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It is because of my slight bullish bias that I sold Nifty Call option with lower Delta. Hence, although the market has gone up by 40-50 points over the last 2 hours, both PE & CE Option prices are down.
As I said earlier, in this market, option buying will not make you money. I also said I had a slight Bullish bias. See how the market is moving. I am with a target of around Rs. 30 due to Theta decay.
After the gap-up, Nifty is currently rangebound. With 2 days to expiry, Theta decay will get faster. But I am holding this position with a slight Bullish bias. So let's see.
I think I should stop putting any of my trade here. Took 3 trades before this one today. All were winners. The last one that I put here is the only losing trade today!