On Jul 1st, I had sold nifty index 50 strikes which were so out of the money that they became indifferent to anything happening to Nifty. I was not able to book any profit before Monday. Even on Monday, I was scared due to low VIX and again ended up taking very far OTM positions. When I checked P&L on Wednesday, it was showing a profit of only Rs. 1100 or something. Thinking that no-risk-no-gain is the name of the game, I took really really stupid positions, especially 15650 PE. Though I ended in green, this is definitely not how I should trade.
So I sold OTM strangles from Jul 2 to Jul 8 whose daily candles were like this:
Here are the results:
|Net Profit (after deducting brokerage)||Capital deployed (approx)||Week’s ROI||Annualized ROI for this week||Total no. of weeks traded till today||Average CAGR till today|
|Rs. 3,830.73||Rs. 6,39,366||0.599%||36.43%||4||47.82%|
Where annualized ROI for week = ((1+week’s return in decimal)^52)-1)*100
The following is breakdown of week’s positions