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Stocks

Strangle update: booked some puts, still hold calls

I bought a 2850/2900 November strangle on Friday, as per my last post, for Rs. 500 total.

I’m in Delhi on a week’s holiday so I placed some orders to take care of huge moves…and the orders went through – half my puts are out at Rs. 550 each. I still own half the puts, and all the calls, and I’ve covered 55% of my total cost – marked to market it’s still only a 20% profit or so.

I have to figure out how to create a system out of this…A profit target of 30% each way should work, I think, but this requires some rigour now.

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