أفضل استراتيجية التحوط لعقود مستقبلية أنيقة مع الخيارات

استراتيجيات التحوط العملية وبأسعار معقولة.

التحوط هو ممارسة شراء وعقد الأوراق المالية للحد من مخاطر المحفظة. وتهدف هذه الأوراق المالية إلى التحرك في اتجاه مختلف عن بقية المحفظة. وهم يميلون إلى التقدير عندما تنخفض الاستثمارات الأخرى. وهناك خيار وضع على الأسهم أو مؤشر هو أداة التحوط الكلاسيكية.

عند القيام بذلك بشكل صحيح، فإن التحوط يقلل بشكل كبير من عدم اليقين ومقدار رأس المال المعرض للخطر في الاستثمار، دون الحد بشكل كبير من معدل العائد المحتمل.

كيف يتم ذلك.

التحوط قد يبدو وكأنه نهج حذر للاستثمار، متجهة إلى توفير عوائد السوق الفرعية. ولكن هذه الاستراتيجية غالبا ما تستخدم من قبل المستثمرين الأكثر عدوانية. من خلال الحد من المخاطر في جزء من محفظة، يمكن للمستثمر في كثير من الأحيان على تحمل المزيد من المخاطر في مكان آخر، وزيادة له أو لها مطلقة العوائد في حين وضع رأس المال أقل عرضة للخطر في كل استثمار على حدة.

ويستخدم التحوط أيضا للمساعدة على ضمان قدرة المستثمرين على الوفاء بالتزامات السداد المستقبلية. على سبيل المثال، إذا تم إجراء استثمار بأموال مقترضة، يجب أن يتم التحوط للتأكد من إمكانية سداد الدين. أو إذا كان لصندوق التقاعد التزامات مستقبلية، فإنه مسؤول فقط عن تغطية المحفظة مقابل الخسائر الكارثية. (انظر أيضا: دليل المبتدئين للتحوط.)

المخاطر السلبية.

إن تسعير أدوات التحوط يرتبط بمخاطر االنخفاض المحتملة في األوراق المالية. وكقاعدة عامة، كلما زاد خطر الهبوط الذي يسعى مشتري التحوط إلى نقله إلى البائع، كلما زادت تكلفة التحوط.

إن المخاطر السلبية، وبالتالي تسعير الخيارات، هي في المقام الأول وظيفة من الوقت والتقلب. والسبب المنطقي هو أنه إذا كان الأمن قادرا على تحركات سعرية كبيرة على أساس يومي، فإن خيار ذلك الأمن الذي ينتهي أسابيع أو شهور أو سنوات في المستقبل سيكون محفوفا بالمخاطر بدرجة كبيرة، وبالتالي فهو مكلف.

من ناحية أخرى، إذا كان الأمن مستقرا نسبيا على أساس يومي، هناك خطر الهبوط أقل، والخيار سيكون أقل تكلفة. ولهذا السبب تستخدم األوراق المالية المترابطة أحيانا للتحوط. إذا كان أحد أسهم رأس المال الصغير متقلبا جدا للتحوط بشكل معقول، يمكن للمستثمر التحوط مع مؤشر راسل 2000، وهو مؤشر رأس مال صغير، بدلا من ذلك.

يمثل سعر إضراب خيار الشراء مقدار المخاطر التي يتحملها البائع. الخيارات مع ارتفاع أسعار الإضراب هي أكثر تكلفة، ولكن أيضا توفير المزيد من حماية الأسعار. وبطبيعة الحال، في مرحلة ما، وشراء حماية إضافية لم تعد فعالة من حيث التكلفة.

من الناحية النظرية، فإن التحوط بأسعار ممتازة، مثل خيار وضع، سيكون صفقة صفقة. إن سعر شراء خيار الشراء سيكون مساويا تماما لمخاطر الهبوط المتوقعة للأمن الأساسي. ومع ذلك، إذا كان الأمر كذلك، لن يكون هناك سبب يذكر لعدم التحوط من أي استثمار.

نظرية التسعير والتطبيق.

وبطبيعة الحال، فإن السوق هو في أي مكان بالقرب من كفاءة ودقيقة أو سخية. في معظم الوقت وبالنسبة لمعظم الأوراق المالية، ووضع الخيارات هي انخفاض قيمة الأوراق المالية مع متوسط ​​الدفعات السلبية. هناك ثلاثة عوامل في العمل هنا:

تقلب قسط - كقاعدة عامة، التقلبات الضمنية عادة ما تكون أعلى من التقلبات المحققة لمعظم الأوراق المالية، في معظم الأحيان. لماذا يحدث هذا لا يزال مفتوحا للنقاش، ولكن النتيجة هي أن المستثمرين دفع أكثر من اللازم لحماية الهبوط. مؤشر الانجراف - مؤشرات الأسهم وأسعار الأسهم المرتبطة لديها ميل للتحرك صعودا مع مرور الوقت. هذه الزيادة التدريجية في قيمة الأمن الكامنة تؤدي إلى انخفاض في قيمة وضع ذات الصلة. تضاؤل ​​الوقت - مثل جميع المواقف خيار طويل، كل يوم أن خيار يقترب من انتهاء الصلاحية، فإنه يفقد بعض قيمته. ويزيد معدل الانحلال كلما انخفض الوقت المتبقي على الخيار.

ونظرا لأن العائد المتوقع لخيار ما هو أقل من التكلفة، فإن التحدي الذي يواجه المستثمرين هو شراء أكبر قدر ممكن من الحماية. ويعني ذلك عموما أن الشراء يضع أسعارا أقل من الإضراب ويفترض أن المخاطر الأمنية الهبوطية الأولية.

انتشار التحوط.

غالبا ما يكون المستثمرون في المؤشرات أكثر اهتماما بالتحوط ضد انخفاض الأسعار المعتدل من الانخفاضات الحادة، حيث أن هذا النوع من انخفاض الأسعار لا يمكن التنبؤ به على حد سواء، وهو أمر شائع نسبيا. بالنسبة لهؤلاء المستثمرين، والدب وضعت انتشار يمكن أن يكون حلا فعالا من حيث التكلفة. (انظر أيضا: خيارات انتشار الاستراتيجيات.)

وفي حالة انتشار الدببة، يشتري المستثمر سعر شراء أعلى ثم يبيع سعرا واحدا بسعر أقل بنفس تاريخ انتهاء الصلاحية. لاحظ أن هذا لا يوفر سوى حماية محدودة، حيث أن الحد الأقصى لدفع الأرباح هو الفرق بين سعري المخالفة. ومع ذلك، غالبا ما تكون هذه الحماية كافية للتعامل مع الانكماش معتدل إلى معتدل.

طريقة أخرى للحصول على أكبر قيمة من التحوط هو شراء أطول خيار متاح المتاحة. خيار وضع ستة أشهر هو عموما لا ضعف سعر خيار لمدة ثلاثة أشهر - وفرق السعر هو فقط حوالي 50٪. عند شراء أي خيار، فإن التكلفة الحدية لكل شهر إضافي أقل من آخر.

تمديد الوقت ووضع المتداول.

الخيارات المتاحة على إوم، تداول عند 78.20. إوم هو إتسيل تعقب إتسيل 2000.

في المثال أعلاه، الخيار الأكثر تكلفة للمستثمر طويل الأجل أيضا يوفر له أو لها مع حماية أقل تكلفة في اليوم الواحد.

وهذا يعني أيضا أن خيارات يمكن تمديدها جدا تكلفة فعالة. إذا كان للمستثمر خيار وضعه لمدة ستة أشهر على ضمان مع سعر إضراب معين، فيمكن بيعه والاستعاضة عنه بخيار مدته 12 شهرا في نفس الإضراب. ويمكن القيام بذلك مرارا وتكرارا. وتسمى هذه الممارسة المتداول وضع الخيار إلى الأمام.

من خلال المتداول وضع الخيار إلى الأمام والحفاظ على سعر الإضراب على مقربة من، ولكن لا يزال إلى حد ما أدناه، وسعر السوق، يمكن للمستثمر الحفاظ على التحوط لسنوات عديدة. وهذا مفيد جدا بالاقتران مع الاستثمارات المحفزة بالمخاطر مثل العقود الآجلة للمؤشرات أو مراكز الأسهم الاصطناعية.

التقويم ينتشر.

انخفاض تكلفة إضافة أشهر إضافية إلى خيار وضع أيضا يخلق فرصة لاستخدام التقويم ينتشر لوضع التحوط رخيصة في مكان في تاريخ لاحق. يتم إنشاء فروق التقويم عن طريق شراء خيار طويل الأجل وضع وبيع خيار وضع على المدى القصير بنفس سعر الإضراب.

شراء 100 سهم من إنتك على الهامش @ $ 24.50 بيع عقد خيار واحد وضع (100 سهم) @ 25 تنتهي في 180 يوما ل $ 1.90 شراء واحد خيار الخيار وضع (100 سهم) @ 25 تنتهي في 540 يوما ل 3.20 $.

في هذا المثال، يأمل المستثمر أن سعر سهم إنتل سوف نقدر، وأن خيار وضع قصير سوف تنتهي بلا قيمة في 180 يوما، وترك الخيار وضع طويلة في مكان كتحوط لمدة 360 يوما القادمة.

الخطر هو أن الخطر السلبي للمستثمر لم يتغير في الوقت الراهن، وإذا انخفض سعر السهم بشكل ملحوظ في الأشهر القليلة المقبلة، قد يواجه المستثمر بعض القرارات الصعبة. هل ينبغي أن يمارسوا وقتا طويلا ويفقدون قيمته الزمنية المتبقية؟ أو هل يجب على المستثمر أن يعاود وضع المخاطرة القصيرة والمخاطرة بربط المزيد من المال في وضع خاسر؟

في الظروف المواتية، يمكن أن يؤدي الجدول الزمني انتشارها إلى التحوط رخيصة على المدى الطويل التي يمكن بعد ذلك يتم التراجع إلى أجل غير مسمى. ومع ذلك، يحتاج المستثمرون إلى التفكير من خلال السيناريوهات بعناية فائقة لضمان أنهم لا يعرضون عن غير قصد مخاطر جديدة في محافظهم الاستثمارية.

الخط السفلي.

ويمكن النظر إلى التحوط على أنه نقل مخاطر غير مقبولة من مدير محفظة إلى شركة تأمين. وهذا يجعل العملية نهجا من خطوتين. أولا، تحديد مستوى الخطر المقبول. ثم، تحديد المعاملات التي يمكن أن تكلفة نقل هذه المخاطر على نحو فعال.

وكقاعدة عامة، توفر خيارات الشراء على المدى الطويل مع سعر إضراب أقل أفضل قيمة تحوطية. فهي باهظة الثمن في البداية، ولكن تكلفتها في كل يوم سوق يمكن أن تكون منخفضة جدا، مما يجعلها مفيدة للاستثمارات طويلة الأجل. هذه الخيارات طويلة الأجل وضعت يمكن أن تنتقل إلى الأمام في وقت لاحق انتزاع وأسعار الإضراب أعلى، وضمان أن التحوط المناسب هو دائما في مكانها.

بعض الاستثمارات أسهل بكثير للتحوط من غيرها. وعادة ما تكون الاستثمارات مثل المؤشرات العامة أرخص بكثير من التحوط من الأسهم الفردية. انخفاض التقلبات يجعل خيارات وضع أقل تكلفة، وسيولة عالية يجعل المعاملات انتشار ممكن.

ولكن في حين أن التحوط يمكن أن يساعد في القضاء على خطر انخفاض الأسعار المفاجئ، فإنه لا يفعل شيئا لمنع الأداء الضعيف على المدى الطويل. وينبغي اعتباره مكملا، بدلا من أن يكون بديلا، لتقنيات إدارة المحافظ الأخرى مثل التنويع وإعادة التوازن والتحليل الأمني ​​الانتقائي والاختيار.

أي واحد هو أفضل ستوبلوس أو التحوط الموقف.

سأصوت دائما للتحوط من وقف الخسارة أثناء التداول. هذا هو السبب في بلدي بالطبع سوف تجد أن جميع الاستراتيجيات يتم التحوط بشكل صحيح، بحيث الخسائر إن وجدت صغيرة ولا تذكر، ولكن الأرباح جيدة ومتسقة.

وبما أنني دائما تقريبا التجارة خيارات أنيق، وسوف تقيد مناقشتي إلى خيارات ومحاولة لسبب التحوط يناسبني أفضل من وقف الخسارة.

إليك بعض الأسباب التي تجعلني أشعر دائما بالتحوط:

1. لا داعي للقلق بشأن المواقف الخاصة بك. إذا كان العرض خاطئا & # 8211؛ التجارة المحوطة هو كسب المال. فعال أن يعمل بمثابة وقف الخسارة.

2. عليك أن تقرر متى للخروج من التجارة & # 8211؛ وليس وقف الخسارة. في الواقع يمكنك حجز الأرباح في موقف واحد وترك موقف آخر مفتوح أو الشروع في استراتيجية التحوط / وقف الخسارة آخر.

3. لا حاجة للطفل-- الجلوس في السوق. يمكنك أن تأخذ وقت الخروج وتشعر على نحو أفضل. قضاء بعض الوقت مع عائلتك في حين لا يزال كسب المال. يمكنك ترك الصفقات والذهاب مع عملك. نعود بعد بعض الوقت لنرى أين تقف واتخاذ قرار. في وقف الخسارة، لسوء الحظ على الرغم من أنك يمكن أن تترك النظام & # 8211؛ وقف الخسارة هو مثل الشيطان الذي تريد أن تبقي مشاهدته على أمل أنه لا يحصل ضرب. في نهاية المطاف يفعل ذلك.

4. مشاهدة موقف واحد مما يجعل المال 100٪ من الوقت يعطي المزيد من الفرح. مقارنة هذا إلى شعور الموقف الذي قد ضرب للتو وقف الخسارة. 100٪ لوس & # 8211؛ أي أرباح.

5. إذا تغير هذا الاتجاه بعد أن يتم ضرب وقف الخسارة & # 8211؛ لا يوجد شيء على هذه الأرض يمكنك القيام به حيال ذلك & # 8211؛ باستثناء كتابة البريد إلى نس وتسول لهم لعكس التجارة التي لن تفعل تحت أي ظرف من الظروف حتى لو كان خطأهم. على سبيل المثال تجارة غريب. كنت مجرد جعلت خسارة ونظام أغلقت الموقف. مع موقف التحوط يمكنك ترك الصفقات مفتوحة للساعة القادمة أو اليوم أو حتى بضعة أيام. في أغلب الأحيان & # 8211؛ يتغير الاتجاه ويمكنك إغلاق الصفقة في الربح.

6. يمكنك النوم بشكل أفضل في الليل كما المواقف ليلة وضحاها يمكن أن تفعل أي ضرر & # 8211؛ تذكر مواقف واحدة يبقيك دائما محمية. في وقف الخسارة إذا كان هناك فجوة ضخمة فتح ضد المراكز المفتوحة & # 8211؛ سوف تأخذ وقف الخسارة في موقف السوق ونرى الكثير من أموالك محوها. وسوف يكون مجموعة كبيرة مرة أخرى. بعض منهم يمكن أن يأخذك من التداول الأعمال إلى الأبد. التحوط سوف تبقى لكم في اللعبة.

7. في بعض الأحيان وقف الخسارة لا يحصل على تنفيذ إذا كان يقفز الأسهم / أنيق. ثم يتم تركك تحت رحمة السوق. اتخاذ وقف السوق وقف سوف يقتلك. سوف تشعر بائسة لعدة أشهر، وسوف لا تجمع قوة للتجارة لفترة طويلة. هذا هو الحال مع وضعية التحوط. سوف تضحك مع الفرح رؤية التحوط الخاص بك جعل الكثير من المال في الثانية النزوة على الرغم من أن الموقف الآخر سوف يكون خسائر فادحة. لكنها سوف تعطيك الوقت للتنفس. لقد فزت & # 8217؛ ر نزوة واضغط على زر الذعر.

8. معرفة مقدما الخسائر التي يمكن أن تجعل تساعدك على عدم تهتم كثيرا عن الصفقات الخاصة بك حتى تتمكن من اتخاذ قرارات جريئة والمواقف الكبيرة. مع وقف الخسارة لا يمكنك أبدا توسيع نطاق الصفقات الخاصة بك. هذه هي تجربتي الشخصية أن الناس الذين وضعوا وقف الخسارة أبدا تتجاوز تجارة أكثر من 1 لاك. كم سوف تنمو أموالك إذا كنت لا يمكن أن المركب؟ يمكنك التجارة 50 الكثير من خيارات الاتصال أنيق في جمهورية صربسكا. 100.00 حتى مع وقف الخسارة؟ لديك لوضع روبية. اثنين يفتقر وخمسون ألف على الخط. إذا كنت شعرت بطريقة أو بأخرى مريضة ونسي عن التجارة وخياراتك تنتهي لا قيمة لها & # 8211؛ كل ما تبذلونه من المال هو ذهب. ولكن ماذا يحدث عند بيع خيار الاتصال مع روبية. 75.00 وشراء خيار الاتصال من قيمة روبية. 100.00؟ الحد الأقصى للخسارة هو 25 نقطة. الآن يمكنك التجارة 50 أو حتى 100 الكثير؟ نعم يمكنك.

9. التحوط يسمح لك أن تفعل بعض الأعمال الأخرى عندما تكون الأسواق مفتوحة. على سبيل المثال يمكنك القيام بدوام جزئي أو وظيفة عادية ولا تزال كسب المال. لأنه ليس هناك حاجة للطفل-الجلوس الصفقات الخاصة بك. لا حاجة للجلوس ست ساعات ونصف أمام الشاشة. يجب أن تتفق معي هنا & # 8211؛ فإن معظم المتداولين يواصلون مراقبة التجارة إذا كان هناك وقف الخسارة في النظام. لا يمكنك القيام بأي وظيفة أخرى. سوف يكون عقلك دائما مع وقف الخسارة. فترة.

10. يضمن التحوط حماية رأس المال حتى إذا كان السهم يفتح فجوة صعودا أو هبوطا في اليوم التالي. تخيل حالة حيث قام المتداول بتخفيض الأسهم مع وقف الخسارة من 10 نقطة. 1 نقطة تساوي روبية. 1000 / -. هو 3.25 مساء ووقف الخسارة هو جوتس 1 نقطة بعيدا عن ضرب. ثم يغلق السوق للتداول. في اليوم التالي التاجر صدمت أن نرى أن الأسهم قد فتحت فجوة بنسبة 7٪. تخيل خسائره. 30-35k خسر في تجارة واحدة. لو كان التحوط كان خسارته قد انخفضت بنسبة 85٪. هناك مستقبل التحوط مع خيارات استراتيجية في بلدي بالطبع. وهذا يساعد مستقبل التجارة التاجر المستقبل بلا خوف لأنه يعرف أن توج توج ثم الأرباح يمكن أن تكون غير محدودة.

بعض الناس يسألني كيفية التحوط عندما يتم تداول الأسهم في الوقت الحاضر نقدا. يمكنك ولكن تحتاج إلى شراء / بيع الأسهم التي لديها خيارات المتاحة. على سبيل المثال يمكنك شراء الأسهم في سوق النقد / الآجلة إذا كنت تعتقد أنها سوف ترتفع وشراء في وقت واحد خيار أتم وضع. حتى إذا كان وجهة نظرك خاطئا وضع سيجعل المال. في الواقع إذا كنت قد اشتريت العقود الآجلة، وأعتقد أن الأسهم في نهاية المطاف سوف ترتفع & # 8211؛ يمكنك ترك هذا الموقف مفتوحة بين عشية وضحاها ونرى في الأيام القليلة المقبلة. إذا ارتفع السهم & # 8211؛ يمكنك إغلاق الموقف في الربح. لو كان هناك وقف الخسارة كنت لن تكون قادرة على إغلاقه في الربح كما كنت قد أغلقت بالفعل الموقف في حيرة.

وينبغي أن يتم التحوط في وقت واحد. لنفترض أنك قد اشتريت مكالمة يجب عليك بيع مكالمة في نفس الوقت للتحوط للعمل بشكل فعال.

لقد رأيت العديد من التجار الحصول على الجشع ولا تشتري التحوط في نفس الوقت. انهم يعتقدون عندما يحين الوقت سوف يشترون التحوط. هذا الوقت لا يأتي أبدا وأنها تغلق الموقف في حيرة.

التحوط يحصل مكلفة على مر الزمن إذا لم يتم شراؤها في وقت واحد. على سبيل المثال إذا كنت قد اشتريت مكالمة ولم تبع مكالمة أوتم في نفس الوقت. إذا كان العرض خاطئا & # 8211؛ فإن المكالمات أوتم الحصول على أقل في القيمة والمال جيبك سوف تكون أقل عند إغلاق الجرعة. لذلك سوف يكون فقدان الخاص بك أكبر.

لنفترض أنك قد اشتريت مستقبل أنيق ولم تشتري أجهزة الصراف الآلي وضعت في نفس الوقت، وسقوط أنيق. وقد فقد المستقبل بالفعل بعض المال الذي قد لا يكون خيار وضع قادرة على الانتعاش أبدا. مرة أخرى سوف تكون الخسائر الخاصة بك أكبر.

لنفترض أنك باعت خيار مكالمة عارية ولم تحوط والموقف هو الذهاب ضدك. سوف تصبح المكالمات التي تريد شراءها للتحوط أكثر تكلفة (نيفتي آخذ في الارتفاع) وأرباحك على المكالمات ستكون أصغر & # 8211؛ مرة أخرى الخسائر الخاصة بك سوف تكون أكبر مما كان لو كان قد اشتريت مكالمة أوتم بمجرد أن تقوم ببيع المكالمة.

ملاحظة: في بعض الصفقات ولكن وقف الخسارة المنطقي. على سبيل المثال إذا كنت تاجر صغير وكنت تتاجر فقط مع رس. 10000 نقدا خلال اليوم. ثم لديك أي خيار آخر ولكن لوضع وقف الخسارة في النظام. ليس لديك ما يكفي من النقد لتغطية موقفك.

أهم ملاحظة: أنا أحب التحوط أفضل من وقف الخسارة. ولكن هذا ليس لي. كل شخص لديه علم النفس الخاصة بهم أثناء التداول. بعض ترغب في العمل مع وقف الخسارة وبعض مع التحوط. مهما كانت مريحة مع. هذا هو خياري وليس من الضروري أن عليك أن تتبع ذلك أيضا. مجرد محاولة على حد سواء لبعض الوقت لتحديد أي واحد يعمل بشكل أفضل لصفقات الخاص بك ومتابعته.

ولكن كل ما تفعله & # 8211؛ رجاء رجاء رجاء & # 8211؛ إما وضع وقف الخسارة أو التحوط وضعك أو القيام على حد سواء. ولكن أبدا لعب الصفقات الخاصة بك عارية. أسواق الأوراق المالية هي استثمارات محفوفة بالمخاطر، وينبغي ألا يتم تداولها دون تأمين سليم. يمكن أن يكون التأمين الخاص بك إما وقف الخسارة أو موقف التحوط.

فماذا تفضل & # 8211؛ وقف الخسارة أو التحوط؟ يرجى ترك في التعليقات أدناه.

يمكنك قراءة المزيد على موقعي.

الاتصال بي أو الاتصال بي على 9051143004 لمزيد من المعلومات.

ثيوبتيونكورس حقوق الطبع والنشر @ جميع الحقوق محفوظة من قبل ديليب شو، مؤسس هذا الموقع.

انتهاك حقوق الطبع والنشر: يحظر بشدة أي عمل يتعلق بنسخ أو إعادة إنتاج أو توزيع أي محتوى في الموقع أو الرسائل الإخبارية، سواء كليا أو جزئيا، لأي غرض من الأغراض دون إذن مني، ويعتبر انتهاكا لحقوق الطبع والنشر.

الدخل شروط: أي إشارات في هذا الموقع من الدخل التي أدلى بها التجار تعطى لي من قبلهم إما من خلال البريد الإلكتروني أو ال واتساب كرسالة شكر. ومع ذلك تعتمد كل تجارة على التاجر ومستوى المخاطر لديه القدرة والمعرفة والخبرة. عالوة على ذلك، تتعرض استثمارات سوق األسهم والتداول لمخاطر السوق. لذلك لا يوجد ضمان بأن الجميع سوف يحقق نفس النتائج أو ما شابه ذلك. هدفي هو جعل لكم تاجر أفضل ومنضبطة مع تداول الأسهم والاستثمار التعليم والاستراتيجيات التي تحصل عليها من هذا الموقع. يرجى ملاحظة أنني لا تعطي نصائح أو الخدمات الاستشارية عن طريق الرسائل القصيرة، البريد الإلكتروني، أو ال واتساب أو أي شكل آخر من وسائل الاعلام الاجتماعية. إنني أتقيد بدقة بقوانين بلدي. أنا فقط تقديم التعليم على التمويل والاستثمار في أسواق الأسهم في أفضل طريقة ممكنة بقدر ما أستطيع من خلال هذا الموقع. ومع ذلك، يجب عليك استشارة مستشار معتمد أو إجراء بحث شامل قبل الاستثمار في أي سهم أو مشتق قبل تداول أي استراتيجية الواردة في هذا الموقع. لست مسؤولا عن أي قرار استثماري تتخذه بعد قراءة أي مقالة في هذا الموقع. المعرفة هي السبيل الوحيد لتحقيق النجاح في أسواق الأسهم. أنا أحاول قصارى جهدي لإعطاء سوق الأوراق المالية الاستثمار والتجارة المعرفة من خلال المقالات المنشورة في هذا الموقع. شكرا لزيارة موقعي.

نبذة عن الكاتب: بدأت تداول أسواق الأسهم منذ عام 2007. ومع ذلك كانت أول 3 سنوات خسائر. ثم كرست ما يقرب من 1 سنة على الدراسة، والبحث، وخيارات تداول الورق وتعلمت الكثير في ذلك الوقت. منذ عام 2018 أنا التداول خيارات نافع مربحة. اتصل بي إذا كنت بحاجة إلى أي خيارات تداول المساعدة على 9051143004.

ببساطة أود أن أقول مقالك هو مدهش.

انت وضوح نزلك هو ببساطة بارد وأنا يمكن أن أسوم لك.

هي خبير في هذا الموضوع. حسنا مع إذنكم السماح.

مي للاستيلاء على تغذية رسس الخاص بك للحفاظ على تحديث مع المقبلة.

بريد. شكرا مليون والرجاء الاستمرار في العمل مرضية.

أفضل التحوط.

ما هو أفضل شيء للقيام به. 🙂

الرجاء ارسال لي رسس رابط تغذية من موقع الويب الخاص بك.

أشيش، وأعتقد أن هذا هو: ثيوبتيونكورس / تغذية /. ولكن أنا لست خبيرا & # 8211؛ يرجى مراجعة واسمحوا لي أن أعرف إذا كان يعمل. يمكنك حتى الاشتراك في النشرة الإخبارية من هذا الموقع، وسوف تتلقى رسالة بالبريد الالكتروني كلما أكتب مقالة جديدة. يمكنك العثور على حقل الاشتراك في النشرة الإخبارية في أعلى يمين هذا الموقع.

أريد أن أقرأ كتابة أور أكثر و أكثر وأنا آم تطوير الإيمان على أور صادقة وجديرة بالثقة والعملية. بل إرسال كل ما تبذلونه من السابق، وظائف، بلوق وجميع رسائل البريد الإلكتروني ورسائل البريد الإلكتروني الجديدة جدا & # 8230؛ .. الدكتور رافيندرا سونار 10.9.15 ..

يمكنك العثور على روابط لجميع المشاركات هنا:

اريد ان اقرا كتابة المزيد والمزيد من l آم تطوير الإيمان على كلمات اور صادقة وجديرة بالثقة والعملية. لذلك بل إرسال كل ما تبذلونه من رسائل البريد الإلكتروني السابقة، وظائف، بلوق وجميع رسائل البريد الإلكتروني ورسائل البريد الإلكتروني الجديدة جدا & # 8230؛ .. الدكتور رافيندرا سونار 10.9.15 ..

التحوط يعني شراء مكالمات أجهزة الصراف الآلي ووضعها في نفس الوقت؟ أو ينبغي أن يكون بيع الخيارات؟ تتطلب خيارات البيع المزيد من الهامش. بلز شرح.

التحوط يعني اتخاذ الرهان المعاكس على تجارة أخرى للحد من الخسائر (والأرباح) للتجارة الأصلية. ومع ذلك لا يمكنك أن تقول شراء مكالمة ووضع هو التحوط. كلاهما تجارة مختلفة. على سبيل المثال بيع يمكن أن يكون التحوط للحصول على خيار الشراء. وشراء يمكن أن يكون التحوط لبيع. نعم خيارات البيع قد تتطلب المزيد من الهامش، ولكن كنت ترغب في تحقيق الربح أو كنت قلقا بشأن الهامش؟

نقاط التعلم من هذه المشاركة:

التحوط سوف تبقى لكم في اللعبة.

وينبغي أن يتم التحوط في وقت واحد.

أبدا لعب الصفقات الخاصة بك عارية.

الرجاء تصحيح الخطوط التالية:

في الفقرة هيد & # 8216؛ 3. لا حاجة للطفل-- الجلوس السوق & # 8216؛ :

قضاء بعض الوقت معك الأسرة في حين لا يزال كسب المال.

قضاء بعض الوقت مع عائلتك في حين لا يزال كسب المال.

في الفقرة هيد & # 8216؛ 9. التحوط يسمح لك & # 8230؛ & # 8216؛ :

لأنه ليس هناك حاجة الطفل-الجلوس الصفقات الخاصة بك.

لأنه ليس هناك حاجة للطفل-الجلوس الصفقات الخاصة بك.

شكرا سيدي. أتساءل عما إذا كنت أستاذا للغة الإنجليزية؟ عيون مذهلة. 🙂

ديليب جي كل ما تبذلونه من المواد هي good. In جدا في المستقبل والخيارات تريدينغ مع التحوط لا يمكنك البقاء في سوق الأوراق المالية لفترة طويلة. أنا أكتب أوبتينس الماضي 10 سنوات و العديد من الأخطاء لا تزال تعلم. أحب مقالاتك كلها صحيحة 100٪.

صحيح جدا ماهيندراجي. حتى اعتدت على بيع خيارات عارية منذ وقت طويل مرة أخرى وخسر الكثير من المال. الآن لقد أصبحت 100٪ المحافظ والتداول المتحوط وتتمتع الرحلة. 🙂

سيدي، أنا أتفق معك. التحوط هو أفضل جريمة للدفاع.

مقالاتك هي ببساطة كبيرة & أمب؛ يعطينا تجربة التعلم كثيرا.

أفضل التحوط لأنه يعطي أمر قيادة التجارة.

أفضل التحوط.

يرجى توضيح لي الفرق بين بيع خيار الاتصال & أمب؛ شراء خيار الخيار.

بيع المكالمة أرباح محدودة، ولكن شراء وضع الأرباح غير محدودة. ولكن بصراحة أنها ليست سوى على الورق. 90٪ من المشترين الخروج في الأرباح 10-20 نقطة فقط لأنها تخشى من الحصول على الخسارة مرة أخرى.

لقد ذهبت من خلال التحوط الموقف، ولكن دون & # 8217؛ ر تحت موقف الأسهم النقدية / الآجلة. الأسهم النقدية على ما يرام ولكن ما هو يعني الأسهم في العقود الآجلة؟ سيكون من الجيد إذا شرحت أكثر قليلا عن كيفية التحوط الموقف؟

استراتيجية التحوط الآجلة هناك في بلدي بالطبع التداول المحافظ. لديها خيارات التحوط وأسهم الأسهم النقدية أيضا.

شكرا جزيلا لكم على جميع رسائلكم يا سيدي العزيز. كل ما تبذلونه من رسائل تثقيفية جدا ،، نحن الحصول على معلومات جيدة جدا شكرا جزيلا لك.

سيدي، شكرا لتوجيهكم، أنا المعاناة القديمة من قبل لا تتبع التحوط.

بعد وقت طويل أحصل على البريد الخاص بك اليوم أعتقد مرة أخرى المطر سقوط الخريف لأنني اليوم الحصول على معرفة جديدة من البريد الخاص بك شكرا جزيلا اليوم فصاعدا U r بلدي المعلم.

أي واحد هو أفضل وقف الخسارة أو التحوط موقف السير، وقال أيضا التحوط هو الخيار الأفضل من وقف الخسارة لتكون في الجانب الآمن. لدي سؤال كيفية التحوط الأسهم المستقبل ضد الأسهم في المستقبل، ويقول السابقين. شراء مستقبل الأسهم ل 100 روبية للشهر الحالي & أمب؛ بيع نفسه في Rs.100 أو في الشهر المقبل، كما لا يمكن للجسم الوقت في السوق، حتى الثابتة والمتنقلة إعطاء بعض فكرة من السنة إكس. عندما للخروج في الجانب شراء & أمب؛ بيع الجانب، والأمل في معظم الأسهم التقلب ستعمل في لحظيا، من خلال الأخذ بعين الاعتبار (سعر الافتتاح، أيام عالية وأيام منخفضة منخفضة، الأسهم تحتاج إلى تحديد الذي يذهب إلى أيام عالية وعودة إلى أيام منخفضة أقل من سعر الافتتاح، ثم ممكن فقط لكسب المال في كلا الجانبين، أيضا أن تفعل عدة مرات شراء و بيع آمل. الثابتة والمتنقلة إعطاء السنة الأفكار و الأفكار في هذه المسألة إذا كنت تستطيع.

أنا أبحث عن هذا.

رائع. ما مدى وضوح مناقشتك حول التحوط؟ بل هو فتحت عيني لجميع التجار خطيرة.

شكرا جزيلا.

مع الشكر والتحيات،

شكرا ديليب لتقاسم نصيحتك 🙂

أنا التحوط ولكن فقط إذا كنت بحاجة أيضا. أنا وضع التجارة في الكثير الصغيرة التي متوسط ​​سعر التكلفة بلدي ثم إذا كان السوق يذهب ضد لي أنا التحوط بحد أقصى 20 نقطة إلى أسفل. أجد أن هذا يتيح الوقت لتشغيل السوق في اتجاهي في كثير من الأحيان لا أجد نفسي مع التجارة المحوطة مرة واحدة في الأسبوع في المتوسط ​​(أنا أركز بشكل رئيسي على مؤشر واحد معين في وقت واحد) وجميع الصفقات الأخرى تحول أرباحا . أنا متوسط ​​حوالي 15٪ العائد على الاستثمار في الأسبوع.

كونسيفاتيف أوبتيون & # 038؛ دورة المستقبل.

أنا ديليب شو. أنا تاجر مثلك. لقد تم التداول منذ عام 2007، ولكن فقدت الكثير من المال حتى عام 2018. ثم توقفت عن التداول ودرس خيارات مثل امتحانات الكلية. بدأ التداول مرة أخرى من عام 2018 ولم ينظر إلى الوراء منذ ذلك الحين. فعلت الكثير من البحوث، وقراءة الكتب وفعلت لا تعد ولا تحصى ورقة التداول قبل أن تكون مربحة. يمكنك أن تقرأ عني هنا.

بلدي بالطبع التداول المحافظ منذ عام 2017 يساعد العديد من تجار التجزئة مثلك الذين لديهم وظيفة أو الأعمال التجارية تحقيق أرباح متسقة مثل هذا: (انقر هنا لمزيد من الشهادات). يمكنك أن تفعل هذا بالطبع من منزلك. بعض التجار جعل أرباح مذهلة مثل روبية. 16.26 لكه الربح في 5 أيام على الرغم من النتائج قد تختلف للجميع.

هذا بالطبع يساعدك على تعلم التجارة استراتيجيات الخيار المحافظ للدخل الشهري. بمجرد الانتهاء من الدورة يمكنك البدء في التداول فورا. يمكنك بدء التداول من أي يوم. لا حاجة للانتظار لانتهاء الصلاحية. سوف تجعل الأرباح باستمرار.

هذه الدورة جيدة إذا كان لديك عمل منتظم أو الأعمال التجارية. أنت لا تحتاج إلى مراقبة الصفقات الخاصة بك في كل ثانية.

قبل القراءة يرجى نفهم أن لجميع الاستراتيجيات 5، وسيتم تدريس اختيار الإضراب. اختيار الإضراب في حين تداول الخيارات هو الجزء الأكثر أهمية لتحقيق النجاح.

يمكنك الحصول على اثنين من استراتيجيات المحافظ غير اتجاهي على الخيارات، واحدة استراتيجية المحافظ الأسهم الخيار واثنين من استراتيجيات الاتجاه المحافظ على المستقبل & أمبير؛ مزيج الخيار.

الصفقات غير الاتجاهية مربحة 80٪ من الأوقات وجعل 3-5٪ في التجارة (قد تختلف النتائج).

استراتيجية الاتجاه يجعل المال بسرعة. لا يهم أي جانب يتحرك السهم. في الواقع كنت جعل أكثر عندما كنت مخطئا في تجارة المستقبل. 🙂 بعض الأرباح مذهلة ممكن هنا.

تجارة الخيارات الأسهم يجعل 30،000 في تجارة واحدة وإذا سي هو ضرب هناك وسيلة لاسترداد الخسائر بالإضافة إلى جعل 30K في تلك التجارة.

ليس مطلوبا المعرفة التقنية. لا حاجة لمراقبة الصفقات في كل ثانية.

في هذه الدورة سوف تتعلم كيفية تحديد أسعار الإضراب. تتعلم متى تتداول، والتي تضرب لبيع التي لشراء، كم الربح الهدف الذي يجب أن تبحث عنه، أفضل مكان لاتخاذ وقف الخسارة وماذا تفعل بعد اتخاذ وقف الخسارة - يعني كيفية الحصول على هذا المال. معدل النجاح هو أكثر من 80٪.

وبما أن التداولات يتم التحوط بها بشكل صحيح، فلا يوجد أي ضغط في تداول استراتيجياتي.

أنا واثق جدا من أنك سوف تجعل المال تداول استراتيجيات بلدي. لمساعدتك على النجاح أقدم بضعة أشهر الدعم مجانا.

11 الأسباب التي يجب عليك القيام بها الدورة:

1. تا المعرفة غير مطلوب.

3. المراقبة العادية غير مطلوب.

5. هل الدورة من منزلك.

11. دعم مجاني لأشهر.

لمعرفة المزيد اتصل / سمز / واتساب مي أون 9051143004 أو البريد الالكتروني لي الآن. اعرف الانجليزية والهندية.

يمكنك العثور على العديد من الشهادات في هذه الصفحات:

ملاحظة: سنوات عديدة من التداول قد فكرت لي شيء واحد & # 8211؛ فمن الأفضل دائما لجعل الأرباح الصغيرة شهر بعد شهر، بدلا من تخسر المال الشهر بعد شهر في محاولة لجعل الكثير من المال. لا يحدث أبدا. ولكن الأموال الصغيرة المتراكمة شهر بعد شهر يمكن أن تصبح كبيرة جدا في بضع سنوات فقط.

مثل صفحة الفيسبوك لدينا والحصول على تحديثات فورية تحديثات للحياة.

كيفية تحويل البنك أنيق الأسبوعية الخيارات في العادية للدخل آلة القيادة؟

تم إدخال عقد بنك نيفتي ويكلي أوبتيونس عقد من قبل البورصة الوطنية للهند (نس) اعتبارا من 27 مايو 2018.

في وقت سابق، كان فقط عقود الخيارات الشهرية المتاحة للتداول لجميع الصكوك بما في ذلك الأسهم والمؤشر في حين الآن يمكنك التداول في البنك نيفتي خيارات أسبوعي عقد حيث يوم انتهاء لهذا العقد الأسبوعي هو يوم الخميس من كل أسبوع.

كيف يمكن لهذه الخيارات الأسبوعية على مؤشر أنيق البنك فوائد على عقود الخيار الشهري؟

لماذا للتداول البنك خيارات أسبوعية أنيق من تداول العقود الآجلة أنيق البنك؟

كيف يمكننا التجارة هذه الخيارات المصرفية البنك الأسبوعية لكسب المال؟

فوائد خيارات التداول على العقود الآجلة كما أوضحنا في المادة الجزء السابع & # 8211؛ الشروع في العمل مع التداول & # 8211؛ كيفية تداول الخيارات؟ هو أن كل مستثمر معتاد على القول المأثور القديم & # 8220؛ شراء منخفضة وبيع عالية & # 8221؛ ولكن مع الخيارات التي يمكن أن تجعل الأرباح عندما الأسواق ترتفع، أسفل أو حتى جانبية.

خيارات تعطي ميزة لك كمتاجر لكسب المال حتى عندما الأسواق لا تتجه وتمسك في الفرقة التوحيد.

الخيارات الأسبوعية سوف تعطينا في أي وقت ثمانية عقود أسبوعية (دعوة / وضع) على مؤشر البنك أنيق للتداول جنبا إلى جنب مع الشهر الثالث انتهاء العقد الشهري. لذلك، بمجرد انتهاء الشهر الأول سوف يتم توفير العقود الأسبوعية للشهر الثالث أيضا.

لماذا يشعر التجار الجدد أن تداول الخيارات مثل القمار؟

معظم التجار الجدد الذين يدخلون السوق حصلت متحمس وفتنت لمعرفة أنها يمكن شراء سوق أو الأسهم مع فرص لتحقيق أرباح غير محدودة.

وهذا أيضا مع مخاطر محدودة جدا من خلال شراء المكالمات خارج المال.

يبدو أن مكان جيد للبدء ويشعر أن عصا سحرية من شأنها أن تقودهم إلى آفاق جديدة ببساطة عن طريق شراء خيارات رخيصة أوتم وتحقيق أرباح نبيلة كبيرة.

هذا شعرت أن تكون متزامنة مع علم النفس التاجر (وخاصة القادمين الجدد) لشراء الأسهم منخفضة وبيعها عالية حيث سقطت في فخ شراء الأسهم منخفضة الجودة بأسعار رخيصة.

ما يحدث بعد ذلك،

ذهب كل الجنون إلى استنزاف لمعظم القادمين الجدد عندما غالبية أفكارهم التجارية من شراء خيارات رخيصة & # 8230؛ & # 8230؛ ذهب إلى أن تصبح شيئا ولكن لا قيمة له، ويصبح كل نهاية العالم.

يحدث هذا بسبب حقيقة أن التاجر لا تحتاج إلى أن تكون على حق فقط مع اتجاه حركة السعر ولكن أيضا أن يكون على حق مع توقيت.

إذا كنا مخطئين بشأن أي مما سبق، فسيؤدي ذلك إلى فقدان القسط المدفوع.

عموما، الأسواق في مرحلة الإعداد لأكثر من 70٪ من الوقت مما يؤدي إلى أكثر من 70٪ من عقد الخيار تنتهي بلا قيمة، وبعبارة أخرى أنها تصبح صفر.

لذلك، الوقت يعمل كعدو للمشتري الخيار كما في كل يوم لا يتحرك الكامنة، فإن قسط الخيار يبدأ ذوبان والتبخر.

لذلك، إذا كنت من الخيارات المشتري ثم هناك 30٪ من فرص أنك سوف تكون مربحة في حين أن البائع لديه 70٪ فرص التجارة سيكون في صالحه.

اسأل نفسك عما اخترته للتداول عندما دخلت سوق التداول لأول مرة & # 8211؛ خيارات الشراء لأن المخاطر محدودة أو خيارات البيع التي تنطوي على مخاطر أكبر؟

هل تعرف أن أكبر خطأ أن معظم التجار يرتكبون هو أنهم يعتقدون أنها يجب أن تتاجر كل يوم.

وهم يعتقدون أن التداول هو كل شيء عن يجري أمام مكتب التداول الخاص بك كل يوم، وشراء وبيع اليسار واليمين.

و، فإنها تقع تحت فخ.

إذا كنت تريد حقا تجنب الخسائر التجارية الكبيرة، تحتاج إلى بعض الحقائق والأسباب للتجارة.

وصدقوني سوف تحتاج إلى تعلم الكثير من الصبر لفهم السوق، تأطير واتباع قواعد التداول الخاصة بك.

تجنب الفخ، قراءة لماذا التداول كل يوم هو خطة سخيفة (وماذا تفعل بدلا من ذلك) لفهم كيفية التداول اليوم يختلف عن الفكر العام من التداول كل يوم.

وكيف يتداول المهنيون الأسواق لتجنب ارتكاب الأخطاء نفسها مرارا وتكرارا ..

كنت قد قرأت وسمعت مليون عدد المرات التي خطر مع خيارات الشراء يقتصر على سعر قسط المدفوعة. حق؟

ولكن هل تعلم أننا يمكن أن تحصل حتى المحاصرين وتفقد أكثر من قيمة قسط حتى عندما كنت شراء الخيارات وماذا لو قلت لكم أنه يمكنك تحمل خسارة حتى بعد وجود تجارة مربحة.

قراءة تحذير: 5 الفخاخ لتجنب عند التداول البنك أنيق الأسبوعية الخيارات في يوم انتهاء الصلاحية لمعرفة كيف القول النظري من خسارة محدودة عند شراء الخيارات ليست صحيحة تماما في جميع الحالات وكيفية تجنب واحدة من أكبر فخ ما نحن اتصل على أنها & # 8220؛ صدمة العقد & # 8221 ؛.

يتيح العودة إلى الخيارات & # 8230 ؛.

من خلال هذا لا يعني أن المشترين من الخيارات لا كسب المال أو أننا يجب أن لا شراء الخيارات على أي حال؟

يفعلون & أمب؛ يجب أن نفعل ذلك تووو & # 8230؛

لذلك كلما كنت شراء الخيارات، وخاصة تلك التي تجذب الكثير من الاهتمام من القادمين الجدد أي التي هي من أصل المال، كنت في حاجة الى الصلبة ومبرر صحيح وحقيقة لإثبات أن الأسواق سوف ترتفع وأن أيضا قبل انتهاء العقد & # 8230؛.

عندما تعلم أن السوق سوف ترتفع أو تنخفض بسبب بعض نمط الانتهاء على الرسوم البيانية أو بعض الأسباب الأخرى، ثم من المنطقي لشراء الخيارات وتحقيق بعض النتائج جيدة جدا.

قد نكون على حق مع التحليل الذي قد يرتفع السوق يقول 200-300 نقطة مع بضعة أيام، ومكالمات أوتم تنفجر بنسبة 100-300٪ في غضون أيام قليلة.

وبالمثل، هناك طرق عندما يمكننا شراء خيار المكالمة مع إغلاق وقف الخسارة لحظيا عندما نتوقع البنك أنيق لاستكمال نمط والاستعداد لحشد وتحقيق المال لائق على تجارتنا.

ولكن هذا يتطلب منك أن تكون على حق جدا مع التحليل الخاص بك خصيصا مع اتجاه السوق.

نحن هنا نود أن نوضح أنه ليس أننا لا شراء الخيارات .. نحن نفعل & # 8230؛

ولكن هذه الاستراتيجية لها متطلبات مسبقة مختلفة، وينبغي تنفيذها عندما نتوقع تحركا واضحا اتجاهيا في البنك بعد أنماط صعودية أو هبوطية واضحة.

الشراء سيكون مربحا فقط عندما نتمكن من تحليل والتنبؤ الاتجاه وزخم كبير في الأسعار في حين أن بيع يمكن أن تكون مربحة عندما كنت على حق مع الفكر العام أن السوق قد تتعزز أو لا تذهب فوق أو تحت بعض العلامات النفسية الرئيسية.

ولذلك، لا ينبغي أن يقع الوافدون الجدد تحت فخ خيارات التداول عن طريق شراء المكالمات الرخيصة أو يضع فقط لأنها تتداول بأسعار منخفضة.

كما يشتري دائما يعمل مثل لعب القمار في كازينو حيث الباعة من الخيارات هي صاحب الكازينوهات مع احتمال أعلى للحصول على التجارة لصالحهم.

لا يوجد مقارنة عند شراء الأسهم عالية الجودة بسعر معقول، وعندما كنت شراء الأسهم منخفضة الجودة فقط لأنها تتداول بسعر رخيص.

كنت تاجر سوف تكون دائما في ميزة ولها فرص أعلى للنجاح من التجارة عند اكتشاف وإدخال مخزون عالي الجودة.

كما أن المخاطر حتى تكون أقل جدا والمكافآت ستكون ارضاء جدا.

وقال وارن بوفيه للاستثمار في الأسهم: -

"الخطأ الكبير الذي حققناه في السنوات الأولى كان محاولة شراء عمل سيء بسعر رخيص حقا & # 8230؛

استغرق مني حوالي 20-30 عاما لمعرفة ذلك أنه لم يكن فكرة جيدة. "

ويمكن تطبيق أفكار مماثلة في حين أننا نتعامل في الأسهم أو العقود الآجلة أو الخيارات. لذلك، فإنه ليس هو السعر الذي يتم تداول الخيار بدلا من ذلك هو أكثر حول تقييم احتمال أننا نتوقع لنجاح التجارة.

الاعتبار الكبير هنا هو أولا معرفة وفهم الفرصة واحتمال نجاح التجارة خاصة عند تداول الخيارات بدلا من تكلفة شرائه.

ولكن لماذا الجحيم يجب أن التجارة للحصول على عائدات صغيرة في حين أخذ مخاطر كبيرة؟

فقط لأن 18000 البنك أنيق أسبوعي دعوة الخيار يتداول بسعر رخيص من روبية. 10 لا يجعل من شراء مربحة إذا كان السوق ليس لديه وسيلة للذهاب فوق هذا السوق في غضون أيام قليلة أو حتى انتهاء الصلاحية.

هناك سبب لماذا يتم التداول في روبية. 10 لأن هناك فرص أقل أن تصل السوق إلى تلك العلامة حتى انتهاء صلاحيتها.

لذلك، سيكون من الأفضل بدلا من ذلك كتابة خيار الاتصال 18000 للحصول على قيمة قسط صغيرة كما أن هناك احتمال أكبر أن السوق قد لا تصل إلى تلك العلامة حتى انتهاء الصلاحية.

لذلك، ما إذا كانت الأرباح صغيرة أو كبيرة يجب أن يكون متأكدا مما سيساعد التاجر لاتخاذ مواقف كبيرة وجعل أرباح كبيرة مؤكدة.

لتحقيق النجاح في تداول الخيارات، تقييد نفسك مع البحث أولا حركة السعر من الكامنة (بانكنيفتي) للتنبؤ حيث أنها سوف تتجه نحو الوقت المحدد الخاص بك ثم الذهاب على إيجاد وإدخال عقد الخيار الصحيح مع سبب مبرر لماذا أنت شراء أو بيعه.

أيضا، عندما كنت تتداول خيارات البنك أسبوعي أنيق، ثم قيمة الوقت سوف تتبخر بسرعة كبيرة بعد إغلاق يوم الثلاثاء.

So when buying options, you need to be quick, sharp and right with your analysis about the price movement you are expecting and knowing in what time frame….

This we have discussed at the end of the post outlining the benefits of writing an option than buying options.

Save your time and frustration. Time to read up on how to get started with trading options & bank nifty.

How to Make Money from Trading in Indian Stock Market? & # 8211؛ We have made all the best possible to keep it detailed and crisp all you always wanted to know about Trading & Investing in Indian Stock Market . Here are eight steps to follow to start making money from trading.

Part VII – Getting Started With Trading – How to Trade Options? & # 8211؛ Want to be a full-time options trader but scared of all the jargon’s or find it difficult to understand the dynamics of the options trading. Then you need to read this.

Part I – Getting Started With Trading Options – How does an Options Trade Work? & # 8211؛ Getting into Real Trading is complicated. As a new trader, it is important to make your trading task more simple. Get deep into understanding how the options trade work in real market.

Why More Margin is Required to Short / Write Options than Buying Options? & # 8211؛ Wondering why you are asked to put up more money when you are writing options than when you buy? It has something to deal with the risk of the trade. But that doesn`t reduces the probability of making smart money from shorting the options than buying. Time to Think……

What is BankNifty Index (CNX Bank Nifty Index) & How to trade BankNifty? & # 8211؛ Its always important to understand what derives the movement of the underlying specially when you are dealing with options & that too when it is a highly volatile instrument Bank Nifty – then there is no escape to it. Ask yourself how can you make it big trading futures or options markets you know nothing about?

How to Trade Bank Nifty Futures? & # 8211؛ Ever wonder how many traders have made their trading career just by trading bank nifty futures successfully? Here`s exactly how knowing a market deep and pre-planning will give you the sword to manage your risk wisely, be safe and remain profitable in the market forever. These elements will help transform you from a Aspiring Trader into a Legendary Trader.

Bank Nifty Options Strike Price has a gap of 100 points within each contract. At present the Bank Nifty Index is @17700, so calls and puts of strike price for the weekly contracts from 16000 to 19500 are available for trading with successive contracts of 16100, 16200, 16300 and so on.

But liquidity is only available in the contracts which are near the underlying price with 5% plus and minus i. e. from 17700 till 18500 for call options and from 17700 till 17000 for put options and that too for the current week contract i. e. June 23rd, 2018.

Table 2 – Bank Nifty Weekly Options Chain.

Check out the real time prices of the all the contracts available for trading BankNifty Options @ NseIndia – Bank Nifty Options Chain.

Why Out of the Money Options are the Most Active Contracts?

If you check the chart I, then we can outline that the call which are above the current market price ( i. e. out of the money calls ) are active with most traded volumes i. e. call options of the strike price 17800, 17900 and so on are traded big while the 18000 call has the highest volume traded for the day with highest open interest.

while the put options which are below the current market price ( i. e. out of the money puts ) are active with most traded volumes i. e. put options of the strike price 17600, 17500 and so on are traded big while put option of 17000 is the mostly traded with highest open interest.

Why would the call or put option which does not have any intrinsic value rather all the price of the premium is the time value are actively traded?

This is because a lot of writing is happening for the 18000 call option and 17000 put option i. e the market is expecting that bank nifty will not move anywhere above the 18000 and below 17000 mark before this expiry session.

وأمبير. if that happens then both the sellers of the 18000 call option & 17000 put option will keep up the full premium of Rs. 42 & روبية. 17 in their pocket on the expiry as both of these options will become zero if market expires anywhere within the zone of 17000-18000.

Also, a trader should keep up a hawk eye on any rise on the open interest of the options contract which lets us know which levels markets are considering important as resistance and support.

To check the most active bank nifty options. Visit Top 20 Most Active Bank Nifty Options at NseIndia and choose Nifty Bank Options. This will help you to know the most important levels as support or resistance the market is betting on.

Ease of Trading for Buyers & Writers with Bank Nifty Weekly Options.

Weekly options has surely widened the scope of trading opportunities available for a Bank Nifty trader.

As now the trader can take positions in weekly option contract by paying less premium than he had to pay when entering the monthly contracts.

Earlier the writer or buyer of the options faces a lot of trouble and need to keep in aligning their trading positions as there was big time gap between the expiry of the contracts. But introduction of the bank nifty weekly options hands opportunity to make money for predicting the market moves to be happened in the coming few days than waiting for the end of the month.

Similarly the seller of the options will have to predict the market for few days to take the benefit of the opportunity by writing the bank nifty weekly options.

There are generally two strategies that a trader can choose from :- Buying Options & Selling Options.

Buying option could involve buying calls (when expecting an upside in Bank Nifty Index) or buying puts (when expecting a fall in Bank Nifty Index). While on the other hand, Selling options involve selling calls or put options of the Bank Nifty Contract.

It is very important to understand what constitutes within the premium price of the options contract.

Premium = Intrinsic Value + Time Value.

Intrinsic value is what the options real or self worth is. In other words, what will be the value of the option if the contract is to be expired just right now.

Say, BankNifty is at 18000 and 17800 call is trading at Rs. 250 then the instrinsic value is Rs. 200 which is the value of the option if it will expire just right away. So the time value will become Zero.

Pricing of options are done on the factors like Value of underlying, time to expiry, etc.

So, pricing doesn’t take into consideration the position of the market, support or resistasnce levels that market can face, etc. So, the technical trader is at the advantage as they have this other key swords to understand where the markets will head towards within few days.

خيارات الشراء.

When buying an option you will be paying the premium price which includes some extra as the time value to decide whether you want to fulfill the contract or let your right expire.

A trader who buys a call / put option expect a up / down move in BankNifty Index more than the premium he paid and that too within a short time frame before or atleast till the expiry of the contact as the time value keeps on reducing with time.

For Example, when BankNifty Index is trading at 17700 the weekly call option of 17800 strike price is trading @ a premium price of Rs. 100. The 17800 call option has no intrinsic value while you are paying Rs. 100 extra to get the right to buy the BankNifty @ 17800.

So, the Rs. 100 extra is the time value you are paying to get the time to decide whether you want to fulfill your right to buy the bank nifty @ 17800 or let your right expires and suffer a max loss of the premium you paid.

Therefore you are expecting bank nifty to stay above 17900 i. e. 17800+100 till the expiry to profit from the trade.

Suppose on the expiry day, the bank nifty index rises to 18000 then this 17800 call option right will be worth Rs. 200 as the time value will now become zero and you will make a profit of Rs. 100 (200-100).

But what if the index rises to only 17800 then the call option will be worth Rs. zero and you will suffer a loss of total premium you paid when the bank nifty was trading @ 17700.

So, even after the bank nifty index has risen from 17700 to 17800 but you did not made any profit because you paid the extra value of Rs. 100 to the seller of the contract to extend you the time to decide whether you want to fulfill the contact or let your right expire.

Selling Options.

While when you are selling an option you will be receiving the premium price for giving the buyer the right to buy the option which includes the time value which usually works in the favor of the sellers of the option contract.

A Trader who sells a call / put options expects not much significant down / up move in Bank Nifty Index more than the strike price level. So, sellers expect the market will not go up above the strike price of the call option he has sold and not go below the strike price of the put option he has sold.

Generally seller of the option contract enters the market during the third or last week of the monthly expiry but now its just the matter of the five trading sessions and higher probability trades can be entered by writing the options during the last 2-3 days of the contract as most of the time value evaporates fast during that period only.

In the Example above, on the expiry day if the bank nifty index rises to 18000 then the seller will have to suffer a loss of Rs. 100.

While if the index rises to only 17800 then the call option will be worth Rs. zero and the seller will take profit of the full premium. So, even after the bank nifty index has risen from 17700 to 17800 the seller is in the profit.

So, options trading involves not only predicting the expected price move of the underlying but also to access the time frame within which that price movement will happen as you will be paying the time value when buying a options contract.

Therefore, if you can predict that the market will move big in one direction, then you can buy call or put and make profit while if you are expecting that the market will not go above or below some level, then you can sell that option contract and take back all the premium as the time value will work in your favor if market did not move much with in the stipulated time period.

Now we are clear with the positive and negative of trading options, Let`s come back the context of the Bank Nifty Weekly Options Contract with which you can spot and catch more opportunities.

As now with the weekly options, we will have to access and predict what the market will be doing in the next couple of days to benefit of the opportunity…

Benefits of Trading Bank Nifty Weekly Options.

There are various benefits for this:-

Now traders who would like to take positions in Bank Nifty can do so by buying calls or puts at a price lower than what was available with monthly options.

& # 8211؛ It will help reduce a lot of ambiguity with the reduce time gap to expiry. As with monthly options, a lot of aligning of positions were required to be done within the month. As it is more convenient and possible to predict the moves for 5 trading days than 20+ trading days.

& # 8211؛ As most of the big traders use options for writing and pocketing in the value of time decay. So, these weeklies will help them to have a better control on their trades as now they have to foresee the market for 5 trading days and not more than what will happen in the next 20 days.

# 3. Opportunity to Trade as per market moves 4 times a month.

Now time decay opportunities will be available 4 times in a month as compared to once every month. Traders get active during the last few days of the expiry to write OTM call and put options. So, now they can do so by trading every Week.

# 4. Trade Major Events with Less Risk.

Weeklies will help traders to take positions for big events like RBI policy, Brexit, Election Results and that too with very less risk.

& # 8211؛ Trading on these days requires you to take positions on both directions of the market as we are expecting momentum but not sure of the direction. So, call and puts which will be available at very cheap cost can be bought to take the benefit of the volatility .

& # 8211؛ Hedging for these events – weeklies can be specifically used to hedge your portfolio to any unbiased correction for short term. Like what happened on the day of brexit . Bank Nifty crashed from 18000 to 17000 and returned back to follow its current up trend. So, portfolio hedging can be done by buying weekly puts at low cost.

& # 8211؛ Prior to the introduction of weekly options, if we wanted to hedge a position due to event risk, like a Brexit or RBI Policy or Inflation data, we were forced to use the monthly options and pay a premium for the days remaining to expiration for that option. Now it is much easier and cheaper to deal with hedging for event risk using weekly options.

# 5. Opportunity for Small Traders.

Just like trading an event, small traders can trade these weeklies to hedge their portfolios, write Out Of The Money (OTM) options to take the benefit of time decay which was difficult to do with high cost monthly options.

Weekly option puts are excellent and cheap hedges to cover other positions long term holdings while far weekly call options are great tool to work as Covered Call to write high probability bets.

# 6. Reduced Spread between Bid & Ask Prices.

This will help increase participation from all variety traders so there will be less gap between bid and ask prices. So a quick entry or exit can be done without worrying.

# 7. Increased Commissions & Income to Exchange, Brokers.

And yes, lastly increased participation will leads to more income to exchanges and brokers.

# 8. Keep in Sync with developed Markets.

In other developed nations, weekly options are available for trading on index as well as stocks to help traders hedge and take short positions on according to market conditions. Also, apart from weeklies, there are long term options on index and stocks are also available for trading to take big time positions by paying loss cost.

Hopefully, we are going to see more weeklies on Stocks and other Indexes. Get get on with our shoes and get ready to design ideas, strategies to make money from these weeklies.

How to Trade Bank Nifty Weekly Options?

Pricing of the options are majorly driven by the price movement of the underlying which in this case is Bank Nifty Index. So, to judge out where the options will head towards it is important to give due consideration to where the Bank Nifty Index will move.

Therefore, first and foremost thing that we as bank nifty options trader is to do is analyse and predict what can happen in the bank nifty index for the next couple of days.

There is another way of seeing this – Expecting What the Bank Nifty Index will not do in the next few days?

Many traders do not feel confident in trading bank nifty futures even after they do a great work on research but they are good at evaluating after certain price action of the market what levels markets are not expecting to move above or below.

Options market help them deal with this problem and serve as a great tool to make consistent profits by using multi dimensional strategies in a sideways market movement.

If you are writing bank nifty weekly options right before the expiry day you need to judge out what the market is expected to do within the next day, which levels are important as support and resistance which market may not break even in case there is any high momentum price movement.

This may not require much to predict the quantum and time of the move rather estimating what market may not do till Thursday.

As we outlined, the option premium has the intrinsic and time value at all the time. So, pricing doesn’t take into consideration how much market has already rallied? where are the major support and resistances which market may refer in the coming time?

A chartist has an advantage to get the benefit of this underlying opportunity.

Say if a trader can understand the position of the market and conclude that the market has rallied big and now sitting at a major resistance of 18000 which requires consolidation to happen in a big band to decide whether to go further up or starts correcting then they can sell the call option of strike price above 18000 mark as they will expire worthless if the market may not go above it.

This illustration seems to be so easy to trade. But many of you might be abusing that who the hell will tell us that the market will face the resistance @ 18000?

So, it totally depends on what you are good at calling the market?

Can you make it up that the markets are going to spend time before going up or down or the markets are going to be blasting up or staging lower?

Each type of concluding evidence will help you decide what strategy to choose to take the utmost benefit.

But as now the options trading volumes are increasing multi folds since last few years and most of these option contract (atleast 70%) expire worthless.

So, who the hell is making money if we are buying options all the time to take less risk and ends up with worthless options?

Writing an option puts you at a great advantage as the decay of time value works in your favor. i. e. the premium starts to melt with the time decay.

Actually there are many many different ways we can trade these Bank Nifty Weekly Options but in this article we will discuss more about writing off the weekly options near or on the expiry day to have a regular and consistent flow of income and make this time decay as your sword in the war.

Writing / Shorting Bank Nifty Weekly Options.

Writing options requires full margin to trade as in the case of the futures trading. Traders generally research the bank nifty index price movement and come up with the major levels which they expect market to not break till the expiry of the contract.

As pricing doesn’t consider the position of the market, rather it is dependent on the price of the underlying, volatility, and time to expiration.

Chart readers are always at advantage as they can see other important aspects that is not considered while evaluating the pricing of the premium.

Traders by analyzing the charts can make up that market within few days may not break the major resistance or support areas. So, they may know that the market find sellers coming in from the top again or buyers from the bottom. Traders can evaluate and understand the major trend of the market and can take positions accordingly. Say if the trend is up then there are higher probabilities that market after correcting will start moving again with the current trend and buying of calls can be done or selling of puts which are below the support levels. Market spends time for consolidation after big fast up or down moves which serve as an advantage of writing options to profit out from the time value decay. We may need not be right with the direction of the price move. Some traders are good at analyzing the big picture and can evaluate that the market may not break some support level, resistance level or will go lower before going up, etc.

As the time value evaporates very fast in the last two days for the weekly contract so a big line of trading positions are initiated in the weekly options market late Tuesday or during the trading hours on Wednesday with an expectations of where the market can most rise or fall till the expiry day i. e. Thursday.

So, our task starts by analyzing the big picture and price performance of Bank Nifty Index till Tuesday to predict what can happen on Wednesday and Thursday (the expiry day).

If we can make up that market will not rise or fall below some major levels then we can start writing the options to take the benefit of the time value decay.

Chart 1 – Bank Nifty Weekly Expiry Chart (5 Minutes)

In the chart 1 above (for the month of May & June 2018), all the blue lines represent the Weekly expiry days while the dotted pink line represents the place where market closed on Tuesday of every week i. e. 2 days before the expiry.

For example, the very last blue line represents the weekly expiry of June 16th, 2018 while the pink line before it represents the closing position of the market on Tuesday i. e. June 14th, 2018.

Choosing a right option contract is very important specially when writing the options.

Always go with the charts and try to write the call or put option which is far away from the current market price but has strike price close to some important top or bottom. This will generate a very small profit but will put the probability of working right in your favor.

So, the task here is to analyse the big picture of the market till Tuesday or early Wednesday to forecast where the market can go maximum up or down till it expires on Thursday. Therefore, we need to anchor the major support and resistance levels of the bank nifty index which will serve as an anchor for us to trade in the coming two days till expiry.

Say on 14th June, 2018 (Wednesday) we can see that the market has a strong resistance at or above 18000 which again serve as a sellers place.

So, we can plan to short the 18000 call on Wednesday but as the market kept on going positive since opening and also closed bullish to reach to 17900 levels.

This requires us to trade with conservative thought and will give us another anchor point to consider as support which now is 17500.

Chart 2 – Bank Nifty June Weekly Chart ( 5 Minutes)

Now, we can analyse the market position early on the day of the expiry to conclude maximum it can move up and down with in the day.

As on day of expiry, the market had a big fall within the first few hours of the trading day. But as we analysed that the market was coming to a major support level of 17500 where it had a big consolidation and went up earlier.

So, here we can write the 17500 put options as this level will act as a major support for the market to consolidate or reverse for the upside.

Also, This fall make the conclusion very clear here that the that now the market will not break the today`s high of 17800 or the ultimate top level of 17900. But we cannot write the call options after this crash.

So we have to wait for the market to rise up so that we can start writing the call options of 17800 or 17900 and digests in all the premiums with the time decay.

If market did not reached the levels till the closing time then these call options will expire worthless or in other words will become Zero.

If you see the chart 2, the market started to consolidate in a band after the rise which benefits the option writer.

To check this further in another situation, Lets take the market position as on 29th June, 2018 i. e. Wednesday as now only one day is left for the expiry of the June Contract.

Chart 3 – Bank Nifty Weekly Chart June 2018 (15 Minutes)

There is no clear pattern forming up to conclude which levels can be act as anchored place to take stop losses as market in current phase is in strong intermediate up trend with no corrections.

From the chart above, we can see that the bank nifty has closed near 17700 mark on Wednesday and there are major resistance marks of 17900 & 18000 and support of 17400.

At 17900 mark, market has formed a double top which may again create a lot of problem for the market. Also, there is a major gap down from that level so even if market will reach that level it will just close the gap. This becomes our anchored top to write the call option of 17900 mark tomorrow i. e. on the day of expiry.

Table 3 – Bank Nifty Weekly June Contract Options Chain.

From the table above, the 17900 call option is trading at Rs. 14 which was trading for more than Rs. 20 today. So, tomorrow watching the market opening and few early trading time, we can analyse if market had less chances to go above it then one can write this call option to make small profit but which has higher chances and probability of success.

Also, if you see it is the only call option which has the highest positive change of open interest of 1,20,840 contracts which signifies that this is the option which has most of the interest of the market participant today and surely they are not buying it rather writing off to make Small But Higher Probability Profit.

17900 seems to be a better call option to write which we expect can become worthless with higher probabilities of success..

But as the markets current trend is up and momentum and volatility is huge so we may skip writing the call this expiry as the market can still continue the up trend and even opens gap up tomorrow.

As the volatility is huge so writing of options or carry any over night position specially when writing options in not suggestive as market map open with gaps the following days. So, under such cases, always wait till the day of expiry and trade as per the market move which happens in the early hours.

If we talk about the support of 17400 we cannot call it to be a major but still we can anchor it as a support for the market which can help us to write the put options below that level by checking the movement of the bank nifty tomorrow by the afternoon.

Also, the open interest is increasing in 17500,17600 put options by 1,54,050 and 1,26,600 contracts with highest open interest of more than 5.5 lac contracts in 17500 put option which depicts interest of market at these levels. This shows market is seeing them to also work as a major support so tomorrow market is also expecting that it may gap up and stay above 17500 or 17600 levels so they may also seem good to trade. if this happens, and market gap up and get moving up then the interest in 17700 put option will also increase.

Therefore, as there is big increase in open interest of 17500 & 17600 puts which shows market is seeing them to work as a major support tomorrow so there are chances that market may continue its current up trend further to go near 17900 pr 18000.

So, writing of calls seems a bit less attractive where if we go with the current trend of the market and high increasing open interest in puts of 17500 and 17600, the writing of puts or buying call seems to be a better choice on the expiry day tomorrow.

# 1. Whenever markets are not forming any clear bullish or bearish pattern and we are unable to find places to enter the market and place our stop losses so cannot buy options, then writing of options of strike price above or below the major anchored top or bottom is the only way for the trader to take the benefit of time decay on or before every weekly expiry.

# 2. Wait for the market move till Tuesday Close.

# 3. Anchor Major Resistance & Support Levels.

# 4. Analyse how far the market may go (in any direction) today even when there is high price momentum. If volatility is high and a trend is underway, wait to see the market movement in early hours on the day of expiry to take any positions.

# 5. Check which options has higher open interest and changes in the open interest to understand which market is seeing as major support or resistance near your anchored top or bottom. If even after reaching resistance market starts to show increase in open interest in puts expect market to keep going with current up trend. So skipping writing calls is what makes sense with buying calls or writing puts will put us under great chances of success.

# 6. Write the option above or below the major levels as and when market moves towards it but when it is still far off from major levels.

# 7. As options pricing do not consider these technical aspects of markets, so the right analysis becomes a sword for the trader to make great trades with higher chances of success.

The major drawback of this strategy is that it did not give us place to put up stop losses as even after shorting the option, the premium can rise with the movement against but still not move above or below the strike price and later become Zero.

Thatswhy it makes sense to trade near the expiry days (i. e. on later Wednesday or Thursday) which can give you be clear with the moves and in-turn have higher chances of successful trades.

Trading Bank Nifty Weekly Options in the Last Hours on the Expiry Day.

There are another set of traders who just get active on the last 2 hours of the expiry day. Seeing the trading for the complete day they come to conclusion for the new levels which market will now anchor as resistances or supports. So during the last 120 minutes, levels which are 100-200 points away from the current market needs to be anchored on.

So, the idea again is here to conclude What the Bank Nifty Index will not do in the next 90-120 minutes?

i. e., knowing Which levels market will not break now.

Also, some times during the expiry day which will happen once or twice every month, market will be near the major resistance or support levels. Traders have a tendency to book the profits during the last hours of the trading day when the market has moved in one direction during the day. Also this reluctancy to carry position is strong when the markets have reached some major sellers or buyers level.

So, those levels becomes our anchor levels to write the call or put options above or below it to take the benefit of time decay. The premiums must be trading at very low levels of Rs. 10-25 but the success rate will be huge as time decay is very fast during the last few hours of expiry…

# 1. Wait for the market movement till 1-2 PM on the expiry day i. e., every Thursday.

# 2. Anchor Resistance & Support Levels 100-200 points away from the current market price.

# 3. Also, check if the market is near some major resistance top or support bottom. Market may not go above or below it just because traders are reluctant to enter new buy or sell positions at the end of the day to avoid carrying any overnight positions whenever the markets are near these major levels which may give surprises by tomorrow morning gap up or gap down.

# 4. Also, if the market has been swiftly moving in a single direction though out the day and reaching the major sellers or buyers area then traders who bought during the day starts to book profits before the close. So, this may push the market lower or higher and not breaking these major resistance or supports.

# 6. Write the option above or below these important levels as and when market moves towards it but when it is still far off from major levels.

# 7. Again, as options pricing do not consider these technical aspects of markets, so the right analysis becomes a sword for the trader to make great trades with higher chances of success.

An important point to remember here is that the options will expire as per the settlement price of the underlying which in our case is Bank Nifty Spot Index. Settlement price is calculated as the weighted average of the last 30 minutes i. e. from 3-3:30 PM. Do not confuse it with the last traded price. So if on any day the bank nifty index rises in the last half hour then surely settlement price will comes out somewhere in between the last half hour range.

The objective to detail out about options and writing strategy is to show you how big traders create a lot of positions by writing options according to the market conditions. This can also be justified with increasing open interest in calls and puts which shows big writing off these options. This is not the only way to trade options but there are other strategies that we may follow which with time will keep on sharing.

But Remember, Whenever markets are trending strong in one direction and volatility is there then you should surely avoid writing the options as this may increase the risk and go all against you.. Whenever the volatility is huge it is always better to buy options (Calls or Puts) then writing or selling options first.

So, be sure of why you are buying or writing the options. Don`t be in a hurry to trade similar on every expiry day and even as we say that Trading Everyday is a Silly Plan similarly Trading on Every Expiry is a Silly Plan too and more silly with similar plan every time.

Therefore, it is always important first to understand how volatile the market is and how higher the chances are that it will stuck in range and will not break the important supports or resistance levels. Because if the trend is strong and markets are drifting in one direction from last few days and you still follows the similar strategy of writing options to get few profit points you might get into trouble.

You should know that the when the markets are not trending, stuck in band during the expiry days and no trending pattern is getting completed to let the market run in fast momentum in very short time frame then you can make out the important support or resistance levels which market may not break with higher probability and write options.

But when the trend is strong or patterns for bullish or bearish moves are there then writing will surely not be fruitful or sometimes may out the trader into trouble when the market reverses and corrects fast.

Therefore, always first analyse and give complete importance to the understanding the what the bank nifty is expected to do in the next few hours to day to decide what is best strategy to adopt to trade bank nifty weekly otpions on or near expiry.

Just like buying options is always not the right strategy similarly writing options is always not the right strategy too.

Weekly bank nifty options contract has widened the scope of trading options as now options sellers can repeat the process to sell options 4 times in a month which will reduce the ambiguity of being restricted to trade monthly options which had big time frame of 20+ trading days to expiration.

But only when you trade right ..

and when you do not fall under the trap of trading options by buying the cheap far away options.

Ask yourself why some has so much of interest in these far away option which has high open interest?

Are they really buying it all because they are trading at cheap price?

And if they are buying with such great interest, then who the hell is selling to them and ends up pocketing all premium value of the worthless options on expiry?

To make money it is not always important to know what the markets will do.

.. rather by knowing what the market will not do can make decent money for you and that too with higher probabilities of success.

It`s like the living up with the angel and devil… The angel on one shoulder says you’r trading it the right way, one that will result in a great trade and change the way you see it. Meanwhile, the devil on the other shoulder calls you a moron, born fool for taking risk and avoiding the way to make unlimited profits.

These are not the only way to trade it…

There are many many other ways to trade in the market.. Do find one which is within your comfortable zone and keep stretching…

Make big profits and achieve Sensational RESULTS.

وأمبير. we will keep sharing with you some more awesome ways to do it during our journey together..

We have before us a great deal of opportunity to make monstrous and sensational fortune and feel the jaw dropping miracle. And the way is … إلى خيارات التجارة. And more consistent when trading bank nifty weekly options. But Responsibility to use it wisely is what makes the miracle to continue.

So, next time you think you’re ready to click Enter , go back and weed out these important killers.

Your trading will be more powerful and your profits will surely soar … B ig.

Go Ahead and Tell The World… The Way of Making it Big… Your Way?

It’s our responsibility. Because those of us who are successful have to speak up and share what we’ve learned.

Leave your answer in the comments, share this with others.

After all, isn’t that what we’re here to do? Help people? Change somebody’s life for Good?

Disclaimer : Please note that all the information shared is solely for the general information purpose only. No information, views, opinions or examples constitute a solicitation or offer by JustTrading. in to buy or sell any securities or to furnish any investment & trading strategy / advice or taxation advice or service. Every attempt has been made to assure accuracy & completeness, we assume no responsibility for errors or emissions.

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الوظائف ذات الصلة.

Just Trading.

Latest posts by Just Trading (see all)

Day Trader Lost Rs. 18 Lakhs in 5 Minutes by investing Rs. 11250 (That too in a profitable trade) - April 23, 2017 Warning: 5 Traps To Avoid When Trading Bank Nifty Weekly Options on the Expiry Day - August 15, 2018 Why Trading Every Day is a Silly Plan (And What to Do Instead) - July 10, 2018.

27 أفكار حول & لدكو؛ How to Turn Bank Nifty Weekly Options into a Regular Income-Driving Machine? وردقوو]؛

Nice post….Thank you.

@Amuthan.. Happy to hear that… Thanks for taking time to share your words.

Many many thanks for inspiring the New Comers.

Heartful thanks to you for sharing such words. Its really motivating for us to keep up the pace for sharing more great content. This really gives us a feeling of satisfaction for our effortful work. Thanks a lot and we are delighted that you liked our work.

Let`s work together and help the traders make a success.

I like what you write. Can you point me to any articles you have written on Technical Analysis/Derivatives Analysis/Chart Reading. In case you haven’t can you please point me to some really good resources?

Really good to hear that you like our post.

There are a lot of content available online but unsure of any crisp and clear on chart reading. As most of the content talk only about candlesticks and technical indicators.

We are working on writing content on chart reading and how traders can use chart reading to refine their trading further and get an edge just like professional traders.

Once we are done, we will send you an update on your email or whats-app.

Also, refer to the Recommended Trading Books that helped us in our trading.

REALLY NICE POST AND ENJOYED READING IT.

Could you please let us know if any such tool available which takes all required data from internet FOR A GIVEN (selected) UNDERLYING and can advise us to buy/sell any particular option for the selected underlying?

The automated software’s are generally used by big traders or institutions to take benefit of mis-pricing due to market volatility. That is the reason why markets reverses very fast after big up or down moves…

Any mis-pricing generates trading opportunities for arbitrage or less risk trades..

I don`t think there is any such free tool available online which can generate buy/sell triggers. But if you got any trading strategy for options then you can find ones by exporting the real-time price into excel and using formula`s to determine the right entry time…

I am also in process to write about some option trading strategies we keep a track of. The one we shared in this same article is the one we generally use to trade during or near the expiry.

There are some option software vendors in the market but we have not reviewed them till yet. Let me try contracting some and find which are worth buying. Once we do it we will review it here on the website.. You can also share the ones here, if u find some good one. we can review it here…

By the way, thanks for complimenting and we are also happy that you loved reading it..

Sir, please excuse me. I have a request. Above post has very confusing language. Some sentences are absolutely beyond comprehension. I do not wish to criticize. But simple, short, precise structure will help novices like me to appreciate your work.

Concrete problem. In many places above you have covered call and put actions together. In some places you have talked about call, put, buying and writing in a single breath. Even an experienced option trader cannot make a head or tail out of it.

Hope you do not take me wrongly.

Dear shri Madhav Ji.

I have tried keeping things in great details as possible.. To help all get the core of the thought.. Writing in short will ease my work but feels that won’t suffice (as you adviced as per the need of the newcomers)

Actually, we have shared all the links in between to other article which relates to basics of options, bank nifty futures, etc to help new comers to get the grip on options and bank nifty..

But yes, I understand you concern and whatever questions, or confusion you have related to this article you can post it here ..and I am here to reply and solve it. Any number of queries.

Feel free to share… Will be more than happy to discuss and learn new things from traders like you..

And that what we believe in – An open environment where our readers can ask us anything they wish to.

Waiting for your all questions… Even our other readers will be happy to know new sides and problems they can face while trading bank nifty weekly options..

very helpful article.

Thanks a lot for explaining options in an easily comprehensible manner. your posts have triggered my passion for options.

Looking forward to read more similar stuff.

OH My God! I am amazed reading your thoughts.. Didn`t expected such great response…. Thanks a lot Karthikeyan for such inspiring words.. Your comment has also triggered my passion to right more great stuff.

Sir, Great series of articles. Specially this one (Turn bank nifty …).

Do you have a write up on entry price ? As an example at one place I decide that 17900 call should be shorted @14 Rs. I would decide this on Tuesday evening. But when I fire my order on Wed, the volatility brings price down to 4 Rs within first 20 minutes of trading and then not sure if there is any juice left in it. As traders we never launch market orders. How to deal with this situation ?

I am really glad that you like the work.

At present, I havn`t written much on trading and entry system but i am planning to do so asap. In your example, yes the prices generally fall much faster within the last 1-2 days of the expiry due to time value decay but such fall from 14 to 4 might be of the case that the market has opened way lower than Tuesday close.

Always it better to place in limit orders when trading the options for such small price gap as many of them have big bid and ask price between them.

The only way to deal is by either enter on Tuesday evening or trade on Wednesday the option which is more close to the index value by evaluating well what the market is going to do till the expiry… What levels it will not break.. What tops or bottoms are important… and what the market is due for.. etc.

Can anybody can tell margin required for selling call or put bank nifty ?

Margin for shorting options is more or less similar to what is required to trade in bank nifty futures. At present it is approximately Rs. 60,000.

I want to know about options selling. Here i am putting some question so plz help me by solving these questions.

1. Suppose i short sell Bank Nifty 21000 call at 20 and that time spot price is 20850. If expiry day spot price is 20950 and premium is 0.05. So i am in loss or profit ?

2. Can i buy back my short position at 0.05.

3. What will happen if i forget to square off my short selling position in the expiry day.

4. Suppose i short sell 21000 call and i am in loss and i want to hold my position till the expiry. So is it possible and if yes so how ?

5. I short sell Bank Nifty 20800 call at 30 spot – 20720 and the expiry day Bank nifty close at 20900 and premium became 55. So am i in loss ? if yes so how much loss i have to bear.

I want to answer just five question and i hope you will give proper response.

Good to see you are finding answers to your queries. I have tried to share my thoughts on the questions in detail.. Hope it helps answer your queries rightly.

# 1. When you have shorted Bank Nifty 21000 call that means you are expecting market to expire below 21000 to pocket in the full premium amount of Rs. 20. And, the bank nifty index expired @ 20950 so the 21000 call will become worthless i. e. becomes zero.

So, as you have shorted it at Rs. 20 and it got expired at zero, you made a profit of Rs. 20 x 40 = 800.

# 2. Yes, you can buy your short position @ 0.05.

# 3. Even if you forget to buy back the shorted call option – You will still pocket in the full value of premium i. e. Rs. 20 as the call option has expired out of the money.

# 4. If you have sold short 21000 call and you wish to carry the option then you need to take care of M to M loss everyday as future and options are settled everyday.

Suppose, you shorted 21000 call option at premium of rs. 20 and at the end of the day the premium rises to Rs. 30 and there are few more days left to expiry and you are still in the position then the broker will debit your trading ledger with the M – M loss of Rs 400 (40 x 10). Also, if next day the premium went down and close to Rs. 25 from the last day close of Rs. 30 then the broker will credit the ledger with the profit of Rs. 200 (40 x 5).

Also, you will have to maintain the total margin requirement which these days will be approx. روبية. 60000.

# 5. If you have shorted the bank nifty 20800 call at Rs. 30 and on the expiry bank nifty index expires @ 20900 then the premium will become Rs. 100 and not Rs. 55.

So, you will have to bear a total loss of Rs. 70 x 40 = Rs. 2800.

I hope the answers have solved your queries. You can further read the below article to get equipped with the basics & advanced of the options market.

Further, if you have any more questions. do share here.. I will be more than happy to answer.

Thank you very much Sir. You are doing great job to help the begainer trader.

Thanks Rajat For your kind words…. We started this with the same thought of helping new traders to not commit mistakes that we even fall into during our early days.

Hope to continue the same in the future.

Its very great explanation on Bank Nifty Writing strategies , which i ever found in I have small query on margin required for writing options . Do we need that 60k fixed irrespective of call/put premium we are writing at ( for wg., 20,30,50/- ) ? or margin varies depends on premium value of underlying strike price , which we are selling ?

There is a slight margin difference between the different strike prices where the 60K might become 65K or 70K. So, atleast you will require 60000 these days to carry overnight position in options selling.

But if you are trading for intraday say writting on the day of the expiry, then you might be able to do one lot of short selling at 20k by getting intraday MIS exposure. which requires you to square your position 10-15 minutes before the market close.

نأمل أن تكون هذه المساعدة. If you have any other query, do post it here. I will be more than happy to help.

I have been reading your insanely lengthy posts which are so detailed that i cannot but appreciate the efforts you have been putting in, in every article. Great effort.

I was reading this post and was wondering if it is possible to do weekly spreads on the nifty options ??

Do you have any articles on spreads..

تصحيح. I meant on The weekly Bank NIfty Options.

Till now I didn`t get into that concept… I generally trade options as an alternative to futures. Will try to pace up to learn further about options strategies…

Thanks a lot for your words… really good to hear that it helped you in some bits… You are reminding of the nights i took out to write those… Sleepless nights hahaha…

Hedging with Futures.

11.1 – Hedging, what is it?

One of the most important and practical applications of Futures is ‘Hedging’. In the event of any adverse market movements, hedging is a simple work around to protect your trading positions from making a loss. Let me to attempt giving you an analogy to help you understand what hedging really is.

Imagine you have a small bit of vacant barren land just outside your house, instead of seeing it lie vacant and barren you decide to lawn the entire plot and plant few nice flowering plants. You nurture the little garden, water it regularly, and watch it grow. Eventually your efforts are paid off and the lawn grows lush green and the flowers finally start to blossom. As the plants grow and flowers start to bloom it starts to attract attention of the wrong kind. Soon you realize your little garden has become a hot destination for a few stray cows. You notice these stray cows merrily gazing away the grass and spoiling the nice flowers. You are really annoyed with this and decide to protect your little garden? A simple work around is what you have in mind – you erect a fence (maybe a wooden hedge) around the garden to prevent the cows from entering your garden. This little work around ensures your garden stays protected and also lets your garden flourish.

Let us now correlate this analogy to the markets –

Imagine you nurture a portfolio by picking each stock after careful analysis. Slowly you invest a sizable corpus in your portfolio. This is equivalent to the garden you grow At some point after your money is invested in the markets you realize that the markets may soon enter a turbulent phase which would result in portfolio losses. This is equivalent to the stray cow grazing your lawn and spoiling your flower plants To prevent your market positions from losing money you construct a portfolio hedge by employing futures. This is equivalent to erecting a fence (wooden hedge) around your garden.

I hope the above analogy gave you got a fair sense of what ‘hedging’ is all about. Like I had mentioned earlier, hedging is a technique to ensure your position in the market is not affected by any adverse movements. Please don’t be under the impression that hedging is done only to protect a portfolio of stocks, in fact you can employ a hedge to protect individual stock positions, albeit with some restrictions.

11.2 – Hedge – لكن لماذا؟

A common question that gets asked frequently when one discusses about hedging is why really hedge a position? Imagine this – A trader or an investor has a stock which he has purchased at Rs.100. Now he feels the market is likely to decline and so would his stock. Given this, he can choose to do one of the following –

Take no action and let his stock decline with a hope it will eventually bounce back Sell the stock and hope to buy it back later at a lower price Hedge the position.

Firstly let us understand what really happens when the trader decides not to hedge. Imagine the stock you invested declines from Rs.100 to let us say Rs.75. We will also assume eventually as time passes by the stock will bounce back to Rs.100. So the point here is when the stock eventually moves back to its original price, why should one really hedge?

Well, you would agree the drop from Rs.100/- to Rs.75/- is a 25% drop. However when the stock has to move back from Rs.75/- to Rs.100/- it is no longer a scale back of 25% instead it works out to that the stock has to move by 33.33% to reach the original investment value! This means when the stock drops it takes less effort do to so, but it requires extra efforts to scale back to the original value. Also, from my experience I can tell you stocks do not really go up that easily unless it is a raging bull market. Hence for this reason, whenever one anticipates a reasonably massive adverse movement in the market, it is always prudent to hedge the positions.

But what about the 2 nd option ? Well, the 2 nd option where the investor sells the position and buys back the same at a later stage requires one to time the market, which is not something easy to do. Besides when the trader transacts frequently, he will also not get the benefit of Long term capital tax. Needless to say, frequent transaction also incurs additional transactional fees.

For all these reasons, hedging makes sense as he is virtually insulates the position in the market and is therefore becomes indifferent to what really happens in the market. It is like taking vaccine shot against a virus. Hence when the trader hedges he can be rest assured the adverse movement in the market will not affect his position.

Before we proceed to understand how we could hedge our positions in the market, I guess it is important to understand what is that we are trying to hedge. Quite obviously as you can imagine, we are hedging the risk, but what kind of risk?

When you buy the stock of a company you are essentially exposed to risk. In fact there are two types of risk – Systematic Risk and Unsystematic Risk . When you buy a stock or a stock future, you are automatically exposed to both these risks.

The stock can decline (resulting in losses for you) for many reasons. Reasons such as –

Declining revenue Declining profit margins Higher financing cost High leverage Management misconduct.

All these reasons represent a form of risk, in fact there could be many other similar reasons and this list can go on. However if you notice, there is one thing common to all these risks – they are all company specific risk . For example imagine you have an investable capital of Rs.100,000/-. You decide to invest this money in HCL Technologies Limited. Few months later HCL makes a statement that their revenues have declined. Quite obviously HCL stock price will decline. Which means you will lose money on your investment. However this news will not impact HCL’s competitor’s (Tech Mahindra or Mindtree) stock price. Likewise if the management is guilty of any misconduct, then Tech Mahindra’s stock price will go down and not its competitors. Clearly these risks which are specific to the company affect only the company in question and not others. Such risks are often called the “ Unsystematic Risk ”.

Unsystematic risk can be diversified, meaning instead of investing all the money in one company, you can choose to diversify and invest in 2-3 different companies (preferably from different sectors). When you do so, unsystematic risk is drastically reduced. Going back to the above example imagine instead of buying HCL for the entire capital, you decide to buy HCL for Rs.50,000/- and maybe Karnataka Bank Limited for the other Rs.50,000/-. Under such a circumstance, even if HCL stock price declines (owing to the unsystematic risk) the damage is only on half of the investment as the other half is invested in a different company. In fact instead of just two stocks you can have a 5 stock or 10 or maybe 20 stock portfolio. The higher the number of stocks in your portfolio, higher the diversification and therefore lesser the unsystematic risk.

This leads us to a very important question – how many stocks should a good portfolio have so that the unsystematic risk is completely diversified. Research has it that up to 21 stocks in the portfolio will have the required necessary diversification effect and anything beyond 21 stocks may not help much in diversification.

The graph below should give you a fair sense of how diversification works –

As you can notice from the graph above, the unsystematic risk drastically reduces when you diversify and add more stocks. However after about 20 stocks the unsystematic risk is not really diversifiable, this is evident as the graph starts to flatten out after 20 stocks. In fact the risk that remains even after diversification is called the “ Systematic Risk ”.

Systematic risk is the risk that is common to all stocks. These are usually the macroeconomic risks which tend to affect the whole market. Example of systematic risk include –

De-growth in GDP Interest rate tightening Inflation Fiscal deficit Geo political risk.

Of course the list can go on but I suppose you got a fair idea of what constitutes systematic risk. Systematic risk affects all stocks. So assuming you have a well diversified 20 stocks portfolio, a de-growth in GDP will certainly affect all 20 stocks and hence they are all likely to decline. Systematic risk is inherent in the system and it cannot really be diversified. However systematic risk can be ‘ hedged ’. So when we are talking about hedging, do bear in mind that it is not the same as diversification.

Remember, we diversify to minimize unsystematic risk and we hedge to minimize systematic risk.

11.4 – Hedging a single stock position.

We will first talk about hedging a single stock future as it is relatively simple and straight forward to implement. We will also understand its limitation and then proceed to understand how to hedge a portfolio of stocks.

Imagine you have bought 250 shares of Infosys at Rs.2,284/- per share. This works out to an investment of Rs.571,000/-. Clearly you are ‘ Long ’ on Infosys in the spot market. After you initiated this position, you realize the quarterly results are expected soon. You are worried Infosys may announce a not so favorable set of numbers, as a result of which the stock price may decline considerably. To avoid making a loss in the spot market you decide to hedge the position.

In order to hedge the position in spot, we simply have to enter a counter position in the futures market. Since the position in the spot is ‘ long ’, we have to ‘ short ’ in the futures market.

Here are the short futures trade details –

Short Futures @ 2285/-

Contract Value = Rs.571,250/-

Now on one hand you are long on Infosys (in spot market) and on the other hand we are short on Infosys (in futures price), although at different prices. However the variation in price is not of concern as directionally we are ‘ neutral ’. You will shortly understand what this means.

After initiating this trade, let us arbitrarily imagine different price points for Infosys and see what will be the overall impact on the positions.

The point to note here is – irrespective of where the price is headed (whether it increases or decreases) the position will neither make money nor lose money. It is as if the overall position is frozen. In fact the position becomes indifferent to the market, which is why we say when a position is hedged it stays ‘neutral’ to the overall market condition. As I had mentioned earlier, hedging single stock positions is very straight forward with no complications. We can use the stock’s futures contract to hedge the position. But to use the stocks futures position one must have the same number of shares as that of the lot size. If they vary, the P&L will vary and position will no longer be perfectly hedged. This leads to a few important questions –

What if I have a position in a stock that does not have a futures contract? For example South Indian Bank does not have a futures contract, does that mean I cannot hedge a spot position in South Indian Bank? The example considered the spot position value was Rs.570,000/-, but what if I have relatively small positions – say Rs.50,000/- or Rs.100,000/- is it possible to hedge such positions?

In fact the answer to both these questions is not really straight forward. We will understand how and why shortly. For now we will proceed to understand how we can hedge multiple spot positions (usually a portfolio). In order to do so, we first need to understand something called as “ Beta ” of a stock.

11.5 – Understanding Beta (β)

Beta, denoted by the Greek symbol β, plays a very crucial concept in market finance as it finds its application in multiple aspects of market finance. I guess we are at a good stage to introduce beta, as it also finds its application in hedging portfolio of stocks.

In plain words Beta measures the sensitivity of the stock price with respect to the changes in the market, which means it helps us answer these kinds of questions –

If market moves up by 2% tomorrow, what is the likely movement in stock XYZ? How risky (or volatile)is stock XYZ compared to market indices (Nifty, Sensex)? How risky is stock XYZ compared to stock ABC?

The beta of a stock can take any value greater or lower than zero. However, the beta of the market indices (Sensex and Nifty) is always +1. Now for example assume beta of BPCL is +0.7, the following things are implied –

For every +1.0% increase in market, BPCL is expected to move up by 0.7% If market moves up by 1.5%, BPCL is expected to move up by 1.05% If market decreases by 1.0%, BPCL is expected to decline by 0.7% Because BPCL’s beta is less than the market beta (0.7% versus 1.0%) by 0.3%, it is believed that BPCL is 30% less risky than markets One can even say, BPCL relatively carries less systematic risk Assuming HPCL’s beta is 0.85%, then BPCL is believed to be less volatile compared HPCL, therefore less risky.

The following table should help you get a perspective on how to interpret beta value for stock –

opposite direction. If market moves up by 1%, then – ve beta stock.

of -0.4 is expected to decline by 0.4%

The variation in the market is not likely to affect the movement in the.

مخزون. However, stocks with 0 beta is hard to find.

however the stock is relatively less risky. A move of 1% in the market.

influences the stock to move up by 0.6%. These are generally called the low beta stocks.

however the stock tends to move 20% more than the market.

Meaning, if the market increases by 1.0%, the stock is expected.

to go up by 1.2%. Likewise if the market declines by 1% the stock.

is expected to decline by 1.2%. These are generally called the high beta stocks.

As of January 2018, here is the Beta value for a few blue chip stocks –

11.6 – Calculating beta in MS Excel.

You can easily calculate the beta value of any stock in excel by using a function called ‘=SLOPE’. Here is a step by step method to calculate the same; I have taken the example of TCS.

Download the last 6 months daily close prices of Nifty and TCS. You can get this from the NSE website Calculate the daily return of both Nifty and TCS. Daily return = [Today Closing price / Previous day closing price]-1 In a blank cell enter the slope function Format for the slope function is =SLOPE(known_y’s, known_x’s), where known_y’s is the array of daily return of TCS, and known_x’s is the array of daily returns of Nifty. TCS 6 month beta (3 rd September 2017 to 3 rd March 2018) works out to 0.62.

You can refer to this excel sheet for the above calculation.

11.7 – Hedging a stock Portfolio.

Let us now focus back to hedging a portfolio of stocks by employing Nifty futures. However before we proceed with this, you may have this question – why should we use Nifty Futures to hedge a portfolio? Why not something else?

Do recall there are 2 types of risk – systematic and unsystematic risk. When we have a diversified portfolio we are naturally minimizing the unsystematic risk. What is left after this is the systematic risk. As we know systematic risk is the risk associated with the markets, hence the best way to insulate against market risk is by employing an index which represents the market. Hence the Nifty futures come as a natural choice to hedge the systematic risk.

Assume I have Rs.800,000/- invested across the following stocks –

There are a few steps involved in hedging a stock portfolio. As the first step we need to calculate the overall “Portfolio Beta”.

Portfolio beta is the sum of the “weighted beta of each stock”. Weighted beta is calculated by multiplying the individual stock beta with its respective weightage in the portfolio Weightage of each stock in the portfolio is calculated by dividing the sum invested in each stock by the total portfolio value For example, weightage of Axis Bank is 125,000/800,000 = 15.6% Hence the weighted beta of Axis Bank on the portfolio would be 15.6% * 1.4 = 0.21.

The following table calculates the weighted beta of each stock in the portfolio –

The sum of the weighted beta is the overall Portfolio Beta . For the portfolio above the beta happens to be 1.223. This means, if Nifty goes up by 1%, the portfolio as a whole is expected to go up by 1.223%. Likewise if Nifty goes down, the portfolio is expected to go down by 1.223%.

Step 2 – Calculate the hedge value.

Hedge value is simply the product of the Portfolio Beta and the total portfolio investment.

Remember this is a long only portfolio, where we have purchased these stocks in the spot market. We know in order to hedge we need to take a counter position in the futures markets. The hedge value suggests, to hedge a portfolio of Rs.800,000/- we need to short futures worth Rs.978,400/-. This should be quite intuitive as the portfolio is a ‘high beta portfolio’.

Step 3 – Calculate the number of lots required.

At present Nifty futures is trading at 9025, and with the current lot size of 25, the contract value per lot works out to –

Hence the number of lots required to short Nifty Futures would be.

= Hedge Value / Contract Value.

The calculation above suggests that, in order to perfectly hedge a portfolio of Rs.800,000/- with a beta of 1.223, one needs to short 4.33 lots of Nifty futures. Clearly we cannot short 4.33 lots as we can short either 4 or 5 lots, fractional lot sizes are not available.

If we choose to short 4 lots, we would be slightly under hedged . Likewise if we short 5 units we would be over hedged . In fact for this reason, we cannot always perfectly hedge a portfolio.

Now, let as assume after employing the hedge, Nifty in fact goes down by 500 points (or about 5.5%). With this we will calculate the effectiveness of the portfolio hedge. Just for the purpose of illustration, I will assume we can short 4.33 lots.

Short initiated at – 9025.

Decline in Value – 500 points.

Nifty value – 8525.

Number of lots – 4.33.

The short position has gained Rs.54,125/-. We will look into what could have happened on the portfolio.

Portfolio Value = Rs.800,000/-

Portfolio Beta = 1.223.

Decline in Market = 5.5%

Expected Decline in Portfolio = 5.5% * 1.233 = 6.78%

Hence as you can see, one hand the Nifty short position has gained Rs.54,125 and on the other hand the long portfolio has lost Rs.54,240/-. As a net result, there is no loss or gain (please ignore the minor difference) in the net position in the market. The loss in portfolio is offset by the gain in the Nifty futures position.

With this, I hope you are now in a position to understand how you could hedge a portfolio of stocks. I would encourage you to replace 4.33 lots by either 4 or 5 lots and run the same exercise.

Finally before we wrap up this chapter, let us revisit two unanswered questions that we posted when we discussed hedging single stock positions. I will repost the same here for your convenience –

What if I have a position in a stock that does not have a futures contract? For example South Indian Bank does not have a futures contract, does that mean I cannot hedge a spot position in South Indian Bank? The example considered, the spot position value was Rs.570,000/-, but what if I have relatively small positions – say Rs.50,000/- or Rs.100,000/- is it possible to hedge such positions?

Well, you can hedge stocks that do not have stock futures. For example assume you have Rs.500,000/- worth of South Indian Bank. All you need to do is multiply the stocks beta with the investment value to identify the hedge value. Assuming the stock has a beta of 0.75, the hedge value would be.

Once you arrive at this, directly divide the hedge value by the Nifty’s contract value to estimate the number of lots required (to short) in the futures market, and hence with this you can hedge the spot position safely.

As far as the 2 nd question goes – no, you cannot hedge small positions whose value is relatively lower than the contract value of Nifty. However you can hedge such positions by employing options. We will discuss the same when we take up options.

Key takeaways from this chapter.

Hedging allows you to insulate your market position against any adverse movements in the market When you hedge your loss in the spot market it is offset by gains in the futures market There are two types of risk – systematic and unsystematic risk Systematic risk is risk specific to macroeconomic events. Systematic risk can be hedged. Systematic risk is common to all stocks Unsystematic risk is the risk associated with the company. This is unique to each company. Unsystematic risk cannot be hedge, but can be diversified Research suggests, beyond 21 stocks unsystematic risk cannot be diversified any further To hedge a single stock position in spot we simply have to take a counter position in the futures market. But the extent of spot value and futures value have to be same Market beta is always +1.0 Beta measures the sensitivity of stock Stock with Beta of less than 1 is called low beta stock Stocks with Beta higher than 1 is called a high beta stock One can easily estimate the stock beta in MS Excel by employing the ‘Slope’ function To hedge a portfolio of stocks we need to follow the following steps Calculate individual stock beta Calculate individual weightage of each stock in the portfolio Estimate the weighted beta of each stock Sum up the weighted beta to get the portfolio beta Multiply the portfolio beta with Portfolio value to get the hedge value Divide the hedge value by Nifty Contract Value to get the number of lots Short the required number of lots in the futures market Remember a perfect hedge is difficult to construct, for this reason we are forced to either under hedge or over hedge.

184 comments.

Neat and clean explanation as always. Thanks for this stuff. I am eagerly waiting for the options module. 🙂

Thanks 🙂 The first chapter on option will be out soon!

Hello Karthik, I had one question how to place a stop loss when trading on indicators of super trend, and which indicator I can use with super trend to filter false signals.

You could give MACD a try!

Hi Karthik. I have a few questions. Here’s the first one: With the single stock situation…when the stock price declines, shorting the stock futures makes sense, because of the (a) long-term capital tax benefit, (b) difficulty in timing the market and (c) savings on unnecessary transaction costs. But, when the stock price rises (which is how we’re hoping to make a profit), taking a contrary position in futures will neutralize the gains. So, at which points, should we enter and exit the contrary futures position to lock in the profits?

Generally, Hedging is done when you expect news driven volatility in the market. على سبيل المثال. Before the union budget release, Before the annual reports etc. Once you sense that the volatility is done and news is discounted in the price, you can unhedge them again.

Absolutely, I would agree with you.

Can I not accomplish the same objective more simply by exiting my spot position and getting back in when I think that the volatility is done?

What is the point of hedging – it is again anyway about timing 🙂

Hmm, you can if you know when to initiate and enter back into the position.

For the hedge to be effective you need to ensure your view on markets is reasonable. If you initiate a hedge and the market falls then the hedge works in your favor…else if the market goes up you obviously will not lose money but you will certainly not benefit from the market raise. For this reason, before you hedge make sure you are ready for this trade off. For example we are now looking at a possibility of a US fed rate increase. If that happens markets may react and tank a bit further. So at this stage you need to decide your stance – do you want to take the risk or insulate yourself. Do remember this is a event based hedge so as Jagadesh mentioned remove the hedge once the event is through.

Thank you very much, Jagdeesh, Karthik! I just have a couple of more questions. (1.) You mentioned earlier that the Nifty sort of eliminates unsystematic risk; so rather than go through the trouble of picking a diversified portfolio of individual stocks, is it okay to just buy NiftyBees…which would also make calculations for the hedge value a lot simpler? (2.) I’ve started trading index futures recently (with decent success thanks to you!) and I was wondering if my calculation of support and resistance levels should be based on the particular Nifty future (usually far month) or the current Nifty index?

Glad to know about the success bit 🙂

Anyway, it does make sense to pick up Niftybees…it automatically represents a diversified portfolio. However do remember the performance of the Niftybees will be just as much as the market (obviously). Also for S&R calculation, I would advice you so that on the Nifty Index as opposed to far month contract.

Okay, last two questions 🙂 (1) The predictive analysis (PA) column in Pi…can we use it as a confirmation of our directional view of a future…how often does it predict the price on the right side? (2) The site says that the predictive analysis column is only activated in the last 30 mins. But that’s not the case. In fact, the PA price is adjusted as the day progresses. Has there been a change in the way the feature was originally designed to be used?

The PA column on Pi just tries to predict the closing prices for the day (which is the weighted average of the last 30 mins)….even though the PA columns is functional, it makes sense to look at it for the last 30 mins…so dont use this as a confirmation for your directional. Regarding the accuracy bit, I dont think I can comment as I don’t use this feature myself…but I’m certain it gives out a good ballpark on the closing values. Also, please feel free to ask as many questions as you want, there is no restriction on that 🙂

Just wish to thank you and team Zerodha for making such a wonderful platform where everyone can learn stock market in simple/easy to understand manner.

First I would like to thank you to make it wonderful notes.

In order to have hedge 10L worth of my PP, I need to have another 10L additionl capital in my account. So managing this money and keepig this for such trading are a bit complicated I believe, right?

Well, for 10 L worth of short you need about 16% margin…which is about 1.6L. So I guess it is worth to set aside this money for hedging.

hi Karthik, how many sucessive candles constitute a down trend or an uptrend in a 5 minute and a daily candle chart.

Usual look back period is about 5-7 candles…so if you are looking at EOD then look at at least last 7 trading sessions. Same holds true for 5 mins candles.

Sir, What should be the min. length of a candle to avoid short candles.

Make sure that today’s range is at least the average of the last 10 trading sessions. In this way you could avoid taking trades based on short candles.

hi Karthik, If i use average true range and change the period to 5 on a 5 minute chart, does it mean a look back of 5 five minute candles? and 14 would signify a look back of 14 five minute candles on the same chart?

Yup, thats what it means.

مرحبا! At the end of assumed market volatility hedging positions are to be squared off without any P & L from the point of entering the hedge! So rather exiting positions whenever anticipating volatility( both decisions - to hedge or exit - are to be taken on same assumption) seem better then unnecessary hedging by taking a contra position in same stock / index futures( the cost of additional two trades, locked positions, delayed margin availability thus denying entry or trade in the volatility weigh against…) . Surely there must be other options!

But what if the draw down in market is much more severe than what you have expected? I’ve tried to explain the logic in section 11.2 as to why hedging a better option when you anticipate a fairly large correction. Also, you can hedge using options rather than futures which incurs a much lesser costs.

In the case of future and hedging by future, we shall have unused money also for MTM. How to manage it. What % shall be kept for that purpose? Will it not reduce the value of portfolio? This amount will be idle in the account?

Not actually, the money required for hedging can always be parked in Liquidbees, which yields close to about 6.5% returns, in this way you can manage your money more efficiently.

شكر. What is liquid bees, is it niftybees?

Liquidbees is a debt product traded on the exchange. It is also called a “Liquidbee Exchnage traded fund (ETF)”. In simpler words if you excess money in your trading account you can park that money in an ETF upon which you will get an annualized return of close to 6.5%. Consider this as an alternative to saving bank account with a slightly better return and more efficient tax structure. More details here – benchmarkfunds/gs/Documents/GSLiquidBeESPresntation. pdf.

I have 10 shares of TataMotors and I square off my position at price ₹350. Now how do I ensure (using Zerodha PI) that when I square off my tatamotors holdings, the GS Liquid BeES is credited to my demat account ?

Now lets say I want to buy another stock but have money only in GS Liquid BeES but none in my trading account. So do I have to first liquidate my GS Liquid BeES holdings, or will Zerodha PI automatically do that for me.

When you square off Tata Motors you will have to buy liquidbees manually. Similarly you will have to square off liquid bees to buy the stocks that you want. Cant be done automatically.

above mentioned benchmarkfunds/gs/Documents/GSLiquidBeESPresntation. pdf link is not working now. Please can you share any other link if any or do you have that pdf document downloaded?

Will check and get back on this, Nishigandha.

Please clarify what is niftybees. Same as liquidbees?

Niftybees is an Exchange Traded Fund (ETF), it tracks the Nifty Index.

hello Karthik sir,

Thanks a ton for this great job of making the markets understanding so easy especially for a novice like me.

just had a question…to hedge a long position, be it in a single stock or in a portfolio, which future contract we should be looking at to assume a short position on.. near month, mid month or far month?

please excuse me if this sounds a silly question.:)

Thanks Ashwin, I’m glad you liked our content. I would suggest you use the current(near) month contract to hedge…but if you are very close to the series expiry then you could buy the mid month directly as it would save you from the rollover efforts.

Great simple explaination….

Can i provide the link to download the last 6 months daily close prices of Nifty and Stocks for Beta calculation?

Thanks for in detail hedging view on Stock market.

But Commodity hedging is different than stock market share. Still my question is unanswered. kindly enlighten me if m wrong.

Not really – think about it both stock and commodities are future contracts. The characteristics on the instrument is the same, hence the methodology is also the same. Anyway, we will include an entire module on Commodities and Interest Rate Futures shortly…I’m sure you will appreciate this in greater detail then.

How to and when to come out from the hedged position to get some profit. Because after all, we r trading to make profit. Time comes when we choose to hedge our position or a trade but I usually not able to decide about the which position to close first which one to close later.

Hedging is a part of the game and is not really done to make a profit. In fact its done to protect your profits. You would need to do this as and when you deem appropriate.

Is span margin and exposure margin required to write an option when i have the underlying security in my account? Can I pledge the underlying security and write an ATM put option? I read that it requires 16% of the value to hedge in one of your replies to another questioner. If there is no movement or little movement against my thinking in the underlying, I will be making a small but sure profit. If it goes completely against my assumption, I stand to loose just the brokerage. Please let me know as much in detail as possible.

Yes, option writing requires a margin deposit even if you have the underlying in the account. Yes, you can pledge shares and short options (but cant buy options with pledge shares). The P&L depends on the the movement in the underlying. If you short ATM put and market goes down you will lose money but if market goes up then you will not.

In the example that you have mentioned, you had taken a long position in stocks and a short in futures contract for that stock. Now suppose that I have gone long on CRUDEOILM15OCTFUT and decide to hedge this position, how can I do this? If I take a short position in CRUDEOILM15OCTFUT at the same price, my initial long position will get squared off.

Yeah, you will be long and short on the same contract hence no position. You can probably initiate a short on Nov series.

Thanks for your detailed explanation on Futures trading, hedging…If you could cover one chapter on PAIR trading also it will very useful.

Pair trading will run through more than a chapter, plan to do a series on this sometime soon.

Can I do Hedging from Equity Cash to Equity Future Or Vice Versa ..

Thank you for writing the lucid article.

I am new to the market.

please give some site which gives stock quotes and news and data.

For stock quotes, trading, and charting – kite. zerodha/ . Kite is easily the best in the industry.

For News – pulse. zerodha/ . This is an aggregator of business news…hence a one stop place for news and information.

شكرا لردكم السريع.

thanks Karthik Rangappa. i have really learnt what hedging is all about. i have some questions. i have some risks and uncertainties facing some oil fields. i can only use them in real option valuation if they can be hedged. those uncertainties include, oil price, amount of recoverable reserves, Operational hazards including blowouts, spills and personal injury, operating costs. I am aware that only the oil price is market risk and can be hedged. how can i hedge other unsystematic risks?

Kenny – how about an insurance cover?

If I want to take one Calendar Spread Position in Nifty Futures, do I need to have full margin for 2 Nifty Futures (1 Buy + 1 Sell) before I get the margin benefit? According to Margin calculator, the Margin for 1 hedged position in Nifty Future is approx Rs 12,000. So how much cash should I have to take this position?

Once both the positions are implemented then you do get margin benefit, but you will need full margin while initiating the positions.

شرح جيد جدا. اشكرك على المعلومات. One doubt,

Can we use hedging technique in the normal market ? If yes, what is the difference between hedging in the normal market and in the futures market ?

Varun, you will have to use the derivative market (either futures or option) to hedge the portfolio in regular equity market.

i purchased 10units of aditya birla nuvo @ 873 and 10 units of the same at 850 , so total i have 20units @ 860.15.

now one day the price came to 855.10and i sold 10 units . did not cover it the same day.

but again purchased it the next day at 844 . did i make a profit or a loss in this trade /

PL LET ME KNOW IF THIS STRATEGY IS RIGHT OR A BETTER ONE COULD HAVE BEEN USED.

Anil – I’m a little confused, you totally had 20 units, of which you sold 10 @ 855. Next day you again bought [email protected]…so you now have 20 units again. Also, you would made a loss since you bought [email protected] and sole [email protected] so about 100 rupee loss.

Varsity is great stuff. Not sure whether capital markets is your first love or writing !

sir, can u provide any hedging tips. pl reply me sir.

Superb explanation . 🙂 Thanks for materializing all concepts …

Why should one not hedge it through options. So that downside is limited and one can have gains too. ؟

You can, its just options were not introduced at the point of writing, hence dint discuss the same 🙂

If i hedge my portfolio with Nifty Future and i short it , and if the market move upwards then i will incur a profit on my portfolio and a loss on Nifty Future. Is this a short come of hedging?

When you hedge your portfolio, the portfolio is completely insulated to market movement. Therefore you will neither make any money or lose any money.

Hello Karthik, I am more comfortable in futures rather than options. Can you pls suggest me some hedging strategies for the future itself (Long and Short both?

One of the ways to directly hedge a futures position would be to buy a counter position the next month. Give it a thought.

Excellent explanation.. Thank you..

Waiting for a module on pair trading. Can you let me know when will that be uploaded ?

Thanks for these amazing notes.

That will take sometime Sourabh 🙂

You have mentioned that we cannot hedge the portfolio exactly (so we end up Over Hedging or Under Hedging). Is it wise enough to say that Over Hedge works more in our favour, supposing the market falls, and I am not only hedging my portfolio but also making profit buy the additional amount of hedge (in the future contract)?

Yes, it is possible that you make some profits when you hedge. Some even refer to this as an ‘Alpha Capture’.

what if the weighted beta of my portfolio is negative? ho do we calculate the amount to be hedged and no. of contracts etc.?

Its quite rare to have a - ve negative beta portfolio. But if you do, then you are naturally hedged!

How to hedge futures with options?

If answer is given, then please post the link.

We will discuss this topic sometime soon.

In short here pls if possible.

Only example will do.

Ex – Assume you have two lots of Nifty Futures long, we know delta of a futures contract is 1, so since you have 2, delta adds up to +2. You need to offset this delta with options…maybe by buying 4 ATM PE, since each ATM PE would be -0.5, 4 PEs would add up to -2. So you kind of hedge your futures position.

عندي سؤال. Suppose I bought 1 lot of Nifty Future as NRLM and next day I expect the market to decline in order to protect and make some profit I want to short or sell Nifty future with 4 lots as intraday or MIS and vice versa (I. e buy 4 lots as intraday when expect market to rise). Does it affect my NRML 1 lot Mifty future?

No it does not, as your MIS position will be squared off intra day and NRML will be carried forward.

Sir, how can one hedge a small position of say TATAMOTORS using options on TATAMOTORS?. ( position is smaller than the lot size) Thank you.

In this case you cannot have a perfect hedge, in fact you will be over hedged when you buy 1 lot of Tata Motors puts.

Pls reply to my queried ablove.

Loved Your content. Lots of things are getting cleared after reading your contents. A superb effort, simply superb.

Glad you liked it 🙂

At the outset, let me congratulate you for the marathon effort you have put in while developing this VARSITY.

It has really become the ‘seat of learning’ on the topic.

However, at some places in the text, I find the words “Systematic risk” whereas it should be “Systemic risk” & # 8230؛

Is that right? Or have I gotten the meaning wrong?

Please throw some light.

Thanks for the kind words Ramesh. It is Systematic Risk (also called market risk)…check this – investopedia/terms/s/systematicrisk. asp.

I have a position in spot market for long term percpective but this stock is not in future. My question is if this stock starts to fall due to some fundamental reason, according to Beta calculation we can hedge a position in Nifty but that time if nifty is in sideways what to do.

A hedge position is not expected to make a profit or loss, so it really does not matter which direction Nifty moves.

Thank you for the effort you are taking.

Can we use the hedging in options also? Please explain how to do it with an example.

Yes, you can hedge via options. I need to put up a chapter on this soon, will try and do that 🙂

You said that for calendar spreads, margin requirement reduces owing to reduction in risk. Does this apply to cash - future hedging also? Suppose I sell 1 lot of any stock future and buy equal number of shares and hold both till expiry. In this case also the risk is reduced. Will there be any margin benefit for the cash transaction?

Margin benefit is only for futures position, and not for cash positions.

Also, pls explain if bull(&bear) call spread also has margin benefit.

You should, I’d suggest you enter your positions here and check if there are any benefits – zerodha/margin-calculator/SPAN/

For hedging future will it make more sense buying a put option for same stocks, if option series has just started, though it will limit profit but it will also reduce the risk.

Yes, you can certainly do this. Not a problem at all.

I’m a new trader. Your easy language and example help me a lot to understand the market’s basic. Thanx a lot.

Glad to know that, Biplab. Good luck and happy reading.

I just want to clear my basic in futures contracts..

Suppose I enter into short position on a future on ABC commodity at 50 for 3 months and after 3 months spot rate of ABC commodity is 52 and future rate after 3 months is 54 … Which rate should I use to calculate my loss ?

Could get the settlement of the future in brief. I’m very much confused in it..

Thanks in advance..And thank you for the response too for the earlier one.

Welcome, Rupendar. Good luck and happy learning.

When are you going to introduce Hedging with option and in which chapter?

Very well explained, very easy to understand. Di you have any excel or software which calculates P&L from hedching a particular stock. i.

No, nothing like that for now.

please tell me about hedging i dont know propperly how to hedg . please write to my mail.

No special emails Mr. Singh 🙂

Everything you need to know about hedging is written here. Give it another shot.

Kite provides Beta of a stock. Data provided by small case. Is it same as you mentioned here.

I have a doubt in hedged position.

Long Adani Power Mar - Fut Cont.

Short Adani Power Apr – Fut Cont.

If market goes down, March Contract will be in loss and April contract will be in gain. In this scenario, will march contract alone will be squared off if it reaches below margin.

Please explain me elaborately.

Yes, if you do not have sufficient margins, then Mar contract will be squared off. However, since this is a hedged position, you will get a margin benefit. Check this to know how much margin benefit you will get – zerodha/margin-calculator/SPAN/

Sir, where can find beta of the stock in Zerodha?

You can look up for beta values on the stock widget in Kite. Check the image here.

Loved the explanation.

شكرا جزيلا سيدي. Helpful for my CA exams.

Happy to know that, Jaishree. حظا سعيدا 🙂

Few questions, sir😬

1. In hedging, one is protecting himself from systemmatic risk but he/she is also not gaining much then, why would one would like to hedge?

2.Beta is the calculation on the basis of how market and stock price reacted to each other in previous days or months, Am i right?

3. If i have to calculate the stock beta daily, then i will have to change the closing price on daily basis(closing price of previous day)?

4. Do we have to calculate Stock beta or we can get BETA info. From anywhere esle?

You get it on Kite’s stock widget.

1) A fall from 100 to 80 is 20% decline, the move from 80 to 100 is 25%, so your money has to work harder when going up. So you are better off hedging.

3) Yes, its best of you can calculate beta on a closing basis.

Suzlon Futures price was 21.30. I gave a sell order at 21.20 when the LTP was 21.30 but kite short sold at 21.30 immediately (basically the LTP at the time of placing the trade)? هل هذا صحيح؟

I have traded futures on Kite but never had this issue for either buying or selling.

Seems like a bug? Can you explain?

Exchange tries to get you the best possible execution price. You wanted to sell at 21.20, but there was matching order at 21.30, so you got that price.

sir very lucid and useful content for novice like me. Hats off. I have been continuously going through these modules for past 5 days.

Happy learning and good luck, Karan 🙂

sir how can sell a stock in long and short position at once as u have shown.

You could always use futures and options for this!

Excellent Explanation … I cannot see any Smileys here to post like Whats app… anyway I need to clarify something …

1. Can we calculate Stock Beta for every stock or only the Stocks from NIFTY or SENSEX index ?

2. I saw a video to calculate Beta , they are using WEEKLY Closing price of 10 years instead of DAILY. So what about the big difference by using Historical Weekly and Daily and how it impact Beta values of Weekly and Daily ?

3. From your example, As of 2018 Beta value of ACC Limited is 1.22 [we have used historical 6 months Daily Closing price ] . So this 1.22 will be valid for the next 6 months and again we have to calculate the Beta or it will be a Constant for ever ?

Thanks in advance …

1) You can calculate the beta for every stock.

2) They would have used weekly since they were considering 10 year data.

3) Beta changes – 1.22 is as of now. Having said so, beta does not change drastically. So its kind of safe to assume that the beta you’ve calculated today will be valid for over the next few weeks.

I am a regular reader of all your blogs and am a huge fan of yours 🙂 . I had bought Coal India stock 200 shares @ 295. Now it is somewhere around 250 and is continuously descending. After reading your hedging concept, i checked the future contract of Coal India but in that, minimum qty mentioned is 1700. I am in doubt and don’t know how to apply hedging here.

Could you please suggest what will be best hedging option here?

Happy to note that, Gurpreet 🙂

I’m afraid you will not be able to hedge 200 shares as the lot size will not match your holding quantity.

im beginer in this field. will you suggest me to enter in this trade. if you please guide me from where to start and how.

simple & lucid …. in a layman’s language.

في صحتك! Happy learning!

can we do short in intraday or CNC for longer than a day without using future option?

Intraday shorting is possible, not overnight.

Awesome Karthik, was able to learn Beta and Hedging the Portfolio well with your simple way of illustrations! Kudos to you and your team!

Cheers and happy learning!

Very nicely laid out explanation on Hedging a long stock portfolio. Let me see if I got it right 🙂

Say my portfolio of Rs. 10 Lakh has a Beta is 1.40 Given all time high stock markets, and an expected correction, what is a bare minimum Hedge Value? I guess, hedging 100% of my portfolio by shorting NIFTY would mean that I am also shutting myself out from any potential gains from underlying Long positions?

Yes, that’s correct. Your hedge value will be approx for 14L considering your portfolio is skewed towards a larger beta.

How much period Zerodha considers to calculate beta of a stock ? i mean basis past 6 months or 1 year or 5 years or 10 years data?

This is not really a ‘Zerodha’ call, however you can consider at least 1-year data.

1. If my portfolio value is 3 lakhs say, then one lot of nifty future will come to 7.3 lakhs at current market price(=9750*75). So I cant hedge in futures is what you are saying right?

2. So which part of options have you discusses the hedging topic? I couldn’t find when I look into the titles.

1) In this case, your portfolio will be over-hedged. I’d suggest you think of buying a put instead.

2) I’ve not done that yet, will probably do that soon.

Thanks, I would appreciate doing it , since I am sure many would love to hedge when their portfolio is of lesser value for future hedging.

أنا أتفق. Will put it out soon.

What happens if the hedged futures goes north (contrary to the position favourable for us) and we are forced to square off ? Obviously our spots are going north for good but wouldn’t the hedged futures be dragging our profits down ??

If you are hedged well, then you are completely insulated to market movement. Your position neither makes a profit or yields a loss.

The Nifty PE is above 26.41 as on Oct 13, 2017. I read that in the last 17 years Nifty PE has reached this level thrice and all the three occasions there was a market crash. So can we anticipate a market crash soon? Is it not a good time to buy stock for people who don’t know hedging strategies? Should I sell my stock and book profits?

Well, if you believe history tends to repeat itself then you have a reason to sell. If you believe that its ‘different this time’, then you can forget about selling 🙂

Pl create a pdf regarding bank nifty.

Bank Nifty is a regular futures contract, don’t think it requires a separate PDF.

Do we have any report in NSE or BSE weekly to show positions of traders ? Like Chicago Mercantile publish report weekly called COT (Commitment of Traders) report .

No, nothing of that sorts available I guess.

I have gone thru hedging Future Chapter.

I understood hedging to be done for protecting your portfolio for minimising loss and hence buy future.

Sir, I purchased 1 Maruti future on 3rd of Oct. @ rs. 7912/- from 3 rd of Oct till 20 th Oct a loss is 27925/-. The expiry is on 26 th Oct . Now i am still in bullish way that Maruti stock may go up and i can manage my loss. As u r experienced person , I would like to know your view on the same since 2/3 days are left.

Also please let me understand what exactly is the Hedging with an example.

Ah, I’m really not sure about the direction, Shantaram. I’m afraid I won’t be able to help you much here. حظا طيبا وفقك الله!

Really one has to take his own decision and learn in better way.

But still…… What is exactly hedging? and can u pl provide 1 simple example.

Sorry to bother.

Hedging is a technique where you insulate your positions against market movements. So irrespective of where the market moves, your positions will stay intact. Think of it this way – Outside your house, there are riots happening, you have locked yourself in your room and staying safe inside, completely isolating yourself to the riots outside.

Yes Future vs option which is sustainable for long term ,

Neither. These are short-term trading instruments. Use them when you have an active trading strategy.

Well written and in depth information. مقدر جدا. I think this is so good, will be sharing with my futures/options broker.

Glad to hear that, Patrick! Happy learning!

Excellent write up, you are a very good teacher. Love to see your blogs.

Happy to note that, Yogesh 🙂 Happy learning!

How we get daily returns of Nifty for calculate Beta value.

Thanks for the publisher of this article . It’s very useful and understandable with good examples and required links for ease.

Glad you liked the article, Akhila. Happy learning.

The articles are all wonderful with the exact knowledge that one requires to trade effectively. Beautifully explained by touching upon the most crucial points, which otherwise would require years of hardwork and practical experience.

نشر تعليق.

Varsity by Zerodha © 2018 & نداش؛ 2018. جميع الحقوق محفوظة.

Reproduction of the Varsity materials, text and images, is not permitted. For media queries, contact [email protected]

Best Nifty Option Trading Strategies.

There is no best nifty option trading strategy; however you need to keep certain points in mind before putting a trade to make it work. Please understand any strategy is the best if it is profitable. Unfortunately you will know if that trade was profitable only when you close it.

Important: Whatever you trade you should strictly limit your losses. While trading limiting your losses should be given more importance than taking the profits. One big loss can take away years of profits. To limit your losses you should do any one of the following:

1. Keep a Stop Loss in your system: I said stop loss in your system not in your mind. You know if you put a frog in a tub of hot water, it will immediately jump out to save its life. But if you put it in a tub of cold water, and boil it slowly the frog will not jump out, and hurt himself. This only means that if you don’t put a stop loss in the system, you will never take the stop loss and you may lose too much money before you even realize.

I do not know which broker you trade with, but I am sure every broker offers a stop loss in their system. If you call and trade, you can ask the operator to keep a stop loss in the system as soon as you place the order to trade and it is complete. This way you will make sure your losses are limited. Of course when time comes to take the profits you can cancel the stop loss order and book your profits. In some systems it is done automatically.

2. Or you can hedge your position: I always prefer hedging over the stop loss. لماذا ا؟ Because hedging will keep the trade alive while limiting the losses. In case the markets turn in your favor, you can still book profits. But if the stop loss is hit, you cannot do anything about it. Yes, hedging involves extra transaction, but over a long period of time its more profitable than stop loss.

Did you get what I am trying to say here? All I am saying is that limiting your losses is MORE important than taking the profits. If you can limit your losses I assure you will become a better trader.

NOTE: If you are willing to learn how to trade options profitably I offer a course to help you learn the best option strategies that are almost always profitable in any situation. You will learn three great conservative strategies to trade options profitably month after month while limiting your losses. Contact me for more info.

Depending on the condition of Nifty and of course your view, sometimes it is better to buy options, sometimes it is better to sell options. But how do you decide what exactly to do – Buy or Sell? Here are some of the best option strategies to help you succeed:

1) When the volatility is low, you should buy options. Remember anything less than 15 is considered as less, and anything above 20 is considered high volatility. When the volatility is low, the options are priced low. You can buy and sell them when the volatility increases thus increasing the prices of the options. To know volatility you can visit: moneycontrol/indian-indices/india-vix-36.html.

Note: Since the last 1 year or so (May 2018), volatility is on the higher side. It went up to 39.30 on 12-May-2017 when election results were to be declared in a few days. Buying options and selling them at a higher price is now getting very difficult.

2) Exactly the opposite – when the volatility is high, you should sell options and buy them back when the volatility drops thus reducing the price of the options. Selling naked options by the way is a simple way to suicide in your trading career. In other words please do not sell naked options. It is a very dangerous strategy.

Note: The problem with the two above written strategies is that it is very difficult to time volatility. Today it might be 16 – and you may want to wait for sometime more so that it falls, but the next day it might be 20 and you may miss the bus. Some experienced traders however trade only volatility and win too. Recently Volatility trading was also introduced by Nifty in the Futures segment. But for average retail traders like you and me, it is very difficult to time the volatility. إذا ماذا تفعل؟ Ok, let’s look at some more good strategies.

Also note that no volatility can supersede Delta and Gamma if you view was right. A 50-60 point swift upwards move in Nifty will increase the price of calls and decrease the price of puts even if volatility decreases or increases up to a certain level and enough time is left for expiry but again you should get your timing right.

3) Buy call options – When you think markets will go up for some time. Let’s say Nifty is at 5600 and is on a breakout on the upside. You can buy ITM calls. Why ITM calls? Because ITM calls move fast with the underlying. If you buy out of the money calls, the underlying has to move significantly for you to gain some points. Remember it’s all about points and nothing else . For the same 100 points move in Nifty, the In The Money (ITM) calls will go up more than the Out of The Money (OTM) calls. So your profits will be more. Yes the losses can be more too. But with OTM options you are more likely to lose even if your prediction of the movement was right.

Here is an important point to limit your losses. If your view is that Nifty will go up 200 points only then why you should play a move that you think may never happen? In that case you should sell the 5800 calls (you have bought the 5600 calls). If Nifty expires below 5800, than you keep the premium paid to you as well as the profits you made on the 5600 calls.

عظيم. Hmm!! So what is the problem with this strategy? The problem is that if your view was right and you do not want to wait till expiry, the profit you make will be less than what you could have made had you bought a naked 5600 call. Selling 5800 call will limit your profits beyond 5800. However if your view was wrong you will make a limited income on the calls you sold, and make losses in the calls you bought. Therefore your losses will also be limited. The call is yours, it depends on the loss you are willing to take. You should do this if you feel markets will move in a certain direction for sure. Even if you are right 50% of your time, with this strategy you should make money, because the sold calls will limit your losses.

If you did not understand, selling the 5800 call is NOT unlimited loss as you have bought another call of 5600. This is a limited profit strategy as any profits above 5800 will be a loss for the 5800 call that you sold. So your max profit will be capped till Nifty reaches 5800. After that there is no point in staying in the market. You should close your position and take your profits even if the expiry is far away. لماذا ا؟ Because you cannot predict what will happen during the expiry. The profitable trade today may be a loss making one when expiry arrives. So do not wait till expiry. If you are thinking how will you make profit because one call will be in profit and another in a loss? The 5800 call will make less loss since it was OTM and the 5600 call will be more profitable since it was ITM. In the money options move faster than out of the money calls. The difference is your profit. And if the market starts to go down, the 5800 call sold will start to generate profits; however your losses will be more in the 5600 call bought. The difference is your loss. Someone who bought a naked 5600 call would in this case lose more money than you. However his profits also will be more.

4) Similarly if you think the markets will tank, you should buy ITM puts and sell OTM puts . BTW in any strategy you should clearly know your stop-losses and profits that you want to take. If you don’t know in advance it may be that you will lose more than you want, but it’s strange that you will take much less profits than your losses since you will be hurry to take the profits, but wait for very long when your trade is making a loss. Therefore your strategy should be clear on when to take a profit and when to book a loss even before you put the trade.

5) Selling Iron Condors : One of the most popular strategies worldwide – this is a market neutral strategy where you just need to have an idea of where the markets may be trading near expiry or in the near future. If you feel markets are not going to move much in either direction for the next few days – Iron condors are the best strategy during these times. If the markets actually do not go anywhere and stays at around the same level you will make money . Iron condors are nothing but a combination of credit spreads of calls and puts. The call credit spread acts as a hedge for the put credit spreads.

For example if you think the current series of Nifty will not go beyond 5900 and will not end below 5600, you can sell 5600 put and 5900 call. However since this is a very risky strategy as you can suffer unlimited losses on either the call or the put if Nifty starts moving beyond those levels you will have to hedge your position.

You can buy 6000 call and buy 5500 puts. This way you are insured even if Nifty goes anywhere above 5900 and below 5600. As you can see now you have done a call and a put credit spread. But this strategy will limit your income and the risk-reward ratio is also not good. If you win 3 times and lose 1 time you will barely break even. If you continue doing this for a life time you achieve nothing. Strangely this is the most popular way of trading by most traders all over the world. However this strategy can be very profitable over a long period of time. In short I can only say that you need to adjust if one of your positions gets threatened and have a strict stop loss. The success rate of this strategy is 80%.

Condors works best when nifty is stable. If you think for the next few days nifty will be range bound, you can sell a condor. Some people just sell condor and do nothing. These people are looking for less income but more chances of winning. For example if Nifty is at 5800, what about selling 6200 calls and 5400 puts. What are the chances that Nifty will cross 6200 or go below 5400 at the end of the series? So you can see the wider the condor, the greater the chances of winning. But the wider you go the lesser you make. 🙂 Everything has a trade-off ;).

Some people sell condors without hedging it (means without buying the calls and puts as protection or insurance. For some strange reason its mostly called insurance in the western countries like the US. In India traders call it protection. I do not know why. It does not matter what people call it – you should buy them – Period.

Technically they are insurance as they cannot protect the losses – they can only limit it. 🙂 Unfortunately this is greed and nothing else. Greedy traders rarely make money. They will make very good money for 3-4 months and one bad month will wipe away all their profits. And technically it’s not even a condor. They are actually trading short strangle or short straddle. Both are dangerous strategies.

6) I do trade Futures (Nifty or Stock) but only when I have a strong view. Mostly after a major news is out. As a risk management strategy I consider Futures a very risky derivative. So even if I trade in Futures, I combine them with options.

If you trade Futures too here is a piece of advice: If you buy a Future do buy an ATM put and if you short Future do buy ATM call. Yes this will limit your profits, but a sudden whipsaw (when a stock’s price takes a sudden turn in the opposite direction of the trade sometimes as soon as a trader puts a trade), this will severely limit your losses. If an ATM (At The Money) Option is priced at 100 – your maximum loss is 100 points.

Note: If you like to trade Nifty Futures, my course also has 2 very conservative directional trades – a beautiful combination of Futures and Options. In that you make money if you are right, but you lose less if you are wrong. If you are badly wrong – a gap opening against your Future – you still make money.

Note: Option is a game of math and Option Greeks. It’s the points you make or lose. Whatever strategy you are following you should have a strict target and stop loss. You should do virtual trading for a while before putting your hard earned money on the line. If you have a target in mind, keep it to the number of points and not money. For example if you want to make Rs. 5000.00 and you have bought 10 lots of Nifty. You need only 10 points to meet your target (500*10 = 5000). Exit your position if your target is met. Do not be greedy. Greed, fear and hope are the three emotions that are your worst enemies while trading. If you can get rid of them and get some knowledge you will be a winning trader.

Whenever I write an option strategy I update this page with a link to it: theoptioncourse/free-nifty-option-trading-strategies/. If you think you gain anything by reading the strategies here please do bookmark that page or at least subscribe to my newsletter. Whenever I write a new post you will get an email with link to that article. You can subscribe your email at the bottom of this page.

I will be happy to answer any questions that you may have on options trading. Please ask in the comments section below or contact me.

Thanks & Happy Trading 🙂

You Can Read More On My Site.

الاتصال بي أو الاتصال بي على 9051143004 لمزيد من المعلومات.

ثيوبتيونكورس حقوق الطبع والنشر @ جميع الحقوق محفوظة من قبل ديليب شو، مؤسس هذا الموقع.

انتهاك حقوق الطبع والنشر: يحظر بشدة أي عمل يتعلق بنسخ أو إعادة إنتاج أو توزيع أي محتوى في الموقع أو الرسائل الإخبارية، سواء كليا أو جزئيا، لأي غرض من الأغراض دون إذن مني، ويعتبر انتهاكا لحقوق الطبع والنشر.

الدخل شروط: أي إشارات في هذا الموقع من الدخل التي أدلى بها التجار تعطى لي من قبلهم إما من خلال البريد الإلكتروني أو ال واتساب كرسالة شكر. ومع ذلك تعتمد كل تجارة على التاجر ومستوى المخاطر لديه القدرة والمعرفة والخبرة. عالوة على ذلك، تتعرض استثمارات سوق األسهم والتداول لمخاطر السوق. لذلك لا يوجد ضمان بأن الجميع سوف يحقق نفس النتائج أو ما شابه ذلك. My aim is to make you a better & disciplined trader with the stock trading and investing education and strategies you get from this website. يرجى ملاحظة أنني لا تعطي نصائح أو الخدمات الاستشارية عن طريق الرسائل القصيرة، البريد الإلكتروني، أو ال واتساب أو أي شكل آخر من وسائل الاعلام الاجتماعية. إنني أتقيد بدقة بقوانين بلدي. أنا فقط تقديم التعليم على التمويل والاستثمار في أسواق الأسهم في أفضل طريقة ممكنة بقدر ما أستطيع من خلال هذا الموقع. ومع ذلك، يجب عليك استشارة مستشار معتمد أو إجراء بحث شامل قبل الاستثمار في أي سهم أو مشتق قبل تداول أي استراتيجية الواردة في هذا الموقع. لست مسؤولا عن أي قرار استثماري تتخذه بعد قراءة أي مقالة في هذا الموقع. المعرفة هي السبيل الوحيد لتحقيق النجاح في أسواق الأسهم. أنا أحاول قصارى جهدي لإعطاء سوق الأوراق المالية الاستثمار والتجارة المعرفة من خلال المقالات المنشورة في هذا الموقع. شكرا لزيارة موقعي.

About the author: I started trading stock markets since 2007. However my first 3 years were losses. Then I dedicated almost 1 year on studying, researching, paper trading options and learned a lot in that time. Since 2018 I am trading Nifty options profitably. Call me if you need any help trading options on 9051143004.

I have read couple of your articles. I should say they are impressive.

Unfortunately, I have incurred significant losses by working with some tips providers!

I am worried about my losses that I may incur by following somebody’s advice. How do I trust that your strategies would work?

Thank you for the nice comments. 🙂

Sad to know you incurred losses in trading. Initially everyone loses because they speculate, so please do not worry. I agree losing money trading by paying to tips providers is very painful. One they take your money and two they give bad tips. They are best avoided. Its better to educate yourself and trade.

Here are the reason why you should take my course:

1. Difference between my website and others. If free articles are of high quality the paid strategies must be good.

2. Real Testimonials on real trades by people who took my course.

3. Excellent Support for life through email, whatsapp and phone.

4. Options strategies based on logic of options behavior NOT some magical adjustments.

5. No promise of huge returns – only 2-3% a month which is get able.

6. Simplistic approach to options – not complicated.

7. All trades 100% hedged – so chance of huge loss zero.

8. Loss if at all is limited. Its 1% or less of margin blocked.

9. 80% success rate of the non-directional strategy.

10. Positional trades. No need to sit in front of monitor when the markets are open. Average time of profit booking in a trade is 15 days.

11. A lot to learn in the course apart from the strategies that can help you for life.

Some people focus on cost of the course. Winners focus on value. The price of the course is nothing compared to the money you can earn.

Take your call. Invest in education that’s the only thing that can give amazing returns.

Learn more about the course here:

Thank You for such great inputs.

I read your articles regularly.

I fact your articles are not less than any sort of paid training available in the market.

It gives us new ways of thinking and also such inputs are necessary for successful traders so that they do not loose track.

Thank you very much for the kind words. 🙂

Objective is to help people learn. Just hoping that people read and get better ideas of trading.

Thanks Once Again.

Pl send me nifty option tips.

I do not offer Nifty Option tips or any tips on share trading at all. The real reason is that you will become dependent on me and will not learn anything. Leaving your finances in someone else’s hand is not a good idea. You should be master of your money – not anyone else.

And what if I stopped sending you tips for whatsoever reason? You will then again look for a tip provider. And what if they stop sending tips? How long will this go? You will keep jumping from one tip provider to another wasting your valuable time and money. Remember no one will make you rich, you are the only person who can make yourself rich. So learn to control. 🙂

Therefore its always advisable that you learn trading yourself and manage your own money.

best idea I got from your writing,

Thanks You SRS kushwaha. Glad that I could help 🙂

Really enjoyed reading the options. Planning to start options tradining.

Somashekhar nice to know that you enjoyed reading the post. Keep coming back.

I have been making money in options. But I can only trade in vertical spreads as I do not know a broker who can guide me in butterflies and condors where 4 options are involved.

Can you suggest a broker who has interest in options?

It is good that you are making money in options. Most people who call me have lost money trading options. I think the main reason is that they speculate and over-trade – they buy options and treat it like a lottery trying to hit a jackpot some day. Sadly that day never comes. Over a period of time lots of small losses add up and before they realize they are in huge losses. You will be shocked to know, I have come in contact through this website some traders who are in losses amounting to Rs. 45 lakhs to one crore. 🙁

On the other hand there are traders who make lakhs per month trading only Nifty Options. Still they want to learn conservative options trading because they want to divide their risk profile 50% aggressive and 50% conservative which I think is an intelligent way to trade. Risk management is the most important decision in trading. Traders having strong risk management plans in place rarely lose money.

Anyways, coming to you. Why do you only trade in vertical spreads? No broker will guide you. Why should they? What if you make a loss? You will then start blaming your broker and stop trading. If you stop trading how will your broker make money? Therefore I rarely see any broker in India offering tips in options trading. They make money from brokerage, whether you make money or not.

Therefore my advise is to search a broker who takes the least amount of money per trade (per traded order not per option/future lot traded – it does not matter how many lots of options/futures you sold or bought – if it is one order – they will only charge for that one order). Since in a condor four trades are involved – you will only end up paying for four trades. It does not matter how many total lots of options you bought or sold in those four trades.

One such discount broker is ZERODHA. Right now they charge flat Rs. 20/- per trade.

RKSV Securities is another. Under their Dream Plan 5 trades are Free per month for LIFE of the customer and after that you end up paying Rs. 20/- per trade regardless of the size of the trade.

No monthly commitments in both Zerodha and RKSV Securities.

If you want to learn Conservative Option Trading Strategies, I recommend you take my course. I will also give you support after the course till you become very comfortable trading these strategies yourself and do not need my help.

You can get more information here:

Hope I helped. And Thanks for your comment. 🙂

I did not understand this para. If you pl explain me more elaborately.

Here is an important point to limit your losses. If your view is that Nifty will go up 200 points only then why you should play a move that you think may never happen? In that case you should sell the 5800 calls (you have bought the 5600 calls). If Nifty expires below 5800, than you keep the premium paid to you as well as the profits you made on the 5600 calls.

You see you have bought 5600 calls thinking that Nifty will move up. Assuming you have decided to take your profits only on the expiry day and you have a feeling that Nifty on the expiry day may not cross 5800. In that case the 5800 call will expire worthless. So you make a profit from both the trades – buy 5600, and short 5800. Gold in both hands. 🙂

But Anantha let me also tell you that reality is different. If Nifty starts to move up the trader will make money in 5600 call, but lose money in the 5800 call shorted. He will not have any patience to wait till expiry so somewhere down the line he will book his profit. Which means he will take a profit in 5600 call buy, buy lose some money in 5800 call sell. But his profits will be more than his losses, so overall he will be in profit.

He will feel bad in taking a loss in 5800 call. But that should not be the case. لماذا ا؟ Because what if Nifty does not move up? In that case he will lose money in the 5600 call but make money in the 5800 call sold. Yes over all he will be in loss when he decides to close the trade, but his overall loss will be MUCH LESS than what he would have taken had he bought the 5600 call without selling the 5800 call.

Let me also clarify that this is the real reason why most retail traders lose money trading options. They just buy options looking to double their money in every trade. This seldom happens, and over a long period of time, hope of making a fortune actually kills his trading account. Here is one trader who lost 40 lakhs buying options.

Therefore I highly recommend that you should sell an OTM option whenever you decide to buy an ATM or ITM option. It has three benefits:

1. It reduces the cost of buying the option – so your maximum loss gets reduced.

2. It helps you to stay in the game longer because your loss is less. Eventually you may get lucky by a Nifty reversal and end up in profit.

3. You may decide to wait till expiry whatever happens and Nifty may be in a sweet spot (at 5800) on the expiry day. You will get double bonanza – profit from the 5600 call bought and profit from the 5800 call sold. 🙂

Hope this explanation helps.

Do we have Call and PUT in futures?

If you buy a Future do buy an ATM put and if you short Future do buy ATM call.

Anantha, I did not understand what you meant by “Do we have Call and PUT in futures”. But yes you can trade Futures in every stock or Index approved in the F&O segment by the market makers. Futures however are high leverage and very risky derivative instruments and therefore should be traded with caution. They are more riskier than options.

As far as the second question – نعم فعلا! Since buying or selling Futures both involve unlimited risk, a trader should always buy ATM put if buying a Future and buy ATM call when selling a Future. This way your risk is limited to the premium paid for the option bought. However your profits will be unlimited. 🙂 Why? Because Future can make unlimited profits but the option bought has only a limited loss.

“Since buying or selling Futures both involve unlimited risk, a trader should always buy ATM put if buying a Future and buy ATM call when selling a Future.”

My question suppose if nifty is range bound neither futures nor ATM call or put will make money. Is it right sir.

Shubha, if Nifty is range bound (it depends what range you are talking about), then yes neither of them makes money. In fact assuming Nifty is exactly at the same position on expiry, this trade will lose money as the option bought expires worthless. This is the reason why traders do not buy protection. But how many times does that happen? Nifty will move in a 30 day period and almost 200 points move is guaranteed. This is where the bought option helps. If wrong the loses are severely restricted, if right the trader will not take all the points – but still good enough profit. But please understand its the losses that kicks us out of the game and a hedges’ work is to stop exactly that – to limit the losses. Hope its now clear.

I am very new to option. Why can’t we trade long box and Short box every time ??

Good question Abhishek 🙂

And welcome to the beautiful world of options. 🙂

Short Box and Long Box are great arbitrage trades with zero loss and good profits but you will rarely find this opportunity in any stock or Nifty.

In fact any kind of options arbitrage is hard to find now a days.

For those who don’t know:

Short Box is: When a trader sells ITM options (both calls and puts), and buys OTM options for protection.

Long Box (also known simply as Box Spread) is: When a trader buys ITM options (both calls and puts), and buys OTM options to reduce the option buying cost.

Short box is done when the combined credit is MORE then the difference between the ITM strikes sold.

Long box is done when the combined credit is LESS then the difference between the ITM strikes that a trader plans to buy.

Taking a live example lets do a Short Box for December 2017 expiry:

Date: 17-Nov-2017. INDIA VIX: 14.36. Spot Nifty: 8365.

1. Sell ITM Call 8300: 214.

2. Buy OTM Call 8400: 147.

3. Sell ITM Put 8400: 112.

4. Buy ITM Put 8300: 79.

Lets see the total premium received (ours was a short box):

Calls: 214 – 147 = 67.

Puts: 112 – 79 = 33.

Total 67+33 = 100.

As you can see the value of the box will also be 100 on the expiry day, the trader will not gain anything from the trade. In fact his broker will gain since he pays the brokerage for the trades of four legs to open and four to close.

Abhishek, hence now it should be clear why can’t we trade Long Box and Short Box every time. The opportunities are few and far and you will be wasting time looking for them.

I am looking for a software that generates option strategy payoff diagrams for NSE FNO, stocks & صناديق الاستثمار المتداولة.

Can You pls suggest me one ?

As far as I know some brokers like the rksv. in offer it for free for their clients. You can ask your broker as well may be they offer but you do not know.

You may get paid software too if you search online. But why do you need it?

I do not make a payoff diagram before I start a trade. I have a plan and follow that plan. I know my max loss and max profit – that is it – why do I need a pay off diagram? It does not solve any purpose for me.

I am sure you are a banker 🙂 Bankers love these complicated presentations and charts. All those are useless in live trading. Heck I do not even trade on a live streaming stock-rates java platform. Those red and green LEDs confuse me. I trade on web and am happy with my trading and results. What will I do with charts?

Hope you get the point.

Dilip ji, My Friend My Mentor!

I owe you a heart-felt thanks for educating me through your engrossing & wonderful lessons.

I have learnt on options from your free course and I keep reading time and again a few of them.

In fact, I am trying to sort out a strategy or two for Day trading the Options. Where I feel comfortable and all that. I have gone through (learning) various strategies of various Gurus (Hari Swaminathan also among them).

That’s how I chanced upon your course. (Now, do not take it as seeking advise, I am just speaking my mind). I hope to find it in a few more days.

If I find it, even then I will ask you to pat my back! (because, I have already taken you as my friend, whether you like it or not…doesn’t matter!)

BTW, do you know why? I believe that you are a good man indeed.

Thank You Vijayji for such nice comments. It is nice to know you are still willing to learn option trading even after retirement from your job. أبقه مرتفعاً. 🙂

I want to know that those 5 strategies going to be given by you in your option course is designed by you or that was the common strategies written in all option books,

Also i want to know whether your strategies work in recent turmoil also.

Out of them 3 are entirely made by me. The other 2 exist, but why it works is because I trade in a very different way than what you read online.

For example two people trade butterfly but one of them always make money and the other losses. It is the same strategy that everyone knows, but one loses and the other makes money.

So there is no problem with the strategy but the way its traded.

In my course you will learn how to trade non-directional in the best possible way and give yourself the best chance to win. You learn when to trade, which strikes to sell, which to buy, when to take profits out and when to take stop loss. There is no hope in the strategy. It is a very disciplined approach that I follow and you learn the same.

Non directional can give a small manageable loss if Nifty breaks the range fast and strong which comes like after 3-4 months. However even that we recover from strategy 2. Remember that all options are hedged so losses are very small.

The conservative stock option and the directional trades also follow the same approach.

Notify me of new posts.

Learning points from this post :

& # 8216؛ Limiting your losses is MORE important than taking the profits. & # 8216؛

& # 8216؛ BTW in any strategy you should clearly know your stop-losses and profits that you want to take. & # 8216؛

Plz correct the following line :

In 5th para from the end.

& # 8216؛ If an ATM is priced at 100 – your maximum loss is 100 points. & # 8216؛

& # 8216؛ If an ATM option is priced at 100 – your maximum loss is 100 points. & # 8216؛

Sir done. Sorry for the delayed correction – customers took priority. 🙂

كونسيفاتيف أوبتيون & # 038؛ دورة المستقبل.

أنا ديليب شو. أنا تاجر مثلك. لقد تم التداول منذ عام 2007، ولكن فقدت الكثير من المال حتى عام 2018. ثم توقفت عن التداول ودرس خيارات مثل امتحانات الكلية. بدأ التداول مرة أخرى من عام 2018 ولم ينظر إلى الوراء منذ ذلك الحين. فعلت الكثير من البحوث، وقراءة الكتب وفعلت لا تعد ولا تحصى ورقة التداول قبل أن تكون مربحة. يمكنك أن تقرأ عني هنا.

بلدي بالطبع التداول المحافظ منذ عام 2017 يساعد العديد من تجار التجزئة مثلك الذين لديهم وظيفة أو الأعمال التجارية تحقيق أرباح متسقة مثل هذا: (انقر هنا لمزيد من الشهادات). يمكنك أن تفعل هذا بالطبع من منزلك. بعض التجار جعل أرباح مذهلة مثل روبية. 16.26 لكه الربح في 5 أيام على الرغم من النتائج قد تختلف للجميع.

هذا بالطبع يساعدك على تعلم التجارة استراتيجيات الخيار المحافظ للدخل الشهري. بمجرد الانتهاء من الدورة يمكنك البدء في التداول فورا. يمكنك بدء التداول من أي يوم. لا حاجة للانتظار لانتهاء الصلاحية. سوف تجعل الأرباح باستمرار.

هذه الدورة جيدة إذا كان لديك عمل منتظم أو الأعمال التجارية. أنت لا تحتاج إلى مراقبة الصفقات الخاصة بك في كل ثانية.

قبل القراءة يرجى نفهم أن لجميع الاستراتيجيات 5، وسيتم تدريس اختيار الإضراب. اختيار الإضراب في حين تداول الخيارات هو الجزء الأكثر أهمية لتحقيق النجاح.

يمكنك الحصول على اثنين من استراتيجيات المحافظ غير اتجاهي على الخيارات، واحدة استراتيجية المحافظ الأسهم الخيار واثنين من استراتيجيات الاتجاه المحافظ على المستقبل & أمبير؛ مزيج الخيار.

الصفقات غير الاتجاهية مربحة 80٪ من الأوقات وجعل 3-5٪ في التجارة (قد تختلف النتائج).

استراتيجية الاتجاه يجعل المال بسرعة. لا يهم أي جانب يتحرك السهم. في الواقع كنت جعل أكثر عندما كنت مخطئا في تجارة المستقبل. 🙂 بعض الأرباح مذهلة ممكن هنا.

تجارة الخيارات الأسهم يجعل 30،000 في تجارة واحدة وإذا سي هو ضرب هناك وسيلة لاسترداد الخسائر بالإضافة إلى جعل 30K في تلك التجارة.

ليس مطلوبا المعرفة التقنية. لا حاجة لمراقبة الصفقات في كل ثانية.

في هذه الدورة سوف تتعلم كيفية تحديد أسعار الإضراب. تتعلم متى تتداول، والتي تضرب لبيع التي لشراء، كم الربح الهدف الذي يجب أن تبحث عنه، أفضل مكان لاتخاذ وقف الخسارة وماذا تفعل بعد اتخاذ وقف الخسارة - يعني كيفية الحصول على هذا المال. معدل النجاح هو أكثر من 80٪.

وبما أن التداولات يتم التحوط بها بشكل صحيح، فلا يوجد أي ضغط في تداول استراتيجياتي.

أنا واثق جدا من أنك سوف تجعل المال تداول استراتيجيات بلدي. لمساعدتك على النجاح أقدم بضعة أشهر الدعم مجانا.

11 الأسباب التي يجب عليك القيام بها الدورة:

1. TA Knowledge NOT required.

3. المراقبة العادية غير مطلوب.

5. هل الدورة من منزلك.

11. دعم مجاني لأشهر.

لمعرفة المزيد اتصل / سمز / واتساب مي أون 9051143004 أو البريد الالكتروني لي الآن. اعرف الانجليزية والهندية.

يمكنك العثور على العديد من الشهادات في هذه الصفحات:

ملاحظة: سنوات عديدة من التداول قد فكرت لي شيء واحد & # 8211؛ فمن الأفضل دائما لجعل الأرباح الصغيرة شهر بعد شهر، بدلا من تخسر المال الشهر بعد شهر في محاولة لجعل الكثير من المال. لا يحدث أبدا. ولكن الأموال الصغيرة المتراكمة شهر بعد شهر يمكن أن تصبح كبيرة جدا في بضع سنوات فقط.

مثل صفحة الفيسبوك لدينا والحصول على تحديثات فورية تحديثات للحياة.