3:15 PM Options Checklist

• BB-21 centerline cross upward → Bull Put credit spread
• BB-21 centerline cross downward → Bear Call credit spread

Bullish (BB-21 cross up) → Sell 24,800 PE + Buy 24,400 PE (400-pt wing, 1.6% of sold strike; aim net credit ₹90–130).
Bearish (BB-21 cross down) → Sell 25,200 CE + Buy 25,600 CE (400-pt wing).
If strike premiums don't hit the credit band, step one strike further OTM or use next-month expiry.

• Monitor (self-hedged, no mid-cycle SL)
• If T-7 today → close & rollover per fresh BB-21 signal

Close at T-7 from monthly expiry; re-enter based on that day's BB-21 reading (may flip direction).

• CMF crossed neg → pos → Bull Put credit spread
• CMF crossed pos → neg → Bear Call credit spread

Bullish (CMF flipped + ) → Sell 24,700 PE + Buy 24,400 PE (300-pt wing; target net credit ≥ ₹200).
Bearish (CMF flipped − ) → Sell 25,300 CE + Buy 25,600 CE (300-pt wing).
If credit is short of ₹200, widen wing toward 400 pts or step the sold strike closer to ATM.

• Monitor (self-hedged, no mid-cycle SL)
• If T-8 today → close & rollover per fresh CMF signal

Close at T-8; re-enter based on CMF reading at close.

• Daily close above EMA-53 → Bull Put credit spread (sell OTM PE + buy further-OTM PE hedge)
• Daily close below EMA-53 → Bear Call credit spread (sell OTM CE + buy further-OTM CE hedge)

Bullish (daily close above EMA-53) → Sell 24,800 PE + Buy 24,300 PE (500-pt wing, 2% of spot; sold leg 0.8% below CMP; target net credit 90–110).
Bearish (daily close below EMA-53) → Sell 25,200 CE + Buy 25,700 CE (500-pt wing; target net credit 90–130).
Reference-log trade (bullish, spot 17,557): Sell 17,400 PE @ 196.3 + Buy 16,900 PE @ 86.85 → net credit ≈ 109; max loss = 500 − 109 = 391.

• Monitor (max loss = wing − credit; no intraday stop)
• If 2nd-last Wed of sold-leg month → close & rebuild per current daily-close signal
• Skip entry/rollover on Muhurat / Budget / election result days

On the second-last Wednesday of the sold-leg’s expiry month, at 3:20 PM, close both legs. Re-check EMA-53 daily close and open a fresh credit spread (bull put / bear call) aligned with the current signal.

~2 trades/month · 8 of 9 quarters positive · ~₹65k per lot · ~200-pt observed max DD · 10-lot scale ≈ ₹6.5L over the reference window.

• Buy 1 × (spot + 300) CE
• Sell 2 × (spot + 600) CE
• Buy 1 × (spot + 1600) CE

Buy 1 × 25,300 CE · Sell 2 × 25,600 CE · Buy 1 × 26,600 CE  (next-month expiry).
Round to the nearest 50-pt tradable strike if needed. Capital = net debit of the 1-2-1 structure.

• MTM ≥ +2% of position cost → book profit
• Otherwise hold (self-hedged, no adjustment)

Cycle-based. Rebuild next last Friday from fresh spot — do not shift old strikes mechanically.

• Buy 1 × (spot + 300) CE
• Sell 2 × (spot + 600) CE
• Buy 1 × (spot + 1600) CE
• Set MTM alerts: +2.5% / −3% of deployed capital

Buy 1 × 25,300 CE · Sell 2 × 25,600 CE · Buy 1 × 26,600 CE  (next-month expiry).
Round to the nearest tradable strike (50-pt increments) if needed. Set alerts at +2.5% and −3% of deployed capital.

• MTM ≥ +2.5% of deployed capital → close all legs
• MTM ≤ −3% of deployed capital → close all legs
• Neither hit & at expiry → close at expiry

No intra-cycle rollover. Rebuild next last Friday from fresh spot.

• Let S = spot; X = 0.5% of S (round to tradable strike)
• Call fly: Buy S+0.5X / Sell 2× S+1.5X / Buy S+2.5X
• Put fly: Buy S−0.5X / Sell 2× S−1.5X / Buy S−2.5X
• Plan exit Tuesday ~3:25 PM

X ≈ 100 pts (0.5% of 25,000 ≈ 125, rounded down to stay on the 50-pt weekly grid).
Call fly: Buy 1 × 25,050 CE · Sell 2 × 25,150 CE · Buy 1 × 25,250 CE
Put fly: Buy 1 × 24,950 PE · Sell 2 × 24,850 PE · Buy 1 × 24,750 PE
All legs on the current weekly (Tuesday) expiry. Net structure = small debit, defined risk.

• Close at ~3:25 PM on weekly expiry

None. One-cycle expiry structure. Rebuild from fresh spot next Monday.

• 1D close BELOW midline → Sell CALL LEAP
• 1D close ABOVE midline → Sell PUT LEAP

Q2 → sold leg goes into June quarter-end expiry. Hedge = current (April) month, ~2% (≈ 500 pts) away.
Bullish (daily close above BB-21 mid) → Sell June 24,500 PE LEAPS (target premium ₹200–350) + Buy April 24,500 PE (target ₹20–50 on the ~2% rule; step the hedge strike only if premium is miles off the band).
Bearish (daily close below BB-21 mid) → Sell June 25,500 CE LEAPS + Buy April 25,500 CE hedge.
On 18th of each month, roll the monthly hedge forward (May, then June). LEAPS stays open until BB-21 signal flips.

• Monitor — 3:15 PM close vs BB-21 midline (hold until flip)
• If signal flipped → close LEAPS + hedge, open opposite LEAPS + new hedge
• If today is hedge-roll day → roll monthly hedge only; LEAPS untouched

Short LEAPS: no calendar-based roll — flipped only on BB-21 signal change. Monthly hedge: rolled on 18th of each month (prior business day if 18th is holiday / weekend).

• 2h close crossed VWMA-21 upward → sell far-month OTM PUT + buy same-month PUT hedge
• 2h close crossed VWMA-21 downward → sell far-month OTM CALL + buy same-month CALL hedge

15 April is before the 20th of month-2 of Q2 → sold leg goes to June quarter-end. Hedge = current-month (April) expiry.
Bullish (2h close above VWMA-21) → Sell June 24,500 PE (target premium ₹200–220) + Buy April 24,000 PE hedge (target ₹20–50; 500-pt wing, within 700-pt rule).
Bearish (2h close below VWMA-21) → Sell June 25,500 CE + Buy April 26,000 CE hedge.
If trade is placed on/after 25 April, the sold leg shifts one quarter → September expiry instead. At T-4 to April expiry, roll the hedge to May only; sold leg stays.

• If T-4 current-month expiry → roll same-month hedge only (put or call, matching direction)
• Keep far-month short leg untouched while VWMA-21 signal holds
• If 2h close flipped across VWMA-21 → close existing short + hedge, open opposite side

Hedge rolled monthly at T-4. Far-month short leg untouched unless 2h VWMA-21 signal flips or discretionary target reached.