Long straddle Question

hi,
I’m using the Long Straddle strategy for Nifty Options, At 9:15 am, I opened two trades long trades both CE and PE when prices move above 40 points to the strike price it makes a profit for June 16 expiration date.
But, when I open another order CE and PC Longs at 11:30 Am, even after the nifty price moved above 70 points it didn’t make a profit, why is that?

Profit or loss in options depends on implied volatility too. If the IV drops, option buyers lose money even if there is movement in underlying stock/index and vice versa.

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@Ragavendran_V
Thanks. Can you provide any tutorial videos or documentation on this?

You can read Zerodha’s Varsity to understand the various factors affecting option prices.

Hi @Ragavendran_V
I read those chapters again now, based on IV only, options movement works. I can’t find any minute charts of IV for options, will get back to you after I find those charts.