Kunal Tandon

Building toward financial freedom.
Quant Trading • AI • Investing 📈

[Kunal Tandon @kkunal_Tandon]

📊 Trading Update | Oct 2025 → Jul 2026
Started with ₹10,00,000 in October 2025.

Current portfolio:

• ₹16,78,119
• Net Profit: ₹6,78,119
• Overall Return: +67.8%
• July Return: +9.6%

No shortcuts. Just defined-risk options trading, backtesting, disciplined risk management, and continuous learning.
Sharing the charts for full context.
Still learning. 📈

[Kunal Tandon @kkunal_Tandon]

@kaps_chartist My 2 cents on thia for all

https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

@NovaSky_47 @SarangSood Great. Tell me which point is incorrect and why. Happy to discuss the mechanics.

[LeoNifty @Leo04G]

🫰Option Sellers diverting overall market infra change into a petty straddle/strangle selling issue

👍Good take by @kkunal_Tandon
Pricing will evolve
🆘The call for a ban will not work
Arguments seems weak, mostly fueled by platform they are promoting
#fintwit #India #nifty

[Kunal Tandon @kkunal_Tandon]

@SarangSood The fact is it is here to stay and we need to deal with it .

I way is to crib
Another is to adapt.

[Kunal Tandon @kkunal_Tandon]

@SarangSood Bhai etfs need a price where they close each day and rebalance. Vwap price is just a number not a tradable price and it leads to tracking errors.

So for etfs they need a closing auction to execute huge qty at a unique price ( 1 price)

That’s why this CAS .

[Kunal Tandon @kkunal_Tandon]

Lower bands are possible, but the priority is ensuring price discovery and a successful settlement. You don’t want ETFs/MFs unable to rebalance because the auction failed. Order modifications before the freeze are also necessary; after the freeze, restrictions are already much tighter.

[Kunal Tandon @kkunal_Tandon]

@SKantekar It’s still an option. The only difference is that expiry now includes a discrete CAS jump instead of continuous trading till the close.

The market will adapt by pricing that auction risk. If your model doesn’t, booking before 3:15 is probably the safer approach.

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

Umm
1) if they don’t settle together then CAS spikes would be even more and it would become more illiquid. ( no incentive to capture spot to cas premium)

2) US has CAS as a parllel to regular market. Most other close with CAS or similar process.

3) Most markets have been doing this for long and we will also adapt to it here . Arb opportunities can’t stay forever.

[Kunal Tandon @kkunal_Tandon]

@vtchakarova Yes I agree .
But i was told jig is up if it’s closed for 3 months .

Here we are almost 6 months from start of the war and it’s still to show up meaningfully.

[Kunal Tandon @kkunal_Tandon]

@saurabh_gunjal_ As it should be brother as it should be 🤓🤓

[Kunal Tandon @kkunal_Tandon]

@AshwinBadri2 My 2 cents on this CAS madness from prospective of SEBi and others

https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

@AshishGupta325 Bro my 2 cents on it

https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

@Lionheartedtrde Yes bro

[Kunal Tandon @kkunal_Tandon]

Like i have been saying effected big straddle sellers can buy all 50 stocks or most heavyweights.

And provide exit liquidity in CAS to etf funds with those stocks and make a profit.

In process save their livelihood as well .

[Varsity @ZerodhaVarsity]

CAS was introduced to solve a pricing problem. It has revealed a participation problem.

Proprietary traders are ~40% of cash market turnover, and most of it is intraday, closed out before 3:15 PM.

Since selling into the auction largely requires already owning the stock, the day's largest source of liquidity has little or nothing to sell.

[Kunal Tandon @kkunal_Tandon]

@ZerodhaVarsity My 2 cents on this https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

@PRAFULKULKARN18 Umm my 2 cents on this

https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

@khanzubare Haha my 2 cents on this 😅

https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

@saurabh_gunjal_ Noo it’s a headging instrument 😅 officially .
My 2 cents on this

https://t.co/EBQQ7TVLAz

[Kunal Tandon @kkunal_Tandon]

I think the debate around CAS is heading in the wrong direction.

Too much of the discussion has become about the profitability or livelihood of straddle sellers.

That’s the wrong lens. 1/n 🧵 🪡

[Kunal Tandon @kkunal_Tandon]

Markets always adapt. But adaptation isn’t free. The debate should be about whether the new equilibrium improves or worsens overall market efficiency. 9/n

[Kunal Tandon @kkunal_Tandon]

Markets adapt. Liquidity providers will adapt too—whether through cash hedges, different execution strategies, or wider pricing.

The question isn’t whether adaptation is possible.

The question is what is the cost of that adaptation, and who ultimately bears it? 8/n