I am trying to apply a simple Iron condor strategy on Bank nifty. While selecting a Dynamic contract , i am not able to select deep OTM for margin benefits. The offset is only available till 9 . In this case the overall profits becomes very very less if we choose even 9 deep OTM. Is there a way to select Deep OTM like 20 deep from ATM.
Also I want to exit my strategy for 3:25 but i checked streak only allow it till 3:15 . Is it possible to run Strategies till 3:25 ?
We allow buying options of any strike price for hedging purposes if you hold a short option position. The restriction is for naked long options due to the member level OI limit. Explained in detail here.
As you can see i am trying to add Long position on my already added short positions for margin benefits(Iron Fly) but it’s not letting me add it. I can go upto 9 or -9 strike prices . Since the price of these strike prices are high , i am not able to apply proper Iron fly for Theta Decay.
Is it possible to add more then 9 strike price like 15-20 to hedge the position.
Currently, you cannot select strikes further than +9/-9 from the ATM strike in Dynamic Contracts. However, you can add Strikes manually at a distance of +15 and -15 strikes from the ATM strike of the previous day’s close.
