How to Select Strikes on the Basis of Premium

For my strategy, i only want to select strikes with a premium between 98 and 102. How can this be done ?


Please note that currently, you can only choose Strikes based on offset with respect to ATM (Strike distance from ATM strike) using the “Dynamic Contract” Feature available in Streak Platform. But selecting the strikes based on the premium is currently not supported.

However, as a workaround for strike selection based on premium, you can use the Scanner feature of Streak to fetch the strikes within the selected range. Then you can select the desired Scrips from the scan results to create the strategy. Refer to the below scanner for example:

The scanner will fetch results with the options contracts that have a premium in the range of 98 to 102. We have run the scanner on the Streak’s premade basket of the Nifty current weekly expiry- option contracts, you can run the scanner on the desired baskets. You can also change this range of the premium to your requirement.

Once you get the scanner results you can simply select the desired contacts from the results and add them to a strategy. For example, refer to the below screenshot:

Once you follow the instructions in the above screenshot, you can add the simple condition of “close higher than 0” to get an entry in the next candle itself. You can set the base time frame as 1 min to get the entry alerts in just 1 minute. Do note that the steps will have to be followed manually each time you want to execute this.

We have taken note of your requirement as valuable feedback and sent it to the concerned team for further discussion and consideration. You can follow us on Twitter and join our Telegram channel to join the community and stay updated on Streak’s new releases and feature updates.

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Is there any update on the note that you have taken for this? Would love to see this entire thing being automated using Streak as it will greatly help with reducing margin and reducing manual intervention as well.

Hello @no_username

The team is working on some priority features currently, and we can not give an estimated time of arrival for this as of now. Meanwhile you can use the workaround shared above.

This is what their support replied to me. I asked what they are working on. They are bringing the Basket order feature first. But no ETA for this as well.

Any update on this feature? It’s a make or break for me. The workaround is too cumbersome. Other platforms like StockMock give a simple and direct way to create strategies with strike prices based on premium. This is so basic.

Hi @SatishKG

Streak currently does not support the function to select strikes on the basis of premium. We have taken it as feedback and will be considered in future updates.