No Loss Option Strategy W/O Adjustment Possible?

Hi Team,
I was checking simple option strategies on sensibull.

Is No Loss Option Strategy without any adjustment even possible?

I checked payoff graph regarding below:
Symbol: Gail
Expiry: September 2025

Strategy: Each Strike of 1 Lot

  1. CE Buy 205 Strike 2. CE Sell 210 Strike
  2. PE Sell 205 Strike 4. PE Buy 210
    Snap: 1

Snap 2

This looks like a box spread, so on Sensibull it may show as “no loss.”
But the reason is mostly low liquidity in Gail options.
Sensibull by default takes LTP, which can be stale or unrealistic.
If you switch to best bid/ask you’ll see the true payoff.
So practically, there’s no zero-loss strategy costs and spreads wipe it out.

2 Likes