PS: I will sell PEs only as I think this rise is jumla lol.
Regarding Option Buy, There are TWO things.
Amount of loss.
Chance of happening of such loss.
It is better to buy a Sikkim Lottery than to buy options. I don't have risk appetite to take such low win ratio trade despite blockbuster reward lol.
aur abhi nifty range bound hai chances are stocks bhi range bound rahenge ,
There is no SL. I will hedge if my heist fails. You keep your own SL if you want though.