**Hi guys! Paper Trading Experiment Time.**
From tomorrow (24th May 2026), I’ll be creating short strangles on NIFTY 50 weekly options. The objective will be to eat up the premium amount as much as possible.
**Here are the steps for choosing the strikes to be sold:**
\- Look at INDIA VIX
\- Calculate INDIA VIX divided by √365
\- Sell the strikes 100 points far from the expected range
This should work as it becomes very difficult for NIFTY to break that range and theta decay becomes easier.
**Entry and Exit Rules:**
\- Entry at 10:30 A.M.
\- Exit at 2:00 P.M.
\- SL - 25% of Max Profit (25% x 65 x Premium Collected)
Entry time is 10:30 A.M. to avoid any volatility spike during day start. Exit time is 2:00 P.M. is. to avoid any pre-closing volatility.
I am not really sure of the SL with the volatility. It might get hit real quick due to a sharp move. We’ll improvise and make a few changes in the process.
We’ll be executing the trades on FrontPage app. We get an initial cap of ₹10,00,000. The app doesn’t provide hedging benefits. We will be able to sell 2-3 strangles at a time at max.
***Day 1 comes at 10:45 A.M. tomorrow. Stay tuned!***