Thread by @theBuoyantMan

Option selling is a game for larger players (probably those with at least 1-2cr in capital).

As a bare minimum, I suggest at least 50L in capital before you start thinking about option selling as a strategy to make money.

Intraday option selling and swing - both have their drawbacks, and both have potential to wipe you out.

Intraday - violent swings can move through your SL without executing.

Swing trades - gap up/down opens against you could lead to margin call.

While I'm oversimplifying the cases, it's very important to know where the landmines are so that you can avoid them.

If you don't even know where the landmines are and you're walking a field full of them, even if you're lucky 10 times, the 11th time you step on one, you die.

When a position goes against you or something happens that's not anticipated, you have to have enough capital ready to deploy, to adjust the option position, to minimize losses.

You have to be first able to think on your feet, and take decisions in the spur of the moment.

People who have popularized this concept of "firefighting" in option selling are just speaking out of vanity.

Especially those who don't even place stop losses and make lakhs in losses without any semblance of risk management, are not ideal people to idolize.

Learn about options in-depth, and learn thoroughly about how to adjust your positions according to market movements (in and against favor). Observe and analyze the market (and your strategies) for few months after backtesting thoroughly. Only then start trading, but start small.