Double butterfly is best strategy to get some decent returns on nifty expiry ?
I have been using this since past 2 months . It is a back test not an original trade . This is how I trade . I will ender on Friday or Monday and exit on next week Wednesday or leave it to expire . Example 29OCT was expiry . I entered on Friday . I will continue this trade untill 11 NOV . If I have good M2M profit then I will come out or leave it to expire if market is not so volatile . After 2 expiries (12nov) I will implement same strategy on 13NOV and wait for monthly expiry . You can also try this on expiry day . But my suggestion is to enter Wednesday (day before expiry ) after 3:15 . Because you may get some good premium . If you dont like to risk because there may be gap up or gap down then you can enter on Thursday .
MY BACKTEST RESULTS : In September I made approx 3500 . In October I made almost 7000-8000 . NOTE : I didnot do it on expiry day . These are the results of my backtest not any kind of trade I took .
If nifty crossing towards upper break even shall I do adjustments of closing all PE and adding another butterfly towards 12300CE…! It’s a profitability trade ??
How did you choose your strike prices?
NIFTY BATMAN or Double Butterfly-
I won’t do any adjustment as I will be losing only 2k.
Trade initiated on 15 Jun Wed 3 PM.
LOT SIZE- 50
NF SPOT on 15 Jun Wednesday 3 PM- 15700
Strike Price Type Buy/ Sell Price Qty.
16100 CE Sell 88 100
16000 CE Buy 101 50
16300 CE Buy 35 50
Strike Price Type Buy/ Sell Price Qty.
15300 PE Sell 89 100
15400 PE Buy 107 50
15100 PE Buy 50 50
Payoff Graph-
