Expiry days are brutal. This week was a reminder.
-₹68,000 at one point. Closed at +₹60,000.
Not posting this to flex. Posting because the pattern is worth understanding.
What helped:
→ 50% SL with averaging on high beta moves
→ Knowing my absolute max loss before entering re and walked away)
→ Capital deployed: ₹4L
I’ve closed trades at ₹2L loss too. That’s not failure - that’s the job.
Here’s what I’ve learned over time:
1. The 2–3 PM window is not normal trading
This is the most manipulated hour in Indian markets. Operators — large participants with significant OI exposure — actively move the market toward max pain. They need certain strikes to expire worthless. If you understand where max pain sits and which way the market needs to move to get there, you have a directional edge most people are ignoring.
2. Gamma is a weapon, not just a risk
On expiry day, ATM options have extreme gamma. A 50-point Nifty move in the last hour can multiply your option’s value 3–5x. The same move on a Monday does very little. That asymmetry is why expiry day buyers can make money even when theta is crushing them all day — if they time the directional move right.
🎥
