Expiry Day Firefighting Strategies on Nifty50
This book is dedicated to all option traders who plan, test & trade on Nifty50, BankNifty, or FinNifty indices. We will discuss some safe positional strategies like the iron condor, credit/debit spreads that come with a defined max profit & max loss.
We will also discuss and evaluate how to handle the max loss via firefighting strategies (mostly intraday) so that on a weekly basis we either
· Close the positional trades in profit
· Reduce our losses even below the defined max-loss.
This handbook will be 100% beneficial if you are starting your options trading career. We will bust some myths about stock market trading & present the actual facts so that you have an impartial view of what is happening with the largest derivative exchange in the world.
If you are already trading, most of these strategies outlined might be familiar to you, and you would have deployed them in your trading journey. Have an open mind and try to re-learn these the right way so that you know which strategy to pick based on the market conditions.
Options trading in itself is risky due to 2 major factors
· Leverage
· Time limit
Leverage is when you take or commit more money than you have to take a trade. Most often the trader is ignorant of the leverage he has taken and the damage it could inflict. The time limit is because every option instrument has an expiry date — so the trade taken has to work within the allotted date & time. The only way to control these 2 elements of risk is to educate yourselves with the right knowledge and then validate it with small positions or paper trading.
My job here would be to walk you through the strategies available and present a base case on how & when they should be applied. This book has to be taken with an educational interest and if you are planning to take trades — it should be done with your full 100% consciousness. As a standard disclaimer, the author or publisher will not be responsible for any monetary, capital, or resource losses that may arise.
There are many reasons a trader could run into losses, most of them beyond their control like a technical glitch in the broker, connectivity issues with an exchange, software issues, etc. It is best recommended to select a broker that has a higher percentage uptime or a policy that will get you a refund if you run into losses for things beyond your control.
Now there are losses that could happen due to ignorance or lack of knowledge by the trader. I hope this book will give you basic knowledge about options trading & open the roadmap for further learning. I also hope you are ready to embark on a tough journey wherein only 5% of people survive and just 1% end up rich.
Most of the strategies used in this book are tested and deployed by me during my trading journey. That doesn’t mean you should take it for granted and start using it from tomorrow. I strongly recommend you to back-test or paper trade and jump in only when you are 100% confident.
And do take some action only after the last chapter “Fighting Fire with Fire” is read — because the most important virtue you require in this profession is awareness of the RISK.
Happy reading!
You can read the Kindle edition of this book at
and paperback edition at