Iron Condor Options Strategy in MOTHERSUMI

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Hey Folks! I hope you are safe and healthy in this COVID-19 pandemic. Every week I’m trying to share one strategy so that we can earn together. Today I’m sharing an Iron Condor Options Strategy in MOTHERSUMI for September Expiry. Read this post till the end to know the strategy and adjustments.

Before we jump to our strategy, Let us understand few things about Iron Condor Options strategy first.

Iron Condor Options Strategy is limited risk options strategy. This strategy works well in a range-bound script. So any liquid stock trading in a range can be the candidate for this Iron Condor Options strategy.

There are a few more parameters one should follow before initiating this strategy in your account. I have written a deep article with an example for those who want to learn this strategy.

So before you deploy this strategy in a live account, you should have a proper understanding of this strategy and its behaviour. So spend some time to learn the strategy first.

If you are looking for some Mentorship for this Iron Condor Options Strategy and its adjustments, must click on below button.

Iron Condor Options Strategy in MOTHERSUMI

Now our first step to find a range based on the chart. Let us look at the chart of MOTHERSUMI first.

MOTHERSUMI chart today

We can see on the chart that 130 – 110 is the range where MOTHERSUMI is trading right now. So based on this range we can initiate our strategy.

Let us look at the Open Interest to find the range OI is giving. Based on both the data, we can choose a range for our Iron Condor Options strategy.

Open Interest analysis for the Iron Condor Options strategy in MOTHERSUMI

MOTHERSUMI support & resistance based on  Open Interest

Based on the Open interest chart, we can see that 130-135 is acting as an immediate resistance zone and 115 – 110 is acting as an immediate support zone. Max pain is at 120 indication expiry level.

This is confirmed with Open interest that 110 – 130 can be the range in MOTHERSUMI for the coming sessions. So we can use this range to make an Iron Condor Options strategy.

Iron Condor Options Strategy in MOTHERSUMI

Iron Condor Options Strategy in MOTHERSUMI

Possible adjustments for the Iron Condor Options strategy

Few things you should keep this in mind before you initiate this strategy.

  1. Because we have expiry next week, so adjustments will not work here. So follow this strategy based on the breakeven or max loss.
  2. First, you can follow these breakevens (108 & 132) as a stop-loss means you can close your strategy after a breakout or breakdown from this range.
  3. Or If the loss is more than 5000₹, close this strategy.

If you want to learn these option strategies with proper adjustments you can enroll in our Option Strategies – A Mentorship program.

I hope my articles are helping to trade with these options strategies. Which strategy you are using to generate your pay-check? Do let me know in the comment box.


Options Strategies – A Mentorship Program

On the 1st of September 2019, We have launched a new mentorship program for Option strategies, in which we are discussing how can we deploy these strategies? What rules we should follow before taking a trade? and what should be our adjustments if the script is moving against your direction?


DISCLAIMER: – we are not a SEBI research analyst. Views and the iron condor options strategy posted here only for educational purposes. There is no liability whatsoever for any loss arising from the use of this article or its contents. This product is not a recommendation to buy or sell, but rather a guideline to interpreting specified analysis methods.  This information should only be used by investors and traders who are aware of the risk inherent in securities trading.

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8+ Years working as a derivative trader, Option Writer, Blogger, Trader by passion, Keen Follower of Indian share market

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