Seeking Guidance on Option Selling Strategies (Intraday & Weekly)

Trading Charts & Strategies 📈
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Hello fellow traders,

I’m an intraday option seller, actively selling options on every expiry, focusing on:

  • Monday: Midcap
  • Tuesday: FinNifty
  • Wednesday: BankNifty
  • …

My strategy involves selling OTM options within a specific range, aiming for zero value by day’s end, generating consistent profits.

Previously, I used:

  1. Long Condor
  2. Strangle
  3. Straddle with hedge benefits

These strategies yielded small but consistent profits. However, with SEBI’s new rules eliminating weekly expiries on Nifty, I’m struggling to adapt.

Challenges:

  1. No experience with weekly option selling strategies
  2. Uncertainty about adjustments (when, how much, and which strike prices)
  3. Hedging techniques for weekly options

Request:

Fellow traders, please share your expertise on:

  1. Weekly option selling strategies
  2. Adjustment techniques (percentage, strike prices, and timing)
  3. Hedging methods for weekly options
  4. Risk management and position sizing

I’d love to learn from experienced traders who successfully sell options on weekly and monthly basis.

Thank you in advance for your guidance and support!

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If there was no SEBI, I would have given u some tips :rofl: But generally I would say keep it simple. Simple things work better, Simple things are easy to understand and simple things are easy to fix when something goes wrong. Besides

  1. Capital should be part of surplus cash over and above what u need for daily maintenance, emergencies etc. Ideally no debt funding of trading account too.
  2. Code, backtest and deploy strategies. If you don’t want to do coding there are codeless platforms too now. Make peace with objective metrics from backtest before going live.
  3. Start small and scale only when you are consistently successful with a small account.
  4. Be disciplined in following your system, Be persistent as long as live results are not outside the backtested metrics.
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Thanks @t7support for sharing your thoughts on this.

Would like to invite a few more of experienced traders who can guide you through this: @pavz @TraderX @gmatesunny @anilmm2005 @Vignesh_N @omkar @amit @NitishMidha @dexter @KirubakaranRajendran @Ravinder_Sharma @Vishk519 @Amarsingh_Shinde @cvs @Sachinkm @Kalam

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