There is no one line answer for this, you need to go through this module: http://zerodha.com/varsity/module/option-theory/, especially chapters on option greeks and onwards. Will help you in selection of strikes.
There is no one line answer for this, you need to go through this module: http://zerodha.com/varsity/module/option-theory/, especially chapters on option greeks and onwards. Will help you in selection of strikes.