Hold straddle

Straddle strategy or delta strategy.
Just hold 7600 CALL sell contracts of June expiry and 6900 PUT sell contracts of June expiry. By mistake yesterday I wrote July expiry date for one of the contract.
As per today's volatility combined delta is near zero percent and it is not going to enter into danger zone ie above 25% unless NIFTY crosses 7450 at upper side and 7000 on lower side tomorrow.
Looking at today's open interest it is highly unlikely to happen tomorrow.
So hold the strategy, those who have not entered today can enter the same strategy tomorrow and keep monitoring delta.

Presently it seems to be very low risk strategy and which has potential to fetch 3 to 4% returns per month including brokerage.

Disclaimer: This blog does not take any responsibility of your profit/loss

Short straddle

One can start doing option trading slowly now.
Let is start with selling straddle.
Let us find out NIFTY options where combined delta is less than 4 to 5%.
If anytime combined delta crosses 30% during the month, please exit immediately. It might not happen during one day or two days unless there is more than 250 points movement in NIFTY n just couple of days. So one does not need to monitor trade every minute but must be alert if something undue happens.

There will be budget session and NIFTY might again remember Modi and  try to cross 7500. But keep an eye on delta. I will update everyday delta of the straddle trade at end of the day.

Assume NIFTY opens at similar level + 50-60 points tomorrow then

Sell 7600  NIFTY CALLs of June expiration around 25-26 and Sell 6900 PUT of July expiration around 20-22.

Combined premium will be around 40-45.
Do this in multiple lots.

Combined delta is near 4% considering present LTPs and IVs and it will not change unless there is huge gap up or gap down tomorrow.
If that is the case then don't enter in to the trade.

Disclaimer: This blog does not take any responsibility of your profit/loss