Moderately directional with controlled risk
| Strategy Type | Directional / Time Decay Hybrid |
| Market Outlook | Moderately directional with controlled risk |
| Risk Profile | Limited to net debit paid (or less with favorable structure) |
| Reward Profile | Limited but potentially higher than calendar spreads |
| Time Horizon | Front month expiry to back month expiry (1-8 weeks) |
| Capital Requirement | Low to Moderate (₹8,000 - ₹35,000 per lot for NIFTY) |
| Margin Type | Debit spread - premium paid only, no additional margin |
| Best Used When | Expecting gradual directional move toward short strike, elevated front month IV, wanting defined risk directional exposure with theta benefit |
| NIFTY | 25 units per lot |
| BANKNIFTY | 15 units per lot |
| FINNIFTY | 25 units per lot |
| Stock Options | Varies by stock |
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