Unlike other strategies available, Banknifty Option Short is a Bot for Intraday Trader which is based on Iron Condor Strategy.
Option Surya Banknifty, has strict SL and Target to ensure we don’t loose profit for any unusual movement in the market. In this Iron Condor strategy bot, there will be two Far OTM (Out of the money) Option Buy and two ATM (AT the money) option Short.
To begin with, the margin goes down significantly from 1.5L to 80K or even less due to the Far OTM Option Call and PUT . However these Far OTM shall decrease the profitability by 10-20%.
Risk and Reward:
Compare to Nifty, Banknifty is generally more volatile. As a result, this bot has a potential to give more return. In summary it works well in Range bound market and as well as in Trending market. However during volatile market conditions this bot may not work as desired.
In order to know more about this Bot you can visit our Marketplace.
Risk: Rs 1,200 if it hits the Stop Loss
Reward: Up to Rs. 1500 if it hits Target
Currently, the above Risk and Reward helps the Bot to maintain more than 62% winning probability with 1:1.2 risk Vs reward.
Although, we prefer not to commit on any profit ratios per month. But as per the last few month’s real trade history BANKNIFTY SURYA can generate 5% return on investment, monthly.