Calendar in the Nifty for 30th Sept

[Michael Gonsalves]

I started a new calendar spread in the Nifty by buying the October options and selling the September options.

[Michael Gonsalves]

The Calendar is doing quite well thanks to the increase in the ViX. I added to the position by buying the Nifty 17800CE October and selling the 17750CE of September.

At present, the position is showing a handsome profit of Rs. 1.40 Lakh.

[Michael Gonsalves]

The steep plunge in the Nifty, coupled with a drop in the ViX, led to heavy losses in the long calls. However, by aggressively moving the short calls closer to the spot, I made a gain of Rs. 1.19 Lakh.