Expecting Large Move in Either Direction
| Strategy Type | ITM Call + ITM Put (Volatility Play with Intrinsic Value) |
| Market Outlook | Expecting Large Move in Either Direction |
| Risk Profile | Limited Risk (Net Premium Paid minus Intrinsic Value) |
| Reward Profile | Unlimited Profit Potential Both Directions |
| Time Horizon | 1-4 weeks |
| Capital Requirement | Very High (Both Options are ITM) |
| Margin Type | Premium Payment Only (No Margin Required) |
| Best Used When | Expecting significant volatility, prefer ITM options for lower time decay exposure |
| NIFTY | 25 units per lot |
| BANKNIFTY | 15 units per lot |
| Stock Options | Varies by stock |
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