Week ended 2nd December: Calendar in the Nifty

[Michael Gonsalves]

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.

[Michael Gonsalves]

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.

[Michael Gonsalves]

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.

[Michael Gonsalves]

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.