Difficult to understand for newbies like me …
it is actually pretty simple … if you do once or twice and hit the best and worst case scenario , you wont forget …
sometimes i get confused and mix condor and butterfly 
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google and read all available option strategies … and watch weekly bank nifty options closely for 2/3 months
i am not discouraging you , stop playing in options for somemore time , atleast give 2/3 months time to underatns how option greeks works…
anywya only real trades will teach you , but now you may not know why you are making or losing money…
it is better to lose money when you can still learn something out of it
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It requires more time to get grip on how option Greeks plays role in Option pricing.
The most good thing I like about option is THETA. According to me, THETA (TIME VALUE) can become passive income source.
Vega important when events are occuring.
Gamma important when expiry comes near.
Delta important for momentum.
For THETA benefit , option trader has to take care of all other time to time.
For steady income from option, you have to practice different trading system different condition of markets.
All credit goes to greatoptionguru.
The only thing,I hate about option trading is money requires to execute strategy is high.
I paper traded one trading strategy 8 month got good results but even I can’t execute it due to lack of finance.
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my goto strategy is net option short when i want to play safe and make some decent money ( for experimenting other strategies ) 
i do this when i want to some money as well
i see option shorting is a money printing machine …
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Sure. I started to read Option Module in depth.
i have learn option basics and advance from greatoptionguru.com
Worthwhile investment to learn option trading at age of 25 year.( I am now 26)
still have subscription till july 2018
learn lot.
They also post videos on youtube.
https://www.youtube.com/user/greatoptionguru
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Yep, Friday was a very volatile day…
check my paper trade results:
https://drive.google.com/open?id=1tXmHorqFQgedjAYx1-SCzLBg6QpV7TXv
It has problem with nifty or bank nifty high gap open and high gap down like 3%+.That happen mostly with predictable events so we can change strategy that time.
Best time value hunting I have ever encountered.
i really dont recommend any paid courses for options …
there are thousands of articles , manuals to teach options …
in the end there are less than 7/8 stratgeis which we all use frequently …
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I learned
FUTURE OPTION combination to make delta neutral and get theta. It is not like option combination strategy like condor,butterfly etc.
Important thing is from raw strategy in July-2016, by trading on live account,they are mentoring. They constantly improving it to match with market condition.
Future premium make theta benefit less still got good results then stocks in portfolio+ option to get delta neutral and hunt theta will be awesome(future require less capital but has time value in it)
are you doing covered call with futures ?
i couldnt see anywhere where you sold puts …
you can easily replace futures by by buying ITM or ATM calls here …
personally my view is that option seller in any degree will make money in the end …
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Apart from course I learn lot one book…THE OPTION TRADER HANDBOOK-STRATEGIES AND ADJUSTMENTS.
(Best book covering all option adjustment )
one of 4 book last year read
- THE OPTION TRADER HANDBOOK-STRATEGIES AND ADJUSTMENTS
- INTELLIGENT INVESTOR (FIRST AND BEST BOOK INVESTING)
- GET RICH WITH OPTION
- TRADING FOR LIVING (Using it’s concept on intraday trading+swing trading filter)
Now reading PENNY STOCK FOR DUMMIES IN 2018.
Book reading has changed life…
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Yes, First time someone told exact name.
FUT balanced covered call delta nuetral…
After 3 month we replaced FUT with ITM calls.
ITM call adjust margin+ provide good range of profit(less adjustment for delta neutral).Help in Vega,Delta but
It costs THETA …
sacrifice profit for less margin…
In last 2 month check I have used less cash,When I started to use ITM call in place of FUT.
this is a directional trade , works when the nifty/bank nifty moves up or consolidates … but there is no protection in the downside …
this position is not delta neutral , this is delta hedging ( i googled to fiind the name )
you are making it very complex for me to comprehend 
as a seller i want to take advantage of time decay ( theta )…
seller here ( esp delta neutral weekly option player ) will be selling irespective of whther vix is high or low ( vega ) … we dont have any control over direation ( delta )
i really dont bother much technicals when i paly for time decay in weekly options ( even nifty long term options are rarely traded )…
when i want to play safe and eat premium … i sell at the money or neat the money call and put for the same value and try to hedge it equidistant …
ex:
sell 26200 call and put for 480rs ( 260 and 220rs ) and hedge it with 26400 call and 25800 put … its not delta neutral but close to it
i play in weekly options and iniitate postion just 4/5 days before the expiry… so no need to bother abt vix ( vega )
if premiums are less and some events are expected … then no trade , thats the only time seller need to bother about delta ( direction )
