Crude Oil is still hovering above 8100, is there some local positive news?
Can we finally expect a gap up tomorrow?
I bought Sept calls for Nifty and Sept puts for Crude Oil, genuinely praying for a peace deal ✌🏼
Gifty is up more than 150 pts!
We're not paying taxes to the govt so that they can distribute it to people as freebies.
We want our tax money to be utilised on improvement of healthcare, education and infrastructure. Sending cash to accounts of a certain section of society isn't why we paid tax.
If the govt does want to fund freebies, they should do it from the amount they received in donations.
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Pasting it again to cross word limit
We're not paying taxes to the govt so that they can distribute it to people as freebies.
We want our tax money to be utilised on improvement of healthcare, education and infrastructure. Sending cash to accounts of a certain section of society isn't why we paid tax.
If the govt does want to fund freebies, they should do it from the amount they received in donations.
Before anyone attacks me, I graduated from a tier-2 college and I'm currently working in FAANG. I don't think that reservation needs to end, but it definitely needs to transform.
The current form of reservation discourages hard work. For years the "lower castes" have faced discrimination, and as a result they don't have resources to compete with the well to do families.
The solution for this isn't a lower cut-off for them, but rather providing them resources to uplift themselves. Govt should subsidise or sponsor their education, healthcare and give them quality housing. The subsidy can vary depending on how much a family lacks resources.
Bridge the resources gap and make the cutoffs same for each and everyone. This would truly uplift the backwards people and make them self sufficient to live a comfortable life.
Before anyone asks, my net PNL is between -65k to -70k. I have a risk appetite for ~2 lakhs loss.
My learnings
Sell options when you're slightly bearish or bullish
Buy options when you have a strong conviction for a direction, much much better returns than selling.
Use futures if you want to take a positional stand. They're much less volatile than option.
Don't identify yourself as just an options buyer or an option seller, use everything that's available to you.
Don't trade with money you can't afford to loose. Even after my current PNL I'm not panicking because it is within my risk appetite. Identify your appetite, stick to it.
While selling options did have a decent return, I realised I spent most of my time staring at the charts. I'm a working professional and this isn't healthy for me, therefore, I'll be rotating my portfolio to accumulate 1 lot of nifty 50 and sell covered calls on it. Could take 3-4 days to buy the entire lot so probably I'll start selling covered calls from next week.
Serves me right for breaking my rule and selling puts. Indian markets will never be bullish.
Edit: Recovered little more than 10k in Silver expiry
You need to understand that F&O is a zero sum game. For someone to make money, someone else has to loose it. If a guy is giving tips, why is he letting someone else take his profit? Why is he not going all in on his own tips?
Most of the folks here get scared to death by loosing 5-10k. Firstly, don't enter in F&O with such low capital. And secondly, don't trust these tips. Those people are giving tips to you and if you make money on their tips they'll start charging you later for more tips. That's their business model. Stay away from it.
Our profits and losses are decided by one single person's tweets. Not nation's economy, not company's performance. Just one fkn man who isn't even an Indian.