Guys, just loud thinking.
In such volatile times, would it be better to trade the monthly options ? Would those be less volatile ? (maybe less liquid, sure).
TP bhai trade spreads, especially good on expiry days, so ex BN at 45500 an we need bull view. Short 46K PE deep ITM, and depending on RR, buy 45600 or 45700 etc. in any options calc, see the payoff. If bearish, short 45K and buy something less deep.
For naked buying, then dont use SL, select strike that is fully affordable bcos SLs will get hit in volatility. Plus with SL then you need very good timing for trades. Its a burnout in longterm.
Usually decay hurts alot, bcos of timing, you get trade and then it sits there for an hr.
Another thing is to use butterflies, that are otm, this is near decay proof and good RR when far. as soon as spot reaches the level i book if it seems not to stay there.