Sold Axis 660/760 Strangle for 16.50

Wanted to get back into Kotak if IV's went up- but that ddn't happen. Axis Bank appeared attractive so took this Trade. Still wanting to get back into Kotak in more favourable conditions

Benefit from both Theta and slight drop in IV

1.3% up here but the Delta loss was compensated by the Theta decay. Will consider if an adjustment is needed tomorrow.

Happy collected daily theta cheques. Now up 20k or a little over 2% ROC

Not getting any help from Delta-direction, but the Trade is chugging along

Plodding along. Now up 33k or 3% ROC

Now up 40k or about 4% ROC and perfectly positioned to capture more theta decay

Hope the SUUTI decision to sell at 690- a 3% discount- does not depress the Price too much tomorrow

Probably good for more, but why tempt fate? The News on the SUUTI sale and it's consequences may cause some big fluctuations in Price in either direction. Exiting with Profit of 46k or a little more than 5% ROC.

The 1% move up in the Stock ate up the day's Theta decay-but still going ok.

Have 1x1080CE, 2x1100CE and 10x980PE. If it continues up will move some 980PE upto 1020PE. If it crosses 1080, will move 1x980PE to 1040PE. Still want to stay in Trade and allow some more Theta Decay to play out.

Moved the last 1080CE to 1100CE for a cost of 6 and moved 2x980PE to 1000PE for 2.50 each. Marginal loss of Premium.

Now up 115k or about 6% ROC. RR becoming unfavourable as expiry approaches and Gamma starts to kick in. Will probably exit early next week. Would have liked to have moved the Trade to next Expiry but unfortunately there is no liquidity in SSO and quotes will only start next Fri

Moved 2x1020CE down to 1080CE for credit of 6

Not working out. Deltas increasing rapidly and adjustments not helping much. Exiting the Trade.

Should get out at yesterdays MTM levels. Place orders to exit.

All orders executed. Out at MTM of 120k-around 6% ROC. Could have been 8%+ if Stock had behaved till tomorrow evening-but that's part of the game. Hopefully IV's will go up and liquidity open up in March Options to enable me to put on another Trade