Experimenting short straddle/strangle for the last 1 week . Aim is to figure out a strategy to trade in bulk .
So far results seems to be good ( I did banknifty intraday condor and butterfly for close to 1 year and the results were incolclusive, backtested by removing the hedging losses and the results are impressive ) .
Initiate the trade after minor upmove or downmove ( we will get extra 3/4 points cushion even for OTM ) , SL is 10% of the premium or 100pt movement in bank nifty. This strategy got a good safety margin than going for positional condor or butterfly.
Trader needs to keep monitoring the position though.