Options Strategy & Analysis (Post-Trade)
ETHUSD – October 25, 2025
Previous Day Trade Analysis
Final P&L
₹5,100
Return on Risk
140.7%
Trade Duration
Intraday
1. Strategy Recap
- Chart: Bullish bias, price above 200 EMA, support at 3650.
- Option Chain: Highest Put OI at 3650 (support), Call OI at 4000 (resistance), IV ~63%.
- Strategy: Bull Put Spread – Sell 3700 PE, Buy 3650 PE (Net Credit 0.75 USD per lot).
2. Market Outcome
ETH opened near $3,943, dipped to $3,920 intraday but recovered to close at $3,944.49 (+0.1%). Price stayed above 3700. IV dropped to ~58%. OI: Put OI at 3650 down to 208.35K (from ~241K), confirming support.
Updated Charts: 15-min (recovery), 1H (consolidation), EOD (uptrend).
3. Strategy Performance
- Entry: Sell 3700 PE @ $1.34, Buy 3650 PE @ $0.59 → Net Credit $0.75 (₹63.75/lot).
- Exit (mid-day, ~50% target): Sell 3700 PE @ $0.45, Buy 3650 PE @ $0.30 → Net Debit $0.15 (₹12.75/lot).
- P&L per lot: $0.60 (₹51). For 100 lots: $60 = ₹5,100.
- Lot Size: ETH = 100 lots of 0.01 ETH (1 ETH position).
- Maximum drawdown: Premium rose to $0.85 briefly (unrealized loss ₹1,700, ~27% of max profit).
- Expected (50% of ₹6,375 = ₹3,187) vs Actual ₹5,100 (faster decay + IV crush).
4. Learning & Observations
- Chart held: Support at 3650 respected.
- OI supportive: Put unwinding at 3650.
- Execution: Manual exit at >50% profit; no bias.
5. How to Re-Strategize
Trade worked: Could roll to 3750/3700 for +$0.40 credit. Alternative: Iron Condor if IV <55%.
6. Forward View
ETH >$3,900. Wait for $4,000 break (Bull Call) or pullback to 3850 (credit spread). No re-entry today.
7. Metrics Snapshot
| Strategy Name | Bull Put Spread (3700/3650) |
| Max Profit / Max Loss | ₹6,375 / ₹3,625 |
| Actual P&L | +₹5,100 |
| Win/Loss ratio (cumulative) | 1/0 (100%) |
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Disclaimer
Options trading involves significant risk and is not suitable for every investor. Please ensure you understand the risks involved and consult with your financial advisor before participating. Past performance does not guarantee future results. Trade responsibly.
