Define your range
Lower bound
→
Upper bound
What gets placed (4 legs)
SELL
PE — short put (lower bound)
22,150
SELL
CE — short call (upper bound)
22,550
BUY
PE — wing (100 below lower)
22,050
BUY
CE — wing (100 above upper)
22,650
Payoff preview
Profit / loss at expiry
SHORT IC · NIFTY
Strike
—
—
22,050
22,150
22,550
22,650
+₹1,232
Max profit +1.54%
If Nifty stays in your range
−₹5,268
Max loss −6.59%
If Nifty breaches a wing
Mechanics
Lot size
65
Wing distance
100 pts
Expiry
Weekly
Margin required
Rs. 80,000