I am repeating my trading strategy.
I am selling option premium for OTM options.
Option premium is a decaying nature.
If underlying does not exceeds the strike price, premium will lose its value as expiry date nears.
Hence, when I sell, I expect the underlying will not cross the strike price.
In that case I will retain the premium I sold.
Here I will not wait till the option expires, and I will book if I am sufficiently at profit-that I am able to retain at least 50% of the premium amount I have sold.
I donot know how to calculate Options Greeks.
I could not find a website which can give me readymade Option greek value.
Anyhow I am not worrying about them.
By employing large amount of capital, I hoping to reach that level, where I can generate sufficient income to support my living.
For deciding OTM strike I am depending on MAX OPEN interest and maximum trading range of the underlying for 5 months.
Ofcourse these will not guarantee that underlying will not cross the OTM strike price, but probability of doing so is more.
In Iron-condor I will chose the boundary values for OTM strike prices, within which the underlying used to move.
In directional credit spread I will decide on the prevailing trend on break support/resistence levels. Here I will play single side, i,e. either put(if bullish) or call(if bearish). As my OTM strike will be on support / resistence level, in trending market, probability of success is astonishingly 100%.
But North korea will cause problem as it can make an uptrend market to go into down trend.