Hello Traders, As the 20 Aug 2020 expiry is tomorrow , we all option seller are curious to know about the range of the banknifty expiry.
This week strategy
As per the trading strategy I have the holding of the sbi banknifty etf and I will keep holding it , other than that I try to sell the covered call. I already squared off my call which I sold for 64rs at the 16rs price and the total profit was 48rs per share and a total of 1200rs (as per 25 shares per lot).
Portfolio performance
This week was quite good for me, I had the Sbi banknifty ETF in my portfolio and its value increased as the price of the banknifty increased to 22300. I have already squared of the call I sold for the price of 24000 with a profit of 1200rs and I have a monthly call for 26000 at the price of 84 , which is currently at the price of around 48 rs.
Weekly profit
Profit were basically from the increase in the value of the etf that I am holding and from the call option I sold. Total booked profit is around 1200rs and un-booked profit is around 15000 rs which I am not going to book as of now or may be book a little on the monthly expiry of the august.
Expected expiry range
The banknifty seems to be in the uptrend and I see it in the range of 22000-22800 this week, this is just my personal opinion.
Upcoming strategy
In the coming week I will be studying the banknifty performance as per the various technical indicators like MACD, RSI etc and will take a trade probably on selling the call option for the next expiry looking into its performance on this expiry. I prefer the covered call as I feel covered call is the best strategy if you are looking for little safety and want to appreciate your portfolio with time , I prefer to do trade mostly on the index as they are little less volatile as compared to the direct stock options.
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