Currently ~3% away on both my sold call and put legs, while the ATM protective put is now ITM.

With 3 days to expiry, the position is comfortably placed to make money this week.

Now it’s about monitoring the open and deciding whether any adjustments are needed.

Execution > prediction.

End of the day position.

We ended at this yesterday 👆

🌍 Overnight Global & Domestic Headlines | 19 May 2026

• US markets closed mixed.
• Asian markets opened mixed, tracking muted global cues.
• Crude oil remains a key monitor, volatility persists amid geopolitical developments.
• US bond yields and Dollar Index continue to influence risk sentiment globally.
• GIFT Nifty indicates a cautious to flat start for domestic markets.
• FIIs/DIIs activity remains crucial after recent volatility in index positioning.

Noise is everywhere. Focus remains on positioning, adjustments and risk management, not prediction.

As the sensex has moved up by ~300 pts, I have shifted the sold put leg by 300 pts.

Today is Nifty expiry so the market is expected to be volatile. Will shift my legs cautiously.

As we move along, you will see that this strategy is a mathematical model and does not require predicting market moves using technical indicators, or sit infront of the charts.

The market moves, we respond.

Live Trade Journal from day 0
https://docs.google.com/spreadsheets/d/1evXCZIctZtgQW-msMxdOg9Nvvcl_RSuY3tiPZh-qgMU/edit?usp=drivesdk

Currently, tail risk exists on both sides of the market.

Upside risk:
Any policy action by the government aimed at attracting FIIs, such as changes in capital gains taxation, could trigger a sharp upside move.

Downside risk:
If US-Iran talks fail and geopolitical tensions escalate into broader conflict, markets could react sharply lower, especially given India’s sensitivity to crude oil.

Our response:
We are keeping our sold legs sufficiently away from spot, giving ourselves enough room and time to adjust, react, and defend if either tail event materializes.

We do not predict tail risk. We position for it.

If no more adjustments are done on this trade, by the expiry day (Thursday), the potential of this trade is :

+1.8% of deployed capital if market closes between 75400 and 77500

And significantly more if the market closes between 73500 and 75400

We are already sitting at +1.5% on deployed capital for the current week's sensex expiry.

A sudden move on the upside can wipe out our gains.

Let's wait for now.

As sensex is looking resilient, I have shifted the sold put option leg from 73500pe to 73700pe.

Insight

In my strategy, it is always easier to shift an OTM short put closer to ATM. The protective ATM long put acts as a cushion, absorbing the impact of any abrupt downside move.

Insight

In case the market rallies, the protective ATM long put also allows to aggressively shift the OTM short put closer to ATM.

ATM long put acts as both, a sword and shield.

This is my edge.

I Have shifted the sold call option leg from 77500ce to 77200ce

Current positions

This is the day end position.

Insights

By making these 3 adjustments to our BSE SENSEX weekly expiry trade,

73200 PE → 73500 PE,
73500 PE → 73700 PE,
77500 CE → 77200 CE,

we have enhanced our profit potential for this week's trade from 1.66% to 1.98% of deployed capital.

In favourable market conditions, like today's, these shifts help us steadily accumulate additional profit potential, which can later be used as a cushion to defend the position when the market turns violent.

If the market doesn’t turn violent, we simply get to keep the extra profit, and much more if our bought put option leg ends ITM at expiry.

🌍 Overnight Headlines | 20 May 2026

• US markets mixed, caution persists.
• Crude elevated, key risk monitor.
• Bond Yields elevated
• Little progress in the US-Iran war despite the US delaying attacks.
• Asia mixed, tracking weak global cues.
• GIFT Nifty signals a weak opening.
• Rupee near a record low.

Tail risk persists on both sides.
Don’t predict.
Market moves, we respond.