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Intraday and Positional Trading Strategies.

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Theoptionguy

I started trading few years back. This year has been amazing for me.
Till now i have raked in 3.6L in profits on a 10L seed capital (4% per Month)
Sharing a screenshot for reference.
P-L
I am a pure option seller. Strategies i follow are iron condor, butterfly and short strangle. Waiting for other smart dimers to share their experience and strategies if they have smile

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Deal Newbie Deal Newbie
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16 dec-
Sold 29900 pe – 2000qty @ 12
Sold 31500 ce- 2000 [email protected] 12
Around 48,000 is the profit I can get tomorrow.
Let’s wait smile
Margin used (90L) bought some otm options to reduce margin

Deal Subedar Deal Subedar
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Do you know how to file income tax returns for this?

Its looks like your turnover will very high and will need business
Options and futures considered business right?

Deal Newbie Deal Newbie
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If it all Turns down to 0 then my options turnover is only 48k

Blogger Blogger
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Theoptionguy wrote:

If it all Turns down to 0 then my options turnover is only 48k

No. Turnover is Option sell value + Profit (Or loss amount. Ignore Minus sign for loss)

So in ur case Turnover will be 96k.

This is what I assume as per my reading. Some CA or Experienced Option writer can better answer it.

Deal Newbie Deal Newbie
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drjpatwa wrote:

No. Turnover is Option sell value + Profit (Or loss amount. Ignore Minus sign for loss)

So in ur case Turnover will be 96k.

This is what I assume as per my reading. Some CA or Experienced Option writer can better answer it.

Might be. But we have to get our accounts audited when turnover goes above 1.5cr
I usually sell otm options with value of 15-16 .
I am doing it in my personal account. Once I’m near the limit of turnover I’ll shift the funds to another account.

Blogger Blogger
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Theoptionguy wrote:

Might be. But we have to get our accounts audited when turnover goes above 1.5cr
I usually sell otm options with value of 15-16 .
I am doing it in my personal account. Once I’m near the limit of turnover I’ll shift the funds to another account.

I guess > 1 cr. Turnover or Profit <6% of turnover attracts Audit…

Deal Newbie Deal Newbie
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drjpatwa wrote:

I guess > 1 cr. Turnover or Profit <6% of turnover attracts Audit…

>1crore does attracts if you don’t follow/fall under Section 44AD(WHICH IS 2CRORES FOR THEM)
If you follow (44Ad)and then you declare profit less than 8% then audit is required.

Deal Newbie Deal Newbie
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amdoinggood123 wrote:

Suggest some less margin strategies / trades

You can sell 500 away strangle and buy 800 away options to hedge positions. This way you can easily sell a good quantity with less margin.

As I mentioned clearly I am into option selling. And unfortunately it does require high margin.

Deal Newbie Deal Newbie
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https://cdn0.desidime.com/attachments/photos/655162/medium/72270491-1.png?1608199637 https://cdn0.desidime.com/attachments/photos/655163/medium/72270491-2.png?1608199640

Made 26.5k in one account and around 35k in zerodha. Had i kept my last night positions as it is i’d have been in a much bigger profit :/
Intraday spike near noon hit my SL’s.
Taken naked 29000 Pe and 32500 ce- 500 each for tomorrow. Also have started Chicken iron condor strategy in January end strike for earning passive income.

Hunk Hunk
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drjpatwa wrote:

No. Turnover is Option sell value + Profit (Or loss amount. Ignore Minus sign for loss)

So in ur case Turnover will be 96k.

This is what I assume as per my reading. Some CA or Experienced Option writer can better answer it.

Had to audit smile CA took 5k

Deal Newbie Deal Newbie
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Theoptionguy wrote:

https://cdn0.desidime.com/attachments/photos/655162/medium/72270491-1.png?1608199637 https://cdn0.desidime.com/attachments/photos/655163/medium/72270491-2.png?1608199640

Made 26.5k in one account and around 35k in zerodha. Had i kept my last night positions as it is i’d have been in a much bigger profit :/
Intraday spike near noon hit my SL’s.
Taken naked 29000 Pe and 32500 ce- 500 each for tomorrow. Also have started Chicken iron condor strategy in January end strike for earning passive income.

Exited 29500 pe @ 25
And 32500 [email protected] 14
Net loss= 5*500*2= 5000(approx)
Bad day today… Stopping in mid. Need to prepare for my goa trip smile

Deal Newbie Deal Newbie
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Added 13300 ce and pe in chiken iron condor for next month ending.

Deal Lieutenant Deal Lieutenant
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Theoptionguy wrote:

Added 13300 ce and pe in chiken iron condor for next month ending.

How much capital required??

Deal Cadet Deal Cadet
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Theoptionguy wrote:

Added 13300 ce and pe in chiken iron condor for next month ending.

What is chicken iron condor? Is it buy ce and pe of same strike?

Deal Cadet Deal Cadet
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Pls suggest me some website or youtube channel or anything from where I can learn some strategies.

Deal Newbie Deal Newbie
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DealsLooker wrote:

What is chicken iron condor? Is it buy ce and pe of same strike?

It’s selling a straddle along with the strike price rollover.
For e.g- if nifty is at 13000 we sell 13000 straddle and buy a hedge in current weekly.
When nifty moves to 13200 we again sell a 13200 straddle keeping the last position open. Again we need to buy option buy hedge in weekly.

Keep doing this till your risk management is In place.
I personally squareoff everything when my 3% sl is hit .

Deal Newbie Deal Newbie
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harshitag12 wrote:

Pls suggest me some website or youtube channel or anything from where I can learn some strategies.

If you are a newbie, I’d suggest to stay away from options for a while. Once you can control your emotions and have a good accuracy in equities/futures then only enter option trading.
Although it would be wrong to say but option trading is indeed like a casino, where you can either be ‘the Casino’ or a customer. smile

Deal Cadet Deal Cadet
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Theoptionguy wrote:

If you are a newbie, I’d suggest to stay away from options for a while. Once you can control your emotions and have a good accuracy in equities/futures then only enter option trading.
Although it would be wrong to say but option trading is indeed like a casino, where you can either be ‘the Casino’ or a customer. smile

Yes newbie only , started 7 months ago. Doing equity CNC only , earned decent profit in last 7 months. Tried F&O 2-3 times , overall loss only (got profit only in 3-4 trades).

Deal Newbie Deal Newbie
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Bought jswsteel @ 375 with an sl of 365.
Price structure looks bullish. Steel as a theme is prevalent right now

Deal Newbie Deal Newbie
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Theoptionguy wrote:

Bought jswsteel @ 375 with an sl of 365.
Price structure looks bullish. Steel as a theme is prevalent right now

Jsw at 382 smile
Moved my sl to 375

Hunk Hunk
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harshitag12 wrote:

Yes newbie only , started 7 months ago. Doing equity CNC only , earned decent profit in last 7 months. Tried F&O 2-3 times , overall loss only (got profit only in 3-4 trades).

For 1-2 year focus on CNC. come to derivatives after a while as it becomes too risky because of sheer number of quantity present in individual lots. It’s capital incentive. And a better broker is necessary. zerodha is not an ideal platform for it. @garamjalebi

Deal Cadet Deal Cadet
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bikidas2060 wrote:

For 1-2 year focus on CNC. come to derivatives after a while as it becomes too risky because of sheer number of quantity present in individual lots. It’s capital incentive. And a better broker is necessary. zerodha is not an ideal platform for it. @garamjalebi

Yes and focus on learning rather than profits … A learned mind is much better than a pocket full of profits

Deal Cadet Deal Cadet
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bikidas2060 wrote:

For 1-2 year focus on CNC. come to derivatives after a while as it becomes too risky because of sheer number of quantity present in individual lots. It’s capital incentive. And a better broker is necessary. zerodha is not an ideal platform for it. @garamjalebi

using big capital doesn’t ensure profits…only thing that makes money is ur ability and positive temperament ..

Deal Cadet Deal Cadet
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bikidas2060 wrote:

For 1-2 year focus on CNC. come to derivatives after a while as it becomes too risky because of sheer number of quantity present in individual lots. It’s capital incentive. And a better broker is necessary. zerodha is not an ideal platform for it. @garamjalebi

Hmm , which broker you suggest if not zerodha? I am using zerodha only for CNC currently.

Deal Newbie Deal Newbie
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harshitag12 wrote:

Hmm , which broker you suggest if not zerodha? I am using zerodha only for CNC currently.

I trade with 3 brokers.
1. Zerodha
2. Sharekhan
3. My own sub-brokership from kotak

Hunk Hunk
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harshitag12 wrote:

Hmm , which broker you suggest if not zerodha? I am using zerodha only for CNC currently.

It depends actually. Good criteria will be, the ones which don’t crash on big event days, provides a bit of margin and bracket order

Deal Cadet Deal Cadet
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bikidas2060 wrote:

It depends actually. Good criteria will be, the ones which don’t crash on big event days, provides a bit of margin and bracket order

Zerodha doesn’t crash as far as I know (in last 7 months I never faced a single problem) and provides BO too , about margin I can’t say.

Deal Cadet Deal Cadet
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i am new to it and don’t even know basics ,but still in profits of 2k , but want to learn the basics ,please someone suggest me good youtube videos or paid plans if any.

Missing