What's your weekly Nifty/ Banknifty expiry day strategy?

Nifty & Bank Nifty discussions
1

Here’s mine:

Before 10 AM- I look at the volatility in the market for that day. If I expect movement eitherways, I buy an OTM Call and a Put 300-400 points away from the spot price and leave it till 2 PM. If there is a directional move on either side, my premium cost is recovered along with a nice profit. There are good and bad days(more good days in the recent past where BNF rallies about ±1-3% on most expiry days), the good days tend to cover for the losses on the bad days.

After 2 PM- I start selling strangles(more than 300 points away from spot) using MIS hoping that the market does not move either ways and I end up pocketing small premium. No selling on days when market is acting crazy on the last 1 hour of trading or on event days like RBI MPC meeting, Fed interest rate meeting, etc.

You can post your expiry day strategy below!

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2

I just check if BN is inside range and then just sell both PE and CE 500 points away , collecting small premiums.

3

Days like yesterday are such stressful, huge swings in either direction. Plus big slide at open means all far OTM options aren’t worth it to trade.

4

If you’ve been trading options for a while, I have a query. On normal days (non expiry days) does option tend to decay more in last hour of trading?

5

Not much really, except for on Fridays(due to 2 days of weekend decay) and during Wednesdays of the expiry week.
@Abid_E_H, our man who built @Sensibull, your observations?

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6

@Umar @vishnux @ShubhS9 @rachuri1976 I am a bank nifty options Intraday trader on 1 minuter timeframe, don’t sell Call or Puts, just buying call or puts and trading as per the indicators.
Mostly I am loosing money by (1) hitting stop losses or (2)early exiting from a later on huge profit trade. Please advise me how to decide the exit position and other flaws?

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7

yes those premiums melt more in 2nd part of the market.

8

i am trading expiry as well as diverting profit to blue chip stock , earning every month 2.5 lakhs brokerage will be around 10k only positional , i never do intraday its waste of time and brokerage and tax etc , last march i buy reliance 5 lakhs GTC was triggered in zerodha for long term purpose i put a GTC order @900 now its 2000+ happy in building portfolio also , mixing every kind of trade in market itself

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