Catch me if you can @Mitesh_Engr

Time for a🧵
Mitesh Sir's EXPIRY Option Selling 101:
• What to look for?
• Strike Selection & Ratios
• SL mgmt
• Avoiding freezes
• Monthy Expiry
• Event days
• How he would have traded last expiry?

In collaboration with @AdityaTodmal

Edward de Bono says intelligence is like a🚗 Automobile

“A powerful car may be driven badly. A less powerful car may be driven well. The skill of the car driver determines how the power of the car is used.”
What @Mitesh_Engr Sir looks at for Expiry Trading:

• Technicals of BNF
• Individual Heavyweight stocks of BNF
• Support/Resistance of BNF on weekly TF
• Also has Superb SL management
• When it comes to adjustments, he is always on toes
How to Select Strikes to Sell?

• You can't sell based on premium
• Follow only trend
• Price action is best to sell on expiry day
• Never wait for the options to go to zero
Using Ratios to Sell:

• If BNF is in a range then strangles
• If breakout/ breakdown from a range then directional
• Selling 70/30 or 80/20 ratios
• 2 examples on how he used ratios
Stop Loss Management:

Logical explanation given by @Mitesh_Engr Sir on how to manage stop losses

• SL shouldn't hit easily given the spikes on expiry day
• High probability of success
• Don't lose huge in a violent move
Excellent explanation on how to avoid an option freeze on an expiry day:

• Keep Stop loss below range
• Exit when hit
• Re-enter when index enters range
Conviction:

• Ability to take re-entry multiple times
• High premiums
• Limited qty
• High profit
• Don't sell Rs. 1-3 options
• Sell higher premiums and book them at Rs. 2-5

Have added an example of how he had conviction on a particular expiry day
Monthly Expiry:

• Never assume option writers will defend their positions
• They are already expired
• Play according to day trend
• No prediction
How to play expiry if knitted with Events:

• No expiry view ahead of the event
• Take decision post the event
• Look at price action to see where chances are based on certain levels
• Risk would lower as we've avoided the volatility
What @Mitesh_Engr Sir has to say on low premium selling on expiry day: 👇

• Sell lower premiums high probability
• Repeat multiple times
• Lose heavy one time
• Risk reward is unfavorable
• Classic case of eating like a chicken & shitting like an elephant
How to play last Thursday's Expiry? (15th July 2021)

• Daily chart shows ready for breakout
• Derived supports on hourly charts
Through explanation as to how @Mitesh_Engr Sir plays intraday on expiry

A detailed explanation on last Thursday's Expiry given below:

Please go through it to absorb better
Put option charts of last Thursday

• All Puts trading below ATP
• All strikes were supports or below it
Call Option charts of last Thursday

• Trading below ATP after 13:00 hours
• 36000 was a resistance
• Calls above it expected to be zero
This was a thread on how @Mitesh_Engr Sir trades on expiry day.

@niki_poojary and @AdityaTodmal will be collaborating to make more such interesting threads on how Mitesh Sir trades

Keep an 👀 out for those threads

Happy learning weekend to everyone!🤠
If you have missed out on how @Mitesh_Engr Sir trades Positional Option selling

You can check the same here 👇
https://t.co/Bz4Vt8u4lX

More from Nikita Poojary

#BANKNIFTY

Look how it took support of the upward sloping black trendline https://t.co/mhqkIzBkQN

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The article is, at heart, deeply weird, even essentialist. Here, for example, is the claim that proposing climate engineering is a "man" thing. Also a "man" thing: attempting to get distance from a topic, approaching it in a disinterested fashion.


Also a "man" thing—physical courage. (I guess, not quite: physical courage "co-constitutes" masculinist glaciology along with nationalism and colonialism.)


There's criticism of a New York Times article that talks about glaciology adventures, which makes a similar point.


At the heart of this chunk is the claim that glaciology excludes women because of a narrative of scientific objectivity and physical adventure. This is a strong claim! It's not enough to say, hey, sure, sounds good. Is it true?

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