What can be best Options stratagy for big events like election and budget?

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What can be the best options statagy for big events like election results or budget with example considering the high volatility?
thank you.

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Hey @dp1980,

Check out this webinar from Sensibull to know how trade event days.

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Stay away from options

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I am not sure about the BEST Strategy for such scenario, but I am sharing my views -

If you have higher degree of conviction regarding the direction of the move on such event, then one could create a directional position like buying OTM call or put beforehand. ex the Lok Sabha Election results would be declared on 23 May 2019, so one could start creating the positions in May 2019 contracts accordingly.

If you are not sure about the Direction, then you may go for option positions which gains because of increase in volatility, like Straddle and Strangle etc.

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