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MASTER THREAD on Short Strangles.

Curated the best tweets from the best traders who are exceptional at managing strangles.

โ€ข Positional Strangles
โ€ข Intraday Strangles
โ€ข Position Sizing
โ€ข How to do Adjustments
โ€ข Plenty of Examples
โ€ข When to avoid
โ€ข Exit Criteria

How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr

โ€ข When to sell
โ€ข How to do Adjustments
โ€ข Exit


Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in


1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr

โ€ข Sold Strangles 20% cap used
โ€ข Added 20% cap more when in profit
โ€ข Booked profitable leg and rolled up
โ€ข Kept rolling up profitable leg
โ€ข Booked loss in calls
โ€ข Sold only


2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.

โ€ข Identified a reversal and sold puts

โ€ข Puts decayed a lot

โ€ข When achieved 2% profit through puts then sold

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Simple and effective way 2 make Money


Idea 1:- Use pivot level like 14800 in case of nifty and sell 14800straddle monthly expiry (365+335) exit if nifty closes on daily basis below S1 or above R1

After closing below S1 if it closes above S1 next day or any day enter the same position again vice versa for R1

Idea2:- Use R1 and S1 corresponding strikes multiple
Incase of R1 15337 take 15300ce
N in case of S1 14221 use 14200pe
Sell both and hold till expiry or exit if nifty closes below S1 or above R1 around closing
If the same bounces above S1 and falls below R1 re-enfer same strikes

Use same criteria for nifty, usdinr and banknifty

(This is must)Use this margin rule for 1lot banknifty pair keep 4Lax margin
For nifty one lot keep 3Lax
For usdinr 100lots keep 4Lax

I bet you if you do this on consistent basis your ROI will be more than 70% on yearly basis.

Couldn't explain easier than this

Criticisms are most welcomed.
MDZS is laden with buddhist references. As a South Asian person, and history buff, it is so interesting to see how Buddhism, which originated from India, migrated, flourished & changed in the context of China. Here's some research (๐Ÿ™๐Ÿผ @starkjeon for CN insight + citations)

1. LWJโ€™s sword Bichen โ€˜is likely an abbreviation for the term ่บฒ้ฟ็บขๅฐ˜ (duว’ bรฌ hรณng chรฉn), which can be translated as such: ่บฒ้ฟ: shunning or hiding away from ็บขๅฐ˜ (worldly affairs; which is a buddhist teaching.) (
https://t.co/zF65W3roJe) (abbrev. TWX)

2. Sandu (ไธ‰ ๆฏ’), Jiang Chengโ€™s sword, refers to the three poisons (triviแนฃa) in Buddhism; desire (kฤma-taแน‡hฤ), delusion (bhava-taแน‡hฤ) and hatred (vibhava-taแน‡hฤ).

These 3 poisons represent the roots of craving (tanha) and are the cause of Dukkha (suffering, pain) and thus result in rebirth.

Interesting that MXTX used this name for one of the characters who suffers, arguably, the worst of these three emotions.

3. The Qian kun purse โ€œไนพๅค่ข‹ (qiรกn kลซn dร i) โ€“ can be called โ€œHeaven and Earthโ€ Pouch. In Buddhism, Maitreya (เคฎเฅˆเคคเฅเคฐเฅ‡เคฏ) owns this to store items. It was believed that there was a mythical space inside the bag that could absorb the world.โ€ (TWX)