This week, I want to try the Calendar in the Nifty to see whether it is easier to manage as compared to the Bank Nifty.
(https://zerodha.trade/zerodha-uploads/nifty_calendar_021221.png)
The savage plunge in the Nifty to 17800 put the Calendar in jeopardy. I made aggressive adjustments, including a naked sale of the weekly calls, to save the position. Luckily, the Nifty recovered to some extent and the position is now looking safe.
(https://zerodha.trade/zerodha-uploads/Nifty_Calendar_021221.png)
The Calendar was showing a hefty gain of Rs. 1.45 Lakh till the mid-session. However, a sudden reversal in the market shaved off a lot of the gains. The MTM is now about Rs. 72000.
(https://zerodha.trade/zerodha-uploads/Nifty_Calendar_021221-2.png)
I lost track of the multiple adjustments I made. It is safe to assume that the position may have broken even or yielded a minor profit.