I plan to write Nifty Options pairs, like 2 lots of PE and 2 lots of CE.
And do 10-15 trades daily. I need just 5 points gain per trade and I am happy.
I hope this works ?
For selling option margin money itself will be around 30K for ATM strike.For 1 lac you will be able to sell only 3 lots.
Further when you sell you are expecting the strike to expire worthless,hence you have to identify the strikes call or puts which will expire worthless.A hungomongous job.
Day trading by selling options is not a good idea as decay because of time will be very small,as it is the start of the month.Further options have the characteristic to jump if index goes your way but go down in small amounts.Hence traders buy options and don't sell options for day trading.
But please try and don't be disappointed if you loose a substantial amount in the next 1 year,as it takes a lot of time losses to perfect the system.