GAP Down as expected, Profits realized by closing positional took new strategy for the next weeks trade

• Market gap down as FOMC meeting tonight, 25bps expected, US market corrected to that.🔻
• Took a disastorous intraday trade in the morning. I was at ₹ -3,500/- Loss but then took additional position one strike up & recovered loss + made ₹ +2,000/- Profit. ☺️
• By noon markets were extremely volatile.
• At noon I was able to exit my position at minimal loss & took new positions.
• Skipped this week at breakeven.

Took a new Put Ratio + Call Condor Strategy.

• This is a strategy I wanted to try for long time.
• Last weeks Strangle backfired I am motivated to try this strategy.

Initial Setup

• First Installment
• Will add more after FOMC meeting.

Features

• Good profit if market goes up.
• Escape route if market goes down.
• Long range.
• Good RR.
• Less POP, but POP increases as market goes up.
• If market goes down then can escape near 17800 & then do strangle.
• Small loss if market goes nowhere.
• FOMC meeting & many stock results to come, markets should move either way.

Overall a very good day no complaints.

• Realized Profit ₹ 5945/-
• Positional MTM ₹902/-
• Skipped this expiry positional, may do intraday.
• Took new positions for 11th May.

Days History

Current Position