I see that many traders sell PUT options instead of buying CALL options when they have bullish view even for an intra-day trade and vice-a-versa.
However I think that for intra-day buying call can be more profitable than selling PUT given it doesn’t require a large margin to be blocked.
Consider a case of Nifty option expiring on 5th Dec. It’s 12150 strike price CE & PE are both priced at ~70 and have similar delta. Suppose I have a bullish view for intra-day. If I short PE@12150, margin of ~85,000 will be blocked. Instead I can buy 10 lots of CE@12150 for Rs.53000 and earn more profit compared to shorting PE.
What can then be a rationale for selling PE instead of buying CE? Am I missing anything in the above analysis?
I have considered effect of time decay. But for intra-day, is this decay so significant that it beats the advantage of buying more number of lots?