NIfty Option selling strategy 16th Jan 2020 Expiry

Option selling or Option writing strategy for Nifty50

Weekly profit target (1500₹ - 2000₹ per 2 lots)

9th January 2020, Thursday 

At 3.10 PM

Nifty 12,223

Our strategy is to select call and put options of 300 points ahead of current Nifty strike price. Current Nifty strike price is around 12200 so we will select call option of 12500 and put option of 11900

Sell
12,500 call at 8.20 ₹ and
Sell
11,900 put at 13.40 ₹

10th January 2020, Friday 

At 3.30 PM

Nifty 12,257

Market was up by around 30 points and both of our selected option are in profit.

hold
12,500 call at 5.35 ₹ (In profit)
hold
11,900 put at 10.95 ₹ (In profit)

13th January 2020, Monday 

At 3.30 PM

Nifty 12,329

Market was up by around 72 points and both of our selected option are in profit.

hold
12,500 call 6.70 ₹ (In profit)

11,900 put value 3.75₹ (In profit) Book profit here (Profit margin about 9 ₹, i.e Profit of one lot is 675 ₹)

Sell
12,100 put value 8.20 ₹

14th January 2020, Tuesday 

At 1.30 PM

Nifty 12,331

12,500 call value 3.50 ₹ , Book profit here (Profit margin about 4.50 ₹, i.e. Profit of one lot is around 330 ₹)

At 3.30 PM

Nifty 12,362
Market was up by around 32 points and selected option is in profit
Sell
12,500 call at 5.10 ₹
hold
12,100 put at 4.90 ₹ (In profit)

15th January 2020, Wednesday

At 3.30 PM

Nifty 12,343

Market was down by around 19 points and both selected options are in profit
hold
12,500 call at 1.05 ₹ (can not take risk by taking any call within 150 range so keeping 12,500 till end)

12,100 put value 1.50 ₹ , Book profit here (Profit margin about 6.50 ₹, i.e. Profit of one lot is around 475 ₹)

Sell 12,200 put value 3.20 ₹

16th January 2020, Thursday

At 3.30 PM

Nifty 12,355

12,500 call value 0.10 ₹ , Book profit here (Profit margin about 5 ₹, i.e. Profit of one lot is around 375₹)

12,200 put value 0.10 ₹ , Book profit here (Profit margin about 3 ₹, i.e. Profit of one lot is around 225₹)

Summary of week

1. 12,500 call sold at 8.20₹ bought at 3.50 ₹  : profit + 330 ₹

2. 11,900 put sold at 13.40 ₹ bought at 3.75 ₹ : profit + 675 ₹

3. 12,100 put sold at 8.20₹ bought at 1.50 ₹ : profit + 475 ₹

4. 12,200 put sold at 3.20 ₹ bought at 0.10 ₹ : profit + 225 ₹

5. 12,500 call sold at 5.10 ₹ bought at 0.10 ₹ : profit + 375 ₹

Total approx profit = 2080 ₹ (Target achieved)