I think you are asking how to hedge option written position: illustration of my position : written 300 shares of nifty call 8000, buy 75 shares of 8100 ce, i am little bit aggressive in writing options , so you can imagine wriitng call ms closser to nifty and hedge with buying calls little far from nifty
Market is overvalued, no earnings, non farm payroll i thought will be good , dollar is marching toward 67, u will see it will open 1 rs up on monday,even if bjp wins bihar rally will be very short term rally , india vix will fall that why options will not increase much , even if i got some loss due to bjp winning with huge margin, my dollar position which i completely know about jobs report will make me good, and infact i have some puts written also
Now u will ask how u know about non farm payroll with so much confident, i will say u that as u know my brother on wall street, wall street guys know everything earlier than retail investors come to know