Intraday Options Selling Strategy - Nifty and Bank Nifty Options Weekly Expiry

Originally Posted by rowdy123

Hello,
I went through Mani sir video on Intraday Options Selling Strategy - Nifty and Bank Nifty on youtube. I am not clear on the strike price for which we should short Call and Put option. I don't understand whether we should short options of same strike price or options of high and low strike price. Below is the example.

First 15 Mins range is 11338 - 11273
How do I determine 100 points strike price?
Should we short both Call and Put for same strike price and which one?

Thanks in advance for your reply.

Answer:

First 15 Mins range is 11338 - 11273

If price goes below 11273 and no visible support and you instinctively also feel weakness in market , can short 11400 CE or to be more safe 11500 CE .... Buy cover at 11600 CE or 11700 CE or 11800 CE to cut off un-limited loss based on your risk appetite

similarly, price goes above 11338 and no visible resistance and you instinctively also feel strength in market, can short 11200 PE or 11100 PE to be more safe. Buy cover at 11000 PE or 10900 PE or 10800 PE to cut off un-limited loss based on your risk appetite