Dumb Straddle 1030 - BN

Strategy Description: This is an intraday Strategy on BankNIFTY
Weekly Options.
Entry: It sells intraday BankNIFTY ATM options at 10:30 AM with 20% stop loss at each of the legs and exit at 2:50 PM.

Strategy Details

It will sell intraday BankNIFTY ATM options at 10:30 AM. It will have two stop losses –

Metrics

Disclaimer

SEBI has released circular no. SEBI/HO/MIRSD/DOP/P/CIR/2022/117 on September 02, 2022, regarding the performance/returns claimed by unregulated platforms providing algorithmic trading strategies, imposing restrictions on disclosing past performance or anticipated returns of any strategy. Due to slippage and varying costs (e.g., different brokerage fees), strategy returns exhibit significant fluctuations. That’s why, we are presenting backtested benchmark results instead.

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Commonly Asked Questions

Our methodical approach is focused on revealing the essence of each design challenge to allow us.

This is called Dumb Straddle Strategy because it looks like a too simple strategy based on Straddle.
It was supposed to sell sell intraday ATM options at the start of the market but since inception it is selling 5 minutes after the market start i.e. 9:20 AM to avoid the maddening volatility of market start.
Currently, brokers initiate an automatic square-off process 30 minutes before the market closes, precisely at 15:00. This timing aligns with the heightened volatility observed during the market’s final half-hour. That’s why, we set our reference time at 14:50.