Disclaimer: I am not associated with any trading platform. Images
shown are not affiliated or endorsed by any company. I am not
promoting any product or service. I share my Profit and Loss
screenshots to remove the negativity around options trading. I believe
the options market, especially short options, is used to manage risk
if applied correctly. I am not selling any course. This post is purely
for educational purposes and based on personal experience and
opinions. Always consult a SEBI-registered advisor before investing.

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 Opening Commentary: Choppy Expiry Day Ends in the Red

Nifty opened slightly positive at 25,230, made a high of 25,238, low
of 25,101, and finally closed at 25,111, down nearly 100 points
(-0.40%). Volatility was visible as India VIX kept fluctuating
throughout the session.

 My Trade Experience (Learning Insight)

I started the morning session in profit. However, due to my limit
order not getting executed on time and a sudden fall in the last hour,
I had to hedge quickly. Though I adjusted positions, I couldn’t come
out in profit and finally booked a loss of Rs. 1,000. This is a
classic example of how a green day can turn red without proper
execution and reaction.

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Yesterday’s Prediction (16 July Blog Recap)

I had clearly mentioned to mark the high and low of 15 July’s 10:15 AM
hourly candle. Today’s price action validated that:

Nifty touched the high of that candle (25,454.20) and rejected from there.

It also closed near the low of that candle (25,100.80).

This confirms that the market is still trading within the range of
that important candle. Until this range breaks, we remain in
non-trending/sideways territory.

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 Chapter 1: Opening Zone Overview

Opening: 25,230

High: 25,238

Low: 25,101

Close: 25,111

VIX: Fluctuating heavily throughout the session

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Chapter 2: Intraday Price & Delta Analysis

Nifty opened positively but with negative delta of 16.43% and clear
negative imbalances.

Market attempted to stay up but faced strong resistance and could not
cross 14 July Volume POC.

A classic tug of war between bulls and bears was observed between
10:00 AM – 11:30 AM.

At 10:45 AM, buying interest was seen through delta divergence but
still couldn’t break yesterday’s POC convincingly.

The market started moving up and down without strength, confusing
buyers and resulting in theta decay.

Post-2 PM, Nifty fell 81 points, confirming bears had the upper hand today.

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 Chapter 3: Option Chain & Max Pain Analysis

Max Pain: 25,150 (same as Nifty close)

PCR (Put Call Ratio): 0.85 – indicates bearish bias

Call OI highest at 25,200

Put OI highest at 25,000

VIX decreased by 2%, indicating calmness near support zones

What is Max Pain? Max Pain is the price at which the largest number of
options (both calls and puts) expire worthless. It is a level where
option sellers (writers) make the most profit. For expiry traders,
it’s a key area to monitor.

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 Chapter 4: Seller Wins the Expiry Day

Expiry day traders with short positions, especially:

Short Straddle at 25,150

Short Strangle at 25,000 PE and 25,400 CE

Made good profits due to theta decay and sideways price action.

Market closing near max pain is a strong signal that sellers dominated the day.

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 Chapter 5: Key Support & Resistance

Resistance: 25,250

Support: 25,100

If Nifty trades between 25,100–25,250, expect more non-directional
moves and range-bound option strategies like short straddles/strangles
to work. A breakout/breakdown outside this range may trigger the next
trending move.

Bonus Technical Tip

Go to your Nifty hourly chart, mark 15 July 10:15 AM candle:

High: 25,454.20

Low: 25,100.80 Until Nifty breaks out of this candle’s range, it will
continue to remain sideways.

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 Chapter 6: Sectoral Overview

Gainers: Metal stocks led the day (possible bargain buying)

Losers: Technology sector dragged the index

Overall: All major indices closed in the red

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 Chapter 7: Global Market Update & Strategic View

US Stock Futures: Slightly positive (S&P500 and Nasdaq +0.1%)

Dow Futures: Flat

Trump Comments: Denied planning to fire Jerome Powell, which calmed
earlier volatility

India-Russia Oil Trade: India dismissed supply threat from U.S.
sanctions on Russian oil. Petroleum minister said “We’ll deal with
it.”

Strategic Insight for Traders & Investors:

Keep watching Gift Nifty and US market futures before market open

Avoid aggressive longs until volatility stabilizes

Monitor export-focused companies that may benefit if EU moves away
from US products

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Final Thoughts (Educational Purpose Only)

This blog is for educational use only. I’m not SEBI registered. The
securities market is risky. Always consult a professional financial
advisor before investing or trading.