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21/06/2022 - Post Market Discussion

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Opening MTM = 11k
Closing MTM = 20k


  • Since, yesterday US markets were closed. So, we didn't had any idea about where will the markets open, but in the morning SGX indicated a slight gap up. BankNifty had other ideas, and opened with a gap up of almost 1%. 

  • We had shorts at 33200CE and 32200CE overnight, 625qty each with hedges at around 500pts from short. BN opened at around 33000 and initially came the sell off, within 15mins it came to 32800, and we were in a commanding position with MTM shooting upto 24k at 9.30. 

  • However, within the next 30mins, BN shot up 300pts to 33100. CE OI also got significantly reduced, and PE OI at 33k was hugely added. So, we shifted the CE to 33300 and rolled up the PE to 32500. 

  • At 10.30. The market consolidated, but PE OI was adding up continuously. So, we shifted the puts further up to 32700. And also, added extra 10lots PE at 33000, as PE OI at 33k was adding up hugely.

  • Around 12, Zerodha and Upstox servers stopped working. We thought we were in for a big butchering day.

  • At 12.45, the problem got resolved, and BN shot up 100pts in one 5min candle. We further shifted all the puts to 33000. Now at around 1PM, we had 625qty shorts at 33300CE, and 875qty shorts at 33000PE.

  • After taking resistance at 33600, BN started to fall like anything. Soon it was around 33300, there was also a significant winding in PE OI, therefore we shifted 625qty puts from 33000 to 32800. At this point our MTM was breakeven, at 3.

  •  EOD, the last 30mins decay was fantastic, and we ended up the day with 20k MTM.

Current overnight positions - 625qty 33300CE short - 625qty 33700CE long
                                                 625qty 32800PE short 
                                                 250qty 33000PE short - 875qty 32400PE long


BANK NIFTY 5MIN CHART


BANK NIFTY JUN FUT 5MIN CHART





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