Trade No. 6
Nifty 16 Delta weekly Iron condor for expiry 21 Nov.
Taken on 14 Nov. (Thursday) after 3 PM
Exited on 19 Nov. at profit of +1275
P&L of recent trades (excluding brokerage)
Trade 1 (17 Oct.) : +805 (1 Lot)
Trade 2 (24 Oct.) : +138 (1 Lot)
Trade 3 (31 Oct.) : +756 (1 Lot)
Trade 4 (07 Nov.) : +807 (1 Lot)
Trade 5 (14 Nov.) : -1260 (3 Lots)
Trade 6 (21 Nov.) : +1275 (3 Lots)
Exit conditions
* If unrealised profit crosses 80% of max profit.
* If unrealised loss is more than 4% of margin deployed.
* Exit on Wednesday if none of the first 2 conditions are met.
Adjustments to be done if required
* If nifty crosses one of the short strikes on either side, the non-threatened side will be exited and moved to the average strike of initial two short strikes.
* If nifty further crosses the breakeven point on either side the iron condor to be converted into iron fly by exiting the non-threatened side.
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