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

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

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.

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?

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

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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