Extreme Swings, Operator Whispers, and a ₹65 Lakh Loss Mark a Traumatic Trading Day
Mumbai: Futures and Options (F&O) traders in the Indian stock market faced a brutal session on Wednesday, characterized by extreme volatility and sharp, unpredictable swings in the benchmark Nifty 50 index. The day’s price action was a nightmare for most derivative participants, leading to significant capital erosion and renewed allegations of “operator manipulation” in the market.
The Nifty’s movement was anything but smooth. It started the day at 25,095, immediately climbing to a high of 25,192. This upward momentum was short-lived, as the index then crashed to a low of 25,009, only to rapidly rebound before crashing down once more. This relentless ‘whipsaw’ action, where the market reverses direction repeatedly and sharply, left directional traders and option sellers alike deeply wounded.
Allegations of Market Manipulation
For many traders, the day’s pattern was not attributable to typical market fundamentals. Trader Harish Sharma (), who reported a staggering loss of ₹65 Lakh (representing of his trading capital) expressed his frustration, pointing the finger at manipulative forces.
“Only operator can make money in these markets,” Sharma said. “Butchered badly. Operator manipulation at full swing with little decay and premium, and speculation through increasing and decreasing synthetic 50 points here and there. Nothing worked yesterday and today.” He also cryptically mentioned, “Jane has changed its strategy,” hinting at a significant, unexplained shift in market dynamics or a major participant’s tactics.
The sentiment among professional traders highlights a growing concern that such hyper-volatility, combined with low options premium decay, suggests sophisticated forces are deliberately creating chaos to trap retail and professional F&O traders.
Only operator can make money in these markets
Butchered badly
Operator manipulation at full swing with little decay and premium, and speculation through increasing and decreasing synthetic 50pts here and there
Nothing worked yesterday and todayJane has changed its strategy pic.twitter.com/5x0S2q3fxZ
— Harish Sharma (@hsvashistha16) October 8, 2025
From ₹52 Lakh Loss to a ‘Green Day’: A Rare Salvage Operation
While many traders suffered severe losses, a rare tale of survival came from trader Akshay Bansal (), who managed to turn a perilous situation into a profitable one by abandoning his established trading rules.
Bansal described the day as a “Wilddd ride today,” and reported coming close to a massive loss of ₹52 Lakh before successfully salvaging his position. He credited two “critical decisions” for his turnaround:
- “Kept shorting PEs in the downmove all the way till the end.” This aggressive bet on further downside proved critical in the final hours of the session.
- “Decided to not book losses and ride the unmove.” This high-risk strategy, essentially holding onto a losing position and hoping for a reversal, paid off against the odds in a market that gave him a second chance.
Bansal’s remarkable swing from to a profit underscores the extreme risk and reward inherent in F&O trading during such volatile periods. “I guess sometimes, just sometimes we have to break rules,” he concluded, a sentiment that might resonate with surviving traders but is generally anathema to risk management principles.
Wilddd ride today.
Somehow made 2 critical decisions which led whatever happened today .
1. Kept shorting PEs ine downmove all the way till the end.
2. Decided to not book losses and ride the unmove.
Hence, achieved a green day. I guess sometimes, just sometimes we have to break…— Options.India (@Options_IndiaAB) October 8, 2025
The day serves as a stark reminder of the perils of derivative trading, especially in a market environment where swings are dictated more by technical forces and high-frequency trading than by underlying economic realities. The consensus among the community is that such volatile, range-bound days are designed to shake out the maximum number of participants, leaving only the most sophisticated or the luckiest traders in the green. 🍀
Disclaimer: The views and experiences expressed by the traders are their own and do not reflect the views of rakesh-jhunjhunwala.in. F&O trading involves substantial risk of loss and is not suitable for all investors.
