Define your range
Lower bound
→
Upper bound
What gets placed (4 legs)
SELL
PE — short put (lower bound)
23,750
SELL
CE — short call (upper bound)
24,150
BUY
PE — wing (100 below lower)
23,650
BUY
CE — wing (100 above upper)
24,250
Payoff preview
Profit / loss at expiry
SHORT IC · NIFTY
Strike
—
—
23,650
23,750
24,150
24,250
+₹3,341
Max profit +4.18%
If Nifty stays in your range
−₹3,159
Max loss −3.95%
If Nifty breaches a wing
Mechanics
Lot size
65
Wing distance
100 pts
Expiry
Weekly
Margin required
Rs. 80,000