Basic question : Is option writing really practical considering the margin required. To trade 2 lots(i.e 150) of nifty 10100 ce on would need close to 1.14 lakh or 45k(mis). Why prefer this when u can just short 2 lots nifty futures for 48k and get much more price movement? Am i missing something here.
option writing gives us more chance to make money than futures like two out of three scenerios we earn money while in future we earn only when we are right about the market direction .i.e fifty fifty winning or losing chance .for more clarification read varsity
If the trading capital is more and most of the money is just sitting idle , then writing options are better than trading in futures IMHO in index .
Also with options trading strategies are plenty and it offers something for every trader.
Anyway last 1.5 months are not good for writers though 
margin rquired to shorting options are roughly same as future margins ( usually less than future margins ) .
Although writing is always powerful and high probability of profit then buying options, please make your self aware with all the option sensitivity parameters before jumping. Options are not meant for directional bets unlike equities/futures
Well I will humbly differ… last 2 months with decent volatility was gala time for writers 
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i dont take directional trades in bank nifty when writing 
awesome.