Week ended 21st October: Iron Fly in the Bank Nifty

[Michael Gonsalves]

The straddles are at 39300 and 39400. The wings are at 38500 and 40100. The BEPs are at 38821 and 39879.

[Michael Gonsalves]

The surge in the Bank Nifty to 40000, the subsequent plunge, coupled with the steep increase in ViX spooked me. As my positions was still flat, I decided to exit and reevaluate the position later.