Which ever way you look at it, writing options close to expiry builds a strong case for a good trade. However this depends on the strike you choose. Read this article to understand which strike to choose, when - http://zerodha.com/z-connect/queries/stock-and-fo-queries/application-of-option-greeks
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Reply Date 21/03/2017
Hello,
Option trading on expiry day may be very risky. Because either it will become profitable or ZERO.
On expiry day, you may loss whole premium, because it will be ZERO till market closing if you miss the right trade.
But on expiry day, There may be a chance of Unlimited Profit with Limited Risk.
So i suggest to put a very limited amount to trade on expiry day.
> I suggest to trade in nifty options instead of specific stocks,
I suggest to trade the nearest option which is available in less than Rs 5/-.
And be careful after 2:50, because last 30 minutes may be very risky.
Below is my own strategy:
https://profitshooter.com/nifty-options-trading-strategy-expiry-day/