Home >> Profile >> Niranjan Ch
Joining Date: 04 Aug , 2010
Last Login: 02:47 AM - 27 Apr , 2018
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Short Britania around 3549-3553, tgt-3530, 3520,3510, SL-3565
again back to 23912, safe traders can book for target
so high made 23912, now cmp @ 23888
u got plenty of time to get, Risk & reward is yours
Buy Bosch 23850-60, tgt-23975,24050,24180, SL-23700
Those who traded could have made profit of 7500 per lot
Now 472.5 , safe traders can book profit here
High so far 473.5
Buy Titan 469-70, Target 475, SL 467.5
Costless Collar (Zero-Cost Collar)
|Costless Collar Construction
|Long 100 Shares
Sell 1 OTM LEAPS Call
Buy 1 ATM LEAPS Put
Costless collars can be established to fully protect existing long stock positions with little or no cost since the premium paid for the protective puts is offset by the premiums received for writing the covered calls.
Depending on the volatility of the underlying, the call strike can range from 30% to 70% out of money, enabling the writer of the call to still enjoy a limited profit should the stock price head north. This strategy is typically executed using LEAPS® options as the striking price of the call sold can be rather high in relation to the price of the underlying stock.
Costless Collar Payoff Diagram
Limited Profit Potential
Profit is limited by the sale of the LEAPS® call. Maximum profit is attained when the price of the underlying asset rallies above or equal to the strike price of the short call.
The formula for calculating maximum profit is given below:
- Max Profit = Strike Price of Short Call - Purchase Price of Underlying - Commissions Paid
- Max Profit Achieved When Price of Underlying >= Strike Price of Short Call
Suppose the stock XYZ is currently trading at $50 in June '06. An options trader holding on to 100 shares of XYZ wishes to protect his shares should the stock price take a dive. At the same time, he wants to hang on to the shares as he feels that they will appreciate in the next 6 to 12 months. He setups a costless collar by writing a one year JUL '07 60 LEAPS call for $5 while simultaneously using the proceeds from the call sale to buy a one year JUL '07 50 LEAPS put for $5.
If the stock price rally to $70 at expiration date, his maximum profit is capped as he is obliged to sell his shares at the strike price of $60. At 100 shares, his profit is $1000.
On the other hand, should the stock price plunge to $40 instead, his loss is zero since the protective put allows him to still sell his shares at $50.
However, should the stock price remain unchanged at $50, while his net loss is still zero, he would have 'lost' one year's worth of premiums of $500 that would have been collected if not for the protective put purchase.
Note: While we have covered the use of this strategy with reference to stock options, the costless collar is equally applicable using ETF options, index options as well as options on futures.
For ease of understanding, the calculations depicted in the above examples did not take into account commission charges as they are relatively small amounts (typically around $10 to $20) and varies across option brokerages.
However, for active traders, commissions can eat up a sizable portion of their profits in the long run. If you trade options actively, it is wise to look for a low commissions broker. Traders who trade large number of contracts in each trade should check out OptionsHouse.com as they offer a low fee of only $0.15 per contract (+$4.95 per trade).
By setting up the costless collar, a long term stockholder forgoes any profit should the stock price appreciates beyond the striking price of the call written. In return, however, maximum downside protection is assured. As such, it is a good options strategy to use especially for retirement accounts where capital preservation is paramount.
Many senior executives at publicly traded companies who have large positions in their company's stock utilize costless collars as a way to protect their personal wealth. By using the zero-cost collar strategy, an executive can insure the value of his/her stock for years without having to pay high premiums for the insurance of the put.
Source : http://www.theoptionsguide.com/costless-collar.aspx
Identify why you believe that you have an attachment problem. Were you once a strong adherent to a belief or, faith that you have since recanted? Do you still seek out a person who has either abandoned or stopped caring about you? Are there things in your life that you have allowed to define you? Or have you suffered a great personal tragedy or a loss?
Avoid forming unhealthy attachments. It is often best to take adopting new beliefs and friendships slowly. Do not waste all of your energy by throwing all of your emotions into a single person or new creed; investigate slowly to avoid disappointment.
Learn how to deal with certain attachment problems. Having attachment problems can hamper your progress in life. These need to be dealt with to ensure that renewal can occur and you can continue to grow. The following are some of the more common attachments that hold people back:
- Changed beliefs. Maybe at one point in your life you championed a cause or considered yourself an adherent of something that you now think on with displeasure or disdain. Previously held beliefs are just that; previously held. You should be focused on ensuring that your current beliefs are morally justifiable instead of expending wasted energy worrying about what you previously thought. If your old beliefs were especially hateful, you should attempt to redeem yourself by helping those that you hurt.
- Relationships with uncaring or toxic individuals. You should let them go. Realize that all of the feelings of mutual friendship or even love that you felt for this person were founded on shaky ground. This does not mean that you never had good times with this person, but it does mean that you should leave the entire situation alone until the other person realizes his or her wrongdoing. (Note: This does not apply todomestic abuse or abusive relationships. Seek protection, counseling and legal help for these situations.)
- Attachment to things. Many human beings have a tendency to allow our possessions to define us, and ultimately what we own can entrap us. If you cannot move for clutter, cannot change your lifestyle for fear of not being able to accommodate the treasures you've accumulated, it's time to detach yourself. Letting go of an attachment to things frees you up to live with purpose rather than falling back onto the imagined comfort of possessions.
- Personal tragedy or loss. You may have suffered a tragic experience in your life, and you may struggle with clinging on to the past or blaming yourself. Grief is a natural part of life, but it is not to be wallowed in. Remember that only one time truly exists, and that is the present. By clinging to the past, you let go of the present and never get to see the future. If you are not careful, it is easy to blame yourself or assume that you cannot go on. There are plenty of other people who need your encouragement and love, and just because it was too late to change your situation doesn't mean that you cannot help others in similar situations.
Stop fearing loss. Attachment to a job, particular people, possessions, or beliefs can mire us in the fear of losing these anchor-points in our life. When things do go wrong, as inevitably they will at times, our grief can stymie our growth and cause us to grind to a standstill. Accept the moment for what it is and believe that what you have now is enough. At the same time, be proactive to prevent yourself from being a sitting duck. Should things not be working out in a current situation, make plans to change your own part in the situation, such as sending out job applications, getting a makeover, or changing your study course, etc.
Your self-worth should come from within, not from what you perceive that others think of you. Attachment to others gets unhealthy when you're continuing to be around people who are toxic for you just because you're afraid of being alone or left out. By befriending yourself, you won't fear the times of being alone as much, and you will also open up to being available to a wider group of people rather than attaching to merely a few. And strive to maintain healthy relationships with the people you do interact with daily, giving one another breathing space and not expecting too much of others.
- Interact with new people and stay open to connections. While this shouldn't be about detaching yourself from one person just to immediately replace the former person with another, being open to the possibilities allows more people into your life and less potential to cling to them.
Stop living an illusion.
Although it still matters to strive for a better you, a better tomorrow, acceptance of what is now is vital to living in the moment, in order to avoid the illusion that your happiness or fulfillment relies on contingencies not yet realized. Don't attach yourself to hopes and dreams in a way that excuses fixing things that aren't working in your life right now. Accept things as they are now and work on what you'd like to improve on with calmness and centeredness.
- An obsession with the future is an attachment as much as is an obsession with the past. If your head is in the future, you're missing the now and how well you live right now makes all the difference for tomorrow's outcomes.
Learn to let go of an attachment to feelings. Fellings are powerful but if we let them control us, we are imprisoned by wayward masters. Accept that sometimes we will feel pain and loss, but we can choose to suffer endlessly or to learn and move on. Feelings are better out than in, so expressing them will help you deal with them more productively than bottling them up inside. Write in a journal, write poems, leave anonymous blog posts, write a letter and burn it, or talk to your invisible or even best trusted friend. Find outlets for your feelings so that they don't serve as unhealthy attachments.
After you have helped yourself, tell others about how you live. Letting others gain your trust and going slowly in adopting new beliefs is the most practical non-attachment philosophy that you can practice, and you do not have to be a hermit to do it. Teaching others about non-attachment can be helpful no matter what their situation or beliefs. You can talk about it with people, write blogs, tweet; just keep open about your experience so that others can learn too.
Understand that all things must come and go.
10 Life-Changing Facts
1. Attachments to people prevent us from examining ourselves. Clinging to someone in a relationship often masks an underlying sense of lack or unworthiness that can benefit from your loving exploration. Are you willing to take the focus off the other to see what thoughts and feelings are driving you?
2. Attachments to identities keep us stuck. Are you aware of any habitual ways in which you react emotionally? See if you can pinpoint the identity you hold about yourself. Maybe it doesn’t serve you anymore, and you can give yourself the freedom to respond with greater wisdom and awareness.
3. What often underlies attachment is a fear of not being in control. Can you befriend the unknown and receive things as they happen?
4. The root of many relationship problems is that people are attached to what others should say or do. Recognize when someone is attached to how you should be. Rather than resisting and creating conflict, stay grounded in yourself. Feel compassion for the other’s fear and confusion.
5. Attachment to possessions or money is all about fear. Have as many possessions as you want, but don’t stake your happiness on them. Do your possessions define you? Deeply contemplate losing them all, and realize that you don’t really own anything.
6. Attachment to wanting what you don’t have leads to interminable unhappiness. Can you shift your orientation to appreciate what is already here?
7. Being attached to your needs makes you a victim of circumstances. Do you really need what you think you need? Maybe you are stronger and more whole than you think.
8. Not being attached brings relaxation and ease. You no longer worry about losing what you have. This doesn’t mean that you aren’t excited about having something or sad about its loss. But your underlying peace is not disturbed.
9. Attachment to beliefs and ideas is like living in a small space with many walls. Everywhere you turn, you bump into one. Can you let yourself be vulnerable and open by abandoning your treasured beliefs?
10. When all attachments fall away, what remains is reality. When we see things without the veil of our attachments, we realize life – delicious, pure, luminous, and true.
What have you discovered about your attachments? What happens when you let them go? I’d love to hear…
The Zen Habits Guide to Letting Go of Attachments
I’ve been finding more and more that the Buddha had it right: pretty much all of our struggles, from frustrations to anxiety, from anger to sadness, from grief to worry, all stem from the same thing …
The struggles come from being too tightly attached to something.
When we’re worried, we are tightly attached to how we want things to be, rather than relaxing into accepting whatever might happen when we put forth our best effort. When we’re frustrated with someone, it’s because we’re attached to how we want them to be, rather than accepting them as the wonderful flawed human they are. When we procrastinate, we are attached to things being easy and comfortable (like distractions) rather than accepting that to do something important, we have to push into discomfort. And so on.
OK, if you’re ready to accept that being too attached, clinging too tightly, is the cause of our struggles … then the answer is simple, right? Just loosen the attachments. Just let go.
Easier said than done. Any of us who have tried to let go of attachments knows that it’s not so easy in practice. When our minds are clinging tightly, we don’t want to let go. We really, really want things our way.
So what’s the answer, then? In this short guide, we’ll look at a few practices to help with this.
Letting Go Practices
We can help dissolve these attachments with a few different practices:
Meditation. Meditation is simply sitting still and trying to pay attention to the present moment — whether that’s your breath, your body, or what’s around you right now. What you’ll find is that your mind runs away from the present moment, attaching to worries about the future, planning, remembering things in the past. In meditation, you practice letting go of these mini attachments, by noticing what your mind is doing and letting go, returning to the present moment. This happens again and again, and so you get good at it. It’s like muscle memory after doing it hundreds, thousands of times. You learn that whatever you were attached to is simply a story, a narrative, a dream. It’s not so heavy, just a bit of cloud that can be blown away by a breeze.
Compassion. In this meditation, you wish for an end to your suffering, or an end to the suffering of others. What happens is that this wish transforms you from being stuck in your attachment, to finding a warm heart to melt the attachment and find a way to ease it. You become bigger than your story, when you wish for your own suffering to end. And when you wish for others’ suffering to end, you connect yourself to them, see that your suffering is the same as theirs, understand that you’re in this together. What happens is that your attachments and story become less important, not such a big deal, as you connect with others in this way.
Interdependence. Try meditating not only on the wish for the suffering of others (and yourself) to end, but for others to be happy. All others, whether you like them or not. Again, through doing this, you start to see that you’re all connected in your suffering, and in your desire to be happy. You are not so separate from them. You’re not separate, but interdependence. This connection with others helps you to be less attached and more at ease with life.
Accepting. At the heart of things, attachment is about not wanting things to be the way they are. You want something different. That’s because there’s something about the present moment, about the person in front of you, about yourself, that you don’t like. By meditating, practicing compassion and interdependence, you can start to trust that things are OK just as they are. They might not be “ideal,” but they are just fine. Beautiful even. And you start to become more aware of your continual rejection of the present moment, and open up to the actuality of this moment instead. Over and over, this is the practice, opening and investigating the moment with curiosity, accepting it as it is.
Expansiveness. All of these practices result in a more expansive mind, that is not so narrowly focused on its little story of how things should be, not so focused on its small desires and aversions, but can see those as part of a bigger picture. The mind can hold these little desires, and much more. It’s a wide open space, like a deep blue ocean or dreamy blue sky, and the little attachments are just a part of it, but it can also see the suffering of others and their attachments, it can see the present moment in all its flawed glorious beauty, and be present with all of this at once. Practice this expansiveness right now.
The Zen Habits Method
The way to deal with attachments isn’t simple, and it takes practice.
Meditate daily, focusing on the breath for a couple of minutes every morning. See your suffering and your story and attachments, as you meditate. See this after meditation as well.
After a few weeks, add compassion meditation. Wish for your suffering to end, then expand it to others in your life, then to all living beings.
Learn to see your interconnectedness with others, and practice acceptance of the present moment exactly as it is, in little doses. Small steps. Practice expanding your mind to include these things and all other things in the present moment.
Then, when a difficult attachment arises in your daily life, see the suffering, see the attachment, and expand your mind beyond it, giving yourself compassion while seeing that you are bigger than this attachment. Let it be there like a little cloud, floating around in the wide expanse of your mind, and then lightly let it float away, rather than sinking yourself into it.
With practice, this method can result in contentment with the present, awesome relationships, and less procrastination and distraction.
What Does Non-Attachment Really Mean?
Non-attachment doesn’t mean being cold as a stone. Emotions don’t cease to exist as you learn to let go. You just relate to them differently because you understand their ephemeral nature. And that, thank goodness, means there’s a lot less to get riled up about.
For example, even great spiritual teachers:
They may have moments when impatience or frustration arises, too. They’re ultra human, and not indifferent in the least.
But, they don’t entangle themselves in these emotional states by firing up aversion for the “negative” or wanting to extend the “positive.” They allow emotions to rise and dissolve. They don’t feed emotions, fuel drama, or express distress by engaging in knock-on negative behaviors. They have perspective.
This takes considerable practice, but virtually everyone has the power to tame their mind through cultivating mindfulness and awareness.
The Beauty of Non-Attachment
When you understand the true meaning of non-attachment:
- Expectations no longer rule your life.
- Emotions arise, but you have space. You have perspective. Emotions don’t catch and torment you every time.
- You relate to the world as it is rather than to your concepts about it, which never bring lasting happiness.
- You have a clarity of mind so you’re able to see through to the truth of things.
- You’re not bothered by much, but that doesn’t mean you tolerate harmful behavior.
- The problems of this world evoke compassion rather than anger.
- You don’t chase after happiness. You just enjoy it when it’s present, and release it when it dissolves.
- You’re able to allow life to unfold without needing to control everything.
- You don’t stop loving. You love even more.
- Your heart only grows bigger and bigger and bigger, when you see all the unnecessary suffering in this world.
- You feel naturally compelled to help, but you’re not attached to the outcome.
- The sense of spaciousness and freedom you feel bring a genuine contentment that can never be found in temporary experiences.
You are free because you’re in charge of your mind and emotions instead of them bossing you around. And, with this freedom, you can taste the distinct flavor of every experience with no need to squeeze it tightly to your chest.
The principle of nonattachment is key to understanding and practicing Buddhist religious philosophy, but like so many concepts in Buddhism, it can confuse and even discourage many newcomers to the philosophy.
Such a reaction is common to people, especially from the West, as they begin to explore Buddhism. If this philosophy that is supposed to be about joy, they wonder, why does it spend so much time saying that life in inherently full of suffering , that nonattachment is a goal, and that a recognition of emptiness (shunyata) is a step toward enlightenment?
All those things sound discouraging, even depressing at first glance.
But Buddhism is indeed a philosophy of joy, and the confusion among newcomers is partly because the words from the Sanskrit language do not have exact translations in English, and partly because the personal frame of reference for Westerners is much, much different than that of Eastern cultures.
So let’s explore the concept of non-attachment as used in Buddhist philosophy. To understand it, though, you’ll need to understand its place within the overall structure of basic Buddhist philosophy and practice. The basic premises of Buddhism are known as the Four Noble Truths
THE BASICS OF BUDDHISM
The First Noble Truth: Life is “Suffering.”
The Buddha taught that life as we currently know is full of suffering, the closest English translation of the word dukkha. The word has many connotations, including “unsatisfactoriness,” which is perhaps the translation that might be better suited.
So to say that life is suffering means, really, that there is a vague feeling that things are not entirely satisfactory, not quite right. A recognition of this vague dissatisfaction and suffering is what constitutes what Buddhism called the First Noble Truth.
It is possible to know the reason for this “suffering” or dissatisfaction, though, and it comes from three sources.
First, we are dissatisfied because we don’t really understand the true nature of things. This confusion is most often translated as ignorance, or avidya, and its principle feature is that we aren’t aware of the interconnectedness of all things. We imagine, for example, that there is a “self” or “I” that exists independently and separately from all other phenomenon. This is perhaps the central misconception identified by Buddhism, and it leads to the next two reasons for dukkha, or suffering.
The Second Noble Truth: Here Are the Reasons for Our Suffering
Our reaction to this misunderstanding about our separateness in the world leads to either attachment/grasping/clinging on the one hand, or aversion/hatred on the other hand. It’s important to know that the Sankrit word for the first concept, Upadana, does not have an exact translation in English; its literal meaning is “fuel,” though it is often translated to mean “attachment.” Similarly, the Sanskrit word for aversion/hatred, devesha, also does not have a literal English translation. Together, these three problems—ignorance, clinging/attachment and aversion—are known as the Three Poisons, and a recognition of them forms the Second Noble Truth.
Now, perhaps, you can begin to see where non-attachment may come into the picture, since we will later see that it is an antidote to one of the Three Poisons.
The Third Noble Truth: It Is Possible to End the Suffering
The Buddha also taught that it is possible NOT to suffer. This is central to the joyful optimism of Buddhism—the recognition that a cessation to dukkha is possible. The essence of this cessation is nothing more than to relinquish the delusion and ignorance that fuel both the attachment/clinging and the aversion/hatred that makes life so unsatisfying. The cessation of that suffering has a name that is quite well known to almost everyone:Nirvana .
The Fourth Noble Truth: Here Is the Path to Ending the Suffering
Finally, the Buddha taught a series of practical rules and methods for moving from a condition of ignorance/attachment/aversion (dukkha) to a permanent state of joy/satisfaction (nirvana).
Among those methods is the famous Eight-Fold Path , a set of practical advisory recommendations for living, designed to move practitioners along the route to nirvana.
THE PRINCIPLE OF NON-ATTACHMENT
Non-attachment, then, is really an antidote to the attachment/clinging problem described in the Second Noble Truth. For if attachment/clinging is a condition of finding life unsatisfactory, it stands to reason that nonattachment is a condition conducive to satisfaction with life, a condition of nirvana.
It is important to note, though, that the advice is not to detach or unattach from people in your life or from your experiences, but rather to simply recognize the non-attachment that is inherent to begin with. This is a rather key difference between Buddhist and other religious philosophies. While other religions seek to achieve some state of grace through hard work and active repudiation, Buddhism teaches that we are inherently joyful and that it is really a matter of simply surrendering and relinquishing our misguided habits and preconceptions that will allow us to experience the essential Buddahood that is within us all.
When we simply relax the illusion that we have a “self” that exists separately and independently from other people and phenomenon, we suddenly recognize that there is no need to detach or unattach, because we have always been interconnected with all things at all times. Much the way it is an illusion to call the various oceans separate bodies of water when in fact they are part of one large ocean, it is similarly an illusion to imagine that we exist in a distinct separateness from the rest of the world.
Zen teacher John Daido Loori said,
"[A]ccording to the Buddhist point of view, non-attachment is exactly the opposite of separation. You need two things in order to have attachment: the thing you’re attaching to, and the person who’s attaching. In non-attachment, on the other hand, there’s unity. There’s unity because there’s nothing to attach to. If you have unified with the whole universe, there’s nothing outside of you, so the notion of attachment becomes absurd. Who will attach to what?"
To live in non-attachment means that we recognize there was never anything to attach or cling to in the first place. And for those who can truly recognize this, it is indeed a position of joyfulness.
|Messages Posted by Niranjan Ch|
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