View: Bearish. Poora teaching Lesson 4, Puts: profit when markets fall mein hai. Yeh page reference card hai.
Illustration, not a recommendation. The strikes and premiums on this page are fixed teaching figures, not live quotes, and no strategy suits every account or every market. Read the full disclaimer.
NIFTY theek thaak gire, aur jaldi gire. Wahi deadline wala discipline jo long call mein tha, bas neeche ki taraf. Girawat aati hai to rally se tez aati hai, aur theek isi wajah se market put side par zyada IV leta hai (skew).
Position kaise banti hai
Weekly 25,000 PE ₹110 par kharido. Ek lot ₹7,150 ka, aur yahi pura aur aakhri risk hai.
Entry se pehle ke numbers
Max nuksan: ₹7,150, expiry par 25,000 ke upar kahin bhi
Max profit: bada; market zero tak jaye to badhta hi jaata hai
Entry par Delta −0.50, long gamma, short theta, long vega. Crash IV uchhaal dete hain, isliye sahi waqt par liya gaya long put do baar jeetta hai: direction par aur darr ke naye bhaav par.
Sach mein kya expect karein
Long call jaisi hi ganit: baar baar chhote nuksan, kabhi kabhi badi jeet. Puts mein ek extra imaandar kharcha hai: unka IV call side se structurally mota hota hai, to neeche ki bet lagane ke liye aap skew bhi bharte ho.
Position sambhalne ke rules
Wahi teen exits entry se pehle likhe hue: target, loss level, time stop
Crash wale din exit ke din hote hain: IV ka uchhaal jaldi baith jaata hai, aur put ka sabse achha bhaav aam taur par panic ke dauraan aata hai, uske baad nahi
"Aur neeche jaane ke liye" pakde mat raho; expiry intezaar nahi karti
Doosri strategies ke saath
Portfolio ke against rakho to yeh protective put hai: wahi auzaar, insurance wala kaam (Lesson 8)
Uske against ek neecha put becho aur woh bear put spread ban jaata hai: jo skew aapne bhari thi uska kuch hissa wapas bik jaata hai
Matching call jod do to binary events ke liye straddle ban jaata hai, jab sirf direction hi pata na ho
Iska aaina kisi ka cash-secured put hai: table ke us paar wale seller ko samajhna (Lesson 21) yeh jaanchne ka sabse tez tareeka hai ki aapka bhaav waajib hai ya nahi
Aam galtiyan
Girawat ke baad, sabse oonche IV par, us "aur neeche" ke liye puts kharidna jiska bhaav kabhi theek nahi baithta
Door ke OTM puts ko "sasta" crash bet maan kar hafta dar hafta khareedte rehna
Hedge (Lesson 8) aur bet ko ek samajh lena; unki size aur unka aanklan dono alag hote hain