Please provide your feedback on this trade idea, how does it look ?
After a good rally on Friday, it may be possible that Index may take a halt and go into some consolidation for next few session. This may provide a good opportunity to deploy some a strangle and one can also add hedges on both side to make it Iron condor.
This post is just for learning purpose...
22nd July Weekly Series
Sell 16100 CE @ 16.70 and Buy 16300 PE @ 3.25
Sell 15600 PE @ 8.65 and Buy 15400 PE @ 4.40
Net Credit Rs. 1328/-
View Range Bound between 15600 to 16100
Adjustments, if required will be done if needed.