Thursday 23 April 2026. Sensex weekly expiry. Infosys Q4 post close. GIFT Nifty gapped down 180 points before the bell. Yesterday the bias was defensive. Today I am taking the other side of that.

Episode 25 is the pivot episode. The overnight gap just did the work of the sell rally for me. The chain now says the first hour and the second half are two completely different trades.

Pro flipped clean bear in one session. Futures flat. Calls 2 lakh sold. Puts 1 lakh 18000 bought. FII pressed deeper short. Futures minus 1 lakh 83000. Added 9000 shorts. Did not cover. Put book added 345946. Client did what Client does on a day like this. Longed 733000 calls into the fade. Shorted 519000 puts into the breakdown. Maximum wrong side exposure on both legs.

On the cash tape, first dual sell day in April. FII sold 2000 crore. DII sold 1050 c ...