Iron Condor
NIFTY · iron condor
Classic 4-leg defined-risk strategy. Sell a strangle, hedge both wings. Profits when underlying stays between the shorts. Standard vol-selling workhorse.
Sell weekly NIFTY iron condors with shorts at 1-sigma delta, hedge 200pts away, square off at 50% premium, SL at 2x credit. Roll Mondays after 10 AM IST.
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Use in Studio →Bear Call Spread
NIFTY · vertical spread
2-leg directional bearish strategy. Sell OTM call, buy further OTM call. Profits when underlying stays below short strike.
Bearish NIFTY weekly: sell 1.5σ OTM call, buy 2σ OTM call. Target 40% premium decay. SL at 1.5× credit.
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Use in Studio →Bull Put Spread
NIFTY · vertical spread
Mirror of bear call. Sell OTM put, buy further OTM put. Profits when underlying stays above short strike.
Bullish NIFTY weekly: sell 1.5σ OTM put, buy 2σ OTM put. Target 40% premium decay. SL at 1.5× credit.
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Use in Studio →Short Strangle
NIFTY · short strangle
Naked 2-leg vol-selling. Sell OTM call + OTM put. Maximum theta, undefined upside risk. Only for high-conviction range-bound markets.
Sell weekly NIFTY 0.20 delta strangle. Tight 1× credit SL. Close at 40% profit. NEVER trade in VIX > 22 regime.
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Use in Studio →Calendar Spread
NIFTY · calendar spread
Sell front-month, buy back-month same strike. Capture theta differential. Lower margin than verticals. Vega-positive.
Sell front-month ATM NIFTY, buy back-month ATM. Hold until front-month theta peaks (~7 DTE). Roll into the next month.
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Use in Studio →Iron Butterfly
NIFTY · butterfly
Tighter cousin of iron condor — shorts at the same strike (ATM). Maximum credit, narrower profit zone.
Sell ATM NIFTY call + put, hedge 150pts away both sides. Target 30% profit. SL at 1.5× max risk.
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Use in Studio →Ratio Spread
NIFTY · ratio spread
Asymmetric. Sell more contracts than buy on one side (e.g. sell 2 OTM, buy 1 closer-to-ATM). Captures vol skew.
Buy 1 NIFTY 0.40-delta put, sell 2 NIFTY 0.20-delta puts. Net credit. Profit if NIFTY stays above the short strike.
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Use in Studio →Cash-Secured Put
NIFTY · cash secured put
Sell put backed by cash for the full notional. Win-win: keep premium if expires OTM, or get assigned at a discount you wanted to buy at.
Sell monthly NIFTY 0.30-delta put. Hold to expiry or close at 50% profit. Roll out if assignment is imminent.
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