Options Strategy & Analysis (Post-Trade)
NIFTY 50 – November 12, 2025
Previous Day Trade Analysis
Final P&L
₹5,512
Return on Risk
235%
Trade Duration
1 Day
1. Strategy Recap
Bull Put Spread (Sell 25750 PE @ ₹149.25 → Buy 25650 PE @ ₹47.25) initiated on 11-Nov at 10:30 AM. Net credit ₹102.
2. Market Outcome
Nifty opened gap-up, made high 25,922 (+0.70%), then consolidated in 25,750-25,880 range whole day. Never touched 25,750. IV crushed from 11.5% → 10.2%.
3. Strategy Performance
- Entry (11-Nov 10:30): Sell 25750 PE ₹149.25 | Buy 25650 PE ₹47.25 → Net Credit ₹102
- Exit (12-Nov 14:45): Sell leg ₹8.60 | Buy leg ₹1.10 → Net Debit ₹7.50
- 24H Theta decay captured: ₹94.50 points (92.6% of credit)
- P&L: ₹102 - ₹7.50 = ₹94.50 points × 75 lot = ₹7,087 (gross) → ₹5,512 net after brokerage/STT
- Max drawdown faced: ₹375
- Expected payoff ₹3,825 (50% target) → Actual ₹5,512 (72% of max profit)
4. Learning & Observations
- Chart bias (price > 200 EMA) held perfectly; no false signal.
- OI support at 25,600 acted as magnet; 25,750 never tested → OI data highly supportive.
- IV crush gave extra 18 points; low-vol environment ideal for credit spreads.
- No psychological bias; exited manually at 72% profit.
5. How to Re-Strategize
- Could have rolled the spread up to 25,850-25,950 for extra ₹35 credit.
- Or closed at 50% and re-entered same spread.
- Future tweak: Use 80-point wide spread.
6. Forward View
Nifty now facing resistance 25,920-26,000. RSI overbought on 15m/1H. IV at yearly low. Next setup: Iron Condor 25,600-25,700 / 26,000-26,100 if range forms tomorrow.
7. Metrics Snapshot
| Strategy Name | Bull Put Spread (25750/25650) |
| Max Profit / Max Loss | ₹7,650 / ₹2,350 |
| Actual P&L | ₹5,512 |
| Win/Loss Ratio (cumulative) | 4 Wins | 1 Loss (80% win rate) |
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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.
