jun22 w1

Jun22-W1: Manic Monday was mismanaged

For the first week of June, I had predicted that Nifty would go until 16450. However, the target was hit on Monday itself. I was carrying with me a bad position in form of 16850 CE. This obviously went deep red on Monday opening.

I deployed my usual strategy of selling ITM options for averaging. I thought I was averaging slowly and steadily. I was not using my home-made calculator though. Later, I found that I had sold too many ITM options too soon. Now my overall P&L was in loss of more than Rs. 1 lakh. I could not do anything as I had exhausted my funds.

There was no choice but to carry forward the problem to Tuesday. Luckily, Tuesday was a gap-down opening and I exited all positions at minimal loss. The rest of the week was consolidation which helped me in earning 1% for the week.

But I am still useless without my excel calculators. I must use them daily.

Net Profit (after deducting brokerage): 18013.94

Capital deployed (approx): 17,50,000

Week’s ROI: 1.03%

Total no. of weeks traded till today: 8

Average  weekly return till today: 2.01%

DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.

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