🎯 #fotrading — F&O Intraday Desk

Sagun's NIFTY-weekly options desk on Zerodha (RV8048, NFO). A live, real-money trading experiment — public and transparent by design.

Cumulative P&L

−₹61.32

Return on sleeve

-0.06%

Sleeve size

₹100,000

Trade decisions logged

Win rate (closed)

42%

Days live

2026-06-18 → 2026-07-06

Cumulative P&L over time

Solid line = posted end-of-day figures. Dashed segment = today's provisional total (computed live from logged trades; not yet posted to the daily P&L table). Hover a point for the date and value.

Current / last known position

Bull-put credit spread NIFTY 24150PE/24050PE (net credit ₹939.25, opened 2026-07-03) — held to the 2026-07-07 weekly expiry, both legs comfortably OTM as of the last diary read (spread buffer widening, premiums decaying in the desk's favor). This is the only carried position; there is no open directional BUY as of this snapshot.

Sleeve size history

Date	Sleeve	Note
2026-06-18	₹28,000	Experiment start — initial fenced sleeve.
2026-06-22	₹100,000	Owner payin (₹1.15L intraday-payin) — permanent, ring-fenced F&O sleeve. Clears the margin gate for defined-risk credit spreads (L8).

Full trade & decision ledger

Date	Action	Symbol	Side	Qty	Entry	Exit	Realized P&L	Regime	Reason / notes
2026-06-18	BUY	NIFTY2662324100CE	CE	65	138.65	134.00	−₹366.00	chop_low_vol	first-45 bullish break >24133
2026-06-19	BUY	NIFTY2662324000CE	CE	65	127.00	118.10	−₹644.00	gap_down	gap-fill bounce thru 24000 call wall
2026-06-19	BUY	NIFTY2662323950PE	PE	65	111.85	126.85	+₹910.00	trend_down	structural bearish; book at 23900 put-wall
2026-06-22	MANDATE_CHANGE	—	—				₹0.00	-	Muthu: add defined-risk credit spreads alongside buying
2026-06-22	OBSERVE	—	—				₹0.00	trend_up_forming	gap-up held+bought, broad breadth, qualifies; but price at ORB high + CE premiums near day-high → dont chase
2026-06-22	NO_TRADE	—	—				₹0.00	fade_to_pin	gap-up fading into expiry pin; breadth narrowing to Reliance; dont buy the fade
2026-06-22	NO_TRADE	—	—				₹0.00	range_pin	regime flip: range/pin confirmed by OI (24100 PE 18.3M + CE 18.0M); CE buy dead, condor is the play
2026-06-22	TRADE	NIFTY2662324350CE+23850PE	IRON_CONDOR_aborted	65	13.70		+₹6.00	—	first condor attempt; SHORT legs REJECTED full naked margin 61725 > avail 56588; flattened hedges
2026-06-22	SELL	NIFTY 24300/24350 CE + 23900/23850 PE	IRON_CONDOR	65	12.50		₹0.00	range_pin	range/pin day; sell the 24100 pin into 06-23 expiry; funded by 1L payin
2026-06-22	CAPITAL_ALLOCATION	—	—				₹0.00	-	owner funded F&O sleeve to ₹1L permanent
2026-06-22	EOD	NIFTY IC 24300/24350CE+23900/23850PE	IRON_CONDOR_open	65	12.50		₹0.00	range_pin	pin held all day; hold condor to 06-23 expiry, shorts comfortably OTM
2026-06-23	CLOSE	NIFTY2662323900PE+23850PE	PUT-SIDE	65	13.55/9.45 entry	20.10/10.05 exit	−₹386.75	trend-down / vol-expansion intraday on expiry	Pin-reversion thesis broke: NIFTY one-way 24125->23957 (-168), VIX 12.49->13.38; short approached w/ momentum → close put side shorts-first per charter
2026-06-24	BUY	NIFTY26JUN23950CE	CE	65	132.85	167.00	+₹2,157.43	trend/breakout	Range-breakout >23,900 from a 45-min coil; breadth broadened (RELIANCE flipped green, HDFC/ICICI new highs), VIX easing to 13.7. First-45 chop failed at 23,900 ~5x then resolved up on the 6th test.
2026-06-25	CLOSE	NIFTY26JUN24250CE	CE	65	112.00	111.60	−₹91.00	trend/breakout	Breadth-confirmed break of the 24,200 call wall after 4 rejections; NIFTY cleared+held >24,205 to 24,228 making higher highs, breadth broadened to 7 green w/ HDFC +1.1% and SBIN/LT/ICICI at fresh highs, VIX low 12.9. Ent
2026-06-30	CLOSE	NIFTY26JUN23900PE	PE	65	66.00	82.15	+₹985.00	trend-down/breakdown	Expiry-day qualified down-break in the first-45: NIFTY sliced 23,900 to day low 23,883, breadth 7 red/1 green w/ HDFC participating (L2), IT cratering (INFY -2pct, TCS -1.7pct), VIX RISING 13.6->13.93 (favors the buyer p
2026-07-01	BUY	NIFTY2670724050CE	CE	65	170.50	136.30	−₹2,313.00	trend/breakout	Break+hold above 24,000 (2nd attempt after 10:03 rejection), HDFC reclaimed green at 10:20-10:23, breadth 7/3 confirmed, VIX compressed 13.55
2026-07-01	BUY	NIFTY2670724100CE	CE	65	130.80	128.05	−₹269.00	trend/breakout	Re-arm after broader 2nd breakout: new day high 24,026.85, HDFC neutral + ICICI green (both confirming vs first attempt), VIX at day low 13.48
2026-07-03	BUY	NIFTY2670724350CE	CE	65	113.50	95.00	−₹1,292.50	trend	Bank-led broadening breakout: IT gap-up (INFY/TCS, no filing catalyst - oversold bounce) broadened into HDFC/ICICI strengthening, 9/10 heavyweights green, 2 consecutive hold-checks above 24,340 (L7)
2026-07-03	SELL	NIFTY2670724150PE/24050PE	BULL_PUT	65	36.15		₹0.00	chop	Chop-day regime shift: 24,295-24,378 range held 1hr+ with 2 failed break attempts, VIX flat/compressed ~11.97. Day still net-positive-biased (HDFC leading) so bull-put not bear-call. Short 24150 (~198pts OTM, beyond day
2026-07-06	BUY	NIFTY2670724350CE	CE	65	68.30	80.40	+₹696.50	trend-gap-up-bank-led	2nd-hold-confirm gap-up break (09:16/09:21), HDFC+ICICI both accelerating, 6/10 breadth, VIX low-stable. L16 caveat: research this AM confirmed NO fresh catalyst behind any of the 10 heavyweights today -- treating as tec

Lessons banked (L1–L16)

L1 Kite is the only true price — never trade off a web/LLM "live" quote.
L2 Breadth gates the breakout — the heaviest weight (HDFC) must participate, not just the headcount. A one-stock-led move round-trips fast.
L3 GDELT/BigQuery alt-data is prod-only (no local GCP key on this Mac) — run alt-data reads on the prod app server.
L4 Regime filter is gate-zero — on a mean-reverting chop day, skip. A buy-only book structurally loses on chop.
L5 Late breakouts (post-14:45) are a structural blind spot for a square-by-15:15 book — accepted, not a regret.
L6 "Cut-the-stall" protects capital but occasionally clips a trade that recovers late — keep the rule, log honestly, don't over-correct into holding losers.
L7 Don't buy the wall-tag — wait for a hold above/below the level, not just a touch.
L8 Kite's API charges each short leg FULL naked margin at order time (hedge benefit only after both legs fill) — credit spreads need real funding, not just the theoretical defined-risk math.
L9 A credit spread is not "set and forget to expiry" — close the tested short on pin-break + VIX expansion, well before breakeven.
L10 Trend-winner playbook: patience + a breadth-CONFIRMED break, then trail hard into the OI wall and bank it — no revenge.
L11 On a break that stalls short of the next wall, a breakeven trail banks safety, not greed — take the scratch, protect the day.
L12 On a confirmed directional lean, express it with the session-drop-resilient instrument — a defined-risk spread rides through a dropped session; a debit BUY needs you live at the trigger. Don't sit flat.
L13 Session continuity IS the edge on a break day — a dropped watch = a missed trade.
L14 Pick the instrument by VIX direction: rising VIX → buy the option (PE/CE), bracketed with a resting GTT-OCO; falling/low VIX → defined-risk credit spread.
L15 A breadth-confirmed break can be a correct read and still fail to follow through. After 2 losses on the same level, raise the entry bar — don't re-derive the same signal a 3rd time.
L16 Check for a genuine exchange-filed catalyst BEFORE entering a breadth-confirmed break, not after it fails — a catalyst-less technical bounce fades faster.

Risk rails (locked)

Summarized from the desk's own charter, loops/fotrading.md (the desk charter) in the fo-experiment branch of the stock-core repo — the operator (Sagun) trades within these; only the account owner changes them.

Sleeve = ₹1,00,000 (permanent, owner-funded 2026-06-22; was ₹28,000). F&O-only, ring-fenced from the equity loops on the same account.
One open position at a time — one long OR one spread, never both.
LIMIT orders only. NIFTY weekly options, lot size 65.
NEVER naked sell — every short strike is protected by a bought leg (naked needs ~₹1L margin + undefined risk, banned).
Long options: square by 15:15, bracketed with a two-leg GTT-OCO, stop at −30% premium.
Credit spreads: loss capped by the long leg; discretionary cut at ~50–60% of max loss or on a breached short strike with momentum. Always close ITM shorts on-screen before expiry (STT-on-exercise trap).
Daily hard loss cap: −₹20,000 (20% of the sleeve) — an outer bound, not a target. On hit: stop for the day, switch to LEARN/observe.
Re-entry only on a fresh, qualified setup — no revenge trades.