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Jig's Patel Profile picture
@jigspatel1988
Jul 4, 2021 • 7 tweets • 2 min read • Read on X
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Thread on
"Intraday Banknifty Strangle based on OI data"

(System already shared, today just share few examples)
(1/n)
-Trade timing after 9:45

-Check Banknifty change in OI data at 9:45, and identify the highest OI built up in call side and put side

-We will sell both strikes with combined premium as SL on both legs.
(2/n)
28th June 2021

BN open-35440
At 9:45 trading at 35350
Highest OI in call side at 35500 CE and 35000 at put side
Strike selection 35500 CE- 35000 PE
(3/n) Image
29th June 2021

BN open-35323

At 9:45 trading at 35112

Highest OI in call side at 35300 CE and 35000 at put side

Strike selection 35300 CE (232) - 35000 PE (150) Combined premium 382 , Both legs SL 382
(4/n) Image
30th June 2021

BN open-35030

At 9:45 trading at 35002

Highest OI in call side at 35000 CE and 35000 at put side

Strike selection 35000 CE(176)- 35000 PE(213) Combined premium 389 , Both legs SL 389
(5/n) Image
01st July 2021

BN open-34832

At 9:45 trading at 34831

Highest OI in call side at 35000 CE and 34500 PE

Strike selection 35000 CE (42)- 34500 PE (23), Combined premium 66 , Both legs SL 66
(6/n) Image
02nd July 2021

BN open-34790

At 9:45 trading at 34740

Highest OI in call side at 35000 CE and 34500 PE

Strike selection 35000 CE (196)- 34500 PE (225) Combined premium 421 , Both legs SL 421
(n/n) Image

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More from @jigspatel1988

Jig's Patel Profile picture
Aug 13, 2022
Today explored algotest.in platform for Backtesting, few points I must mention here for traders
Pros:
1.its free for Backtesting any number of years
2. You can also configer with zeroda and your execution done through algo
@AlgoTest_in
3. Various options for strike selection
4. Momentum based entry is one of best with various options
5. Re-entry feature with many option
6. SL based on points, percentage and underlying price
7. You can combine multiple strategies in portfolio section
Cons
1. Portfolio combine excel download option not available
2. Excel data arrangements are complex
3. Data filter option based on vix is not available
4. Data representation through only tables needs to show case with chart its best way to understand
Read 4 tweets
Jig's Patel Profile picture
Jun 25, 2022
Rules-based Banknifty/Nifty Option selling.

Instrument: Nifty or Banknifty
Intraday trading system.

1. System entry time: 9.30 AM
2. System Exit: 3.24 PM or System level SL hit or India Vix RSI above 70 levels (3min)
3. Three times we do adjustments and 3X as initial SL
Let's see the trade initiation and adjustment rules.
1. If Vix RSI is below 70 levels at 9.30 we will sell 15D put option and 20D call option (* D means Delta premium may be +-1).
2. if any option delta increases 8 points then we will do our adjustment (maximum three-time).
3. If call delta reaches to 28 levels then we book profit in put side and sell a new put option (15 D+8D=23D) whose trading near at 23D.
4. Repeat the same, Next adjustment if call side (28+8=36D) or put side (23+8=31D) then do adjustment same as above step no 3.
Read 11 tweets
Jig's Patel Profile picture
Jul 17, 2021
A thread about STBT options selling,

The purpose is simple to capture overnight theta decay,

Generally, ppl sell ATM straddle with hedge or sell naked options,

But I am using Today’s price action for selling options in STBT,

(1/n)
Its work on both index (Nifty, BNF) as well some standard stock but i used only for Index on every day and Last 10 days monthly expiry i do in stocks only specific,

It’s purely STBT type’s trade sell today and buy tomorrow kind,

(2/n)
Let’s start the strategy,

Every day at 3:15 PM, Open Nifty or BNF chart in daily TF.

See the last candle formation only; we take trade always based on the last candle formation

(3/n)
Read 10 tweets
Jig's Patel Profile picture
May 30, 2021
A Thread on Discretionary Option trading:
Intraday options selling style
Instrument is Nifty.
I am using following indicator on Nifty fut. chart for finding the market trend as well behavior
Exp. Moving avg (5 & 20)
Supertrend(10,3)
VWAP
RSI(14) set upband-60 lower band-40
ADX
Timefram is 3 min, you can set as per your req. 5 or 10 min. But I used in 3 min only
I am also mark in chart PDL,PDH and PDC.
Also observing the reversal price action in chart for trend change, Only reversal PA
Along with indicator I am also use the OI data for strike selection
OI also used for the direction.

After 9:20 AM I will start trading based on setup.

1.If market in PDR and Mov. Avg & ST is flat and RSI in range of 40-60 Than I will sell strangle where Highest cumulative OI in nifty.
Read 10 tweets
Jig's Patel Profile picture
May 26, 2021
No more webinar,
My all knowledge is free for everyone, so please don't DM about training and workshop,
Yes welcome DM for any kind of discussion
Will share some content in YT only

I did two webinar and interacted with 110 participants, given full support in telegram to all
Received few DM related broker promotion as well webinar marketing but I said to all, No promotion

I am using twitter is for knowledge exchange only.

I am not against to any one I give full respect to everyone (trader/trainer)

Few reasons to not doing training
1. Want to Spend more time with family
2. I have a full time job as well publication business
3. Trading with good amount of capital so earning good money from it

In last few days all members were suffering from covid i spend good time to my self and i think about
Read 4 tweets
Jig's Patel Profile picture
Jan 8, 2021
Thread on Short straddle with adjustments:

Short straddle is non-directional strategy

Selling same strike price CALL/PUT option same underlying with same expiry.

Nifty Spot at 14353, So you can sell 14350 CE as well 14350 PE of 14 Jan. Expiry.

(1/n)

*RETWEET for max response
Bullish short straddle: Selling 14400 CE and 14400 PE of same expiry.

Bearish short straddle: Selling 14250 CE and 14250 PE of same expiry.

You can sell straddle as per your market view.

If you are natural view sell CE and PE at ATM strike.

(2/n)
Short straddle has limited profit potential (only premium) and unlimited risk without adjustment.

In Example, Short straddle of 14350, Breakeven is (14131.0-14569.0), need 1.7Lac Margin to sell straddle.
Maximum profit: 16k and Loss: Unlimited, Winning probability: 50%

(3/n) Image
Read 12 tweets

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