operational guidance on straddle option

#1
i would be thankful if learned and experience members could guide on the strategy to be followed once you buy a straddle at the almost current market price and clear trends may not be emerging for a bullish or a bearish trend wthin the period of about 20 working days which could be left for the purchased put and call option to expire.

my experience has been bad when i bought a straddle on ongc -900 strike price with call at Rs.28/- and put 21/- at the begining of the period. The price pendulum swayed in both the directons of the strike price but the realisatisation from sale of both call and put never exceeded my purchase value and so i was never in profit.

So what i would be interested to be guided is should one go about selling the call and put for the straddle when premium on side exceeds my purchase value then wait for the trend again to reverse so that premium on the otherside to improve so that overall you are in profit even if you breakven when the second option is sold. Besdiues what i have obsereved is the premium on the favorable side do not increase as fast as the decrease in premium on the onfavourable side so that it may be impossibe at any given point of time to come out in profit.

valuable guidance on the tactics to operate the the stradde would be highly appriecaited.

and also, how would the strategy be if one starts with selling the straddle.

thks.
a gandhi.
 

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