I usually follow the straddle and strangle strategy on weekly expiry, because of high . It will limit our loss and enhace unlimited profits.
Condition : Choosing the strike price is important. Always go for ATM for straddle @ 11.30AM because we will clearly identify the trend and all dusts settle down also premium will be less when compared to opening time because of less time value.
Example: Suppose if nifty trades around 10870 @ 11:30 I use to pick 10900CE & 10900PE. EOD you will gain some profit because most of the movement happen only after 2PM.
Disclaimer: This is for educational purpose, do not trade directly, without having knowledge about the concept. Please backtest for atleast 10 consecutive expiry. Then trade according to your understanding.