Every week we got one or two days
where there is no momentum and market trade in a Range.
this is best scenario for option selling.
sell CE option on top Using nearest resistance as
SL. Then Hedge position with selling PE near Support.
you will make money in all scenario ,if market remains
in a range , breakout or Breakdown.
1 . RANGE BOUND MARKET :- you will get benefit from premium cutting.
2. break out :- if nifty gives Range breakout and sustain , in that scenario , we Exit from CE , and carry out PE position
using Trail SL.
3. Break down :- if nifty confirm Breakdown , same thing exit from PE call an d carry with CE.
Hope I can answer your question .if you have any doubt plz message me.
PS :- option selling is Risky .Test your setup and practice on paper and then take trade.
range break out or break down exit from respective CE or PE ...
Like today I exit from 14800 PE and carry 15200 CE.