Nifty Long Ratio Trade - Closed it for about 14.4k for two sets per 20L as suggested. We are in a zone where any fast upside move may not result in positive PnL. There are a few adjustments which one can consider if willing to hold. One possible adjustment is - 1. Exit the 24800 call which is about 70 delta now 2. Buy the 25100 call which is 50 delta 3. Buy 25700 call hedge to convert it to a risk defined 1:2:1 call butterfly. There is net credit of about 155-160 in this adjustment which makes the trade from 130 debit to a net credit. I have inclination towards closing the trade here and will watch the price action until expiry tomorrow before initiating new trade in nifty on the long side. Also, I have Bharti/Hero on the long side as well.
