Intraday Strangle Option Selling Strategy
"Smart Option Selling "

๐Ÿงต THREAD [MUST READ ] ๐Ÿงต

[1/16]

How to ๐—ฏ๐˜‚๐—ถ๐—น๐—ฑ/๐—ฏ๐—ฎ๐—ฐ๐—ธ๐˜๐—ฒ๐˜€๐˜ a strategy ?
๐Ÿ”ธ Idea/Hypothesis
๐Ÿ”ธ Specify entry,exit, SL
๐Ÿ”ธ Position Sizing and Risk Mgt.
๐Ÿ”ธ Trade log and Backtest Report
๐Ÿ”ธ Test in diff. market conditions
๐Ÿ”ธ Optimise the strategy
๐Ÿ”ธ Track Real Time
๐Ÿ”ธ performance Deploy
[2/16]
What is Closest Premium Range ?
Closest Premium is a strategy where we select options not based on strikes like ( ATM , OTM 100 OTM 200 etc) but rather based on premium values like 200 , 300 etc
[3/16]
๐Ÿ”ธ If select Closest Premium near 100 then this will be approx 600-700 points OTM on Friday ,300 Points Otm on Wednesday but Atm on Expiry day

๐Ÿ”ธ So This is good for capturing decay on other days as we are selecting far away options and coming near Atm on Expiry
[4/16]
๐—ฆ๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐˜† ๐Ÿญ:ย  ๐Ÿต:๐Ÿฏ๐Ÿฌ ๐—”๐—บ ๐Ÿฎ๐Ÿฌ๐Ÿฌ ๐—–๐—ฃ๐—ฅ๐Ÿ”ธ Time : ย 9:30 AM
๐Ÿ”ธ Instrument : Banknifty
๐Ÿ”ธ Strike : Nearest to 200 Rs be it any Strike price
๐Ÿ”ธ Stoploss : 40% Per leg, SL move to Cost
๐Ÿ”ธ Exit : 3:00pm or Stoploss
๐Ÿ”ธ Days :Everday except thursday
[5/16]
๐—ฆ๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐˜† ๐—–๐—ต๐—ฎ๐—ฟ๐—ฎ๐—ฐ๐˜๐—ฒ๐—ฟ๐—ถ๐˜€๐˜๐—ถ๐—ฐ๐˜€
๐Ÿ”ธ As we move closer to Thursday the premium comes near Atm and will be ITM Approx 200 Points and cannot be traded
๐Ÿ”ธ Will become Directional As well if one side Stoploss hits and loss is max around 80 Points
[6/16]
๐Ÿ”ธ Mostly Non Directional on Fridays , Mondays and as Premium will OTM approx 200-300 points
[7/16]
๐—ฆ๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐˜† ๐Ÿฎ : ๐—ง๐—ต๐˜‚๐—ฟ๐˜€๐—ฑ๐—ฎ๐˜† ๐Ÿญ๐Ÿฌ๐Ÿฌ ๐—–๐—ฃ๐—ฅ๐Ÿ”ธ Time : 10:00 AM
๐Ÿ”ธ Instrument : Banknifty
๐Ÿ”ธ Strike : Nearest to 100 Rs be it any Strike price
๐Ÿ”ธ Stoploss : 30% Per leg, NO SL move to Cost
๐Ÿ”ธ Exit : 3:00pm or Stoploss
๐Ÿ”ธ Days :Thursday
๐Ÿ”ธ Mostly trading at ATM
[8/16]
๐—ฆ๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐˜† ๐Ÿฏ :ย  ๐Ÿญ๐Ÿญ:๐Ÿฌ๐Ÿฌ ๐—”๐—บ ๐Ÿญ๐Ÿฑ๐Ÿฌ ๐—–๐—ฃ๐—ฅ๐Ÿ”ธ Time : 11:00 AM
๐Ÿ”ธ Instrument : Banknifty
๐Ÿ”ธ Strike : Nearest to 150 Rs be it any Strike price
๐Ÿ”ธ Stoploss : 30% Per leg, SL move to Cost
๐Ÿ”ธ Exit : 3:25pm or Stoploss
๐Ÿ”ธ Days : All or except Thursday
[9/16]
You can set up the same code in ๐—ค๐˜‚๐—ฎ๐—ป๐˜๐—ถ๐—ฝ๐—น๐˜† and ๐˜ˆ๐˜ถ๐˜ต๐˜ฐ๐˜ฎ๐˜ข๐˜ต๐˜ฆ this Strategy
https://t.co/71qJopwi0J
[10/16]
๐— ๐—จ๐—ฆ๐—ง ๐—ช๐—”๐—ง๐—–๐—› the Complete 22 Min Video to understand the strategy better !
https://t.co/v1KynrKDav [11/16]
Note :
I Personally do trade this variation of the the above Strategy and have found out good results

[12/16]
๐Ÿ”ธ ๐—™๐—ถ๐—ป๐—ฎ๐—น ๐—•๐—ฎ๐—ฐ๐—ธ๐˜๐—ฒ๐˜€๐˜ ๐˜„๐—ถ๐˜๐—ต ๐Ÿฌ.๐Ÿฑ% ๐—ฆ๐—น๐—ถ๐—ฝ๐—ฝ๐—ฎ๐—ด๐—ฒ
๐Ÿ”ธ R:R=1.17
๐Ÿ”ธ MDD = 24 days
๐Ÿ”ธ Very few red months or breakeven months
๐Ÿ”ธ Cost of strategy will come down if you use 0 brokerage or trade with higher no of lots
๐Ÿ”ธ Cann add This with other baskets and test.
[13/16]
๐—”๐—น๐—น ๐—บ๐˜† ๐—ข๐—ฝ๐˜๐—ถ๐—ผ๐—ป ๐—ฆ๐˜๐—ฟ๐—ฎ๐˜๐—ฒ๐—ด๐—ถ๐—ฒ๐˜€ ๐—Ÿ๐—ถ๐—ป๐—ธ :
https://t.co/zt17bGCKZB
[14/16]
Also if you are an investor with Min 15L capital and want customised strategies+ Automation Dm on Twitter !

[15/16]
๐Ÿ”ธ ๐—ง๐—ฒ๐—น๐—ฒ๐—ด๐—ฟ๐—ฎ๐—บ ๐—Ÿ๐—ถ๐—ป๐—ธ : https://t.co/b4N4oPiSwB
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[16/16]
If you like this thread please retweet the first tweet and follow me for more! https://t.co/fkFnz4I5bQ
@gurjasraj @pythontrader999 @jitendrajain @soamjena do give your Views !

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