you can use Collar strategy . it protects you from large losses but also limit your profits
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In my opinion bollinger bands can be used effectively. We can observe bands are contracting and expanding alternatively basing on the volatility. When volatility increase bands will expand and when volatility decrease bands will contract. Use straddle when bands begin to expand, use strangles or iron condor when bands begin to contract.
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you can use Double calender hedge
you can earn weekly with that
any calender based hedges is the safest.