In a long straddle:
1. Call option for 10650 bought
2. Put option for 10600 bought
Targeting high volatility this week with earnings and post Diwali selling. Was expecting a downward move but wanted to go risk neutral on the whole week.
The option expires in two weeks time, I may consider selling some OTM options to hedge theta as well.
1. Call option for 10650 bought
2. Put option for 10600 bought
Targeting high volatility this week with earnings and post Diwali selling. Was expecting a downward move but wanted to go risk neutral on the whole week.
The option expires in two weeks time, I may consider selling some OTM options to hedge theta as well.
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Update : NIFTY is at 10523, roughly 10% profit on the straddle.
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Took profit. Will revaluate after market opens tomorrow.