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.
@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?
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