Hello Friends. My name is Michael Gonsalves. I have enjoyed reasonable success with Options strategies. I made Rs. 2.5 Cr in FY 2019-20 and Rs. 1.65 Cr till date in FY 2020-21 (see proof). I am eager to learn more and also to impart my learnings to others. If you have any queries, please ask. I will answer soon.

Quick-fire profit of Rs. 50000+ from IRCTC

Started by Michael Gonsalves, Oct 30, 2021, 03:37 AM

Previous topic - Next topic

Michael Gonsalves

Today, IRCTC plunged nearly 30% because of the Govt's decision to take a share of the commission income. When the stock was at the day's low, I saw a tweet by Harshada of ZEE Business that the Govt was likely to reverse its decision. I immediately sold one lot of 600PE. Within the next few minutes, there was an official announcement that the Govt had indeed reversed its decision. This caused the stock to surge. The short Puts lost value and has given a profit of Rs. 50k plus.