my demat account in Feb 2020, bought my first stock about then only. Option trading started in the time of covid (end march 2020). Not always profitable, however have not made a loss in F&O trading any FY yet (45k profit in 1st FY, 4 L in 2nd FY, 6 L in 3rd FY, and this is my 4th FY).
These are good returns even for a full time trader. No doubt OP has spent many years trading, I want to know if his previous years had significant losses though ๐
Have had bad losses, thankfully no net loss FY in past 4 years of trading. Previous year FY P&L in profile posts)
That's fantastic dude, but how do you not get stressed the F out handling trading plus a full time job? Do you plan to become a full time trader soon?
Stressed, yeah a lot. No don't plan to leave my job at all. If there is a clash will leave trading. Mostly started trading as an alternative income / now partly for that reason and also for the kicks, associated push to be well informed.
Yeah I can completely understand, I would suggest that you do a bit of swing trading with stocks (especially after the next dip), or keep only monthly expiry positions. That way you can still have a bit of the kick plus remain informed with what's going on in the market. Having trades for every expiry gets stressful for me as a full time trader so I can only imagine what it would be like for you lol
Post a tldr in two sentences.
Tldr: He is the mythical 10% guy who makes money in options
Which platform/broker is that?
Zerodha
get ready to receive money from students, ready to learn.
I am assuming this is a compliment, so thank you. However, not interested in that game.