Week ended 9th December: Calendar in the Nifty

[Michael Gonsalves]

In the past, I made several mistakes while setting up and managing the Calendars which led to my gains being squandered away. I saw how a profitable position turned into a loss making one owing to the adjustments. I have learnt from these mistakes.

[Michael Gonsalves]

The Calendar position was looking extremely unwieldy with a large number of assorted Calls and Puts. So, I did the sensible thing of squaring off all positions with the intention of having a fresh positions.

[Michael Gonsalves]

The new Calendar is as follows. Hopefully, the Nifty will stay range-bound and enable me to make some money

[Michael Gonsalves]

I committed some blunders while making adjustments which crunched my profit. If I would not have made any adjustments, I would have had a profit of Rs. 1.35 lakh +. My take-home is now about Rs. 79000.

[Michael Gonsalves]

I also had a Calendar in the Bank Nifty which was grossly mismanaged. If I had let the Calendar alone, it would have yielded a hefty gain of Rs. 2.35 lakh. However, due to my adjustments, the gains were reduced to a paltry Rs. 22000.