Weekly Iron Condor

Range-bound expectation for the week - profits if index stays within expected range

Quick Reference

Strategy Type	Weekly Premium Collection with Defined Risk
Market Outlook	Range-bound expectation for the week - profits if index stays within expected range
Risk Profile	Defined and limited - maximum loss known at entry
Reward Profile	Limited but consistent - collects premium decay over short duration
Time Horizon	Weekly cycle - typically 5-7 days, entered Monday/Tuesday, exits by Thursday expiry
Capital Requirement	Moderate (₹1,00,000 - ₹3,00,000 per iron condor)
Margin Type	SPAN margin - only one side margin required due to defined risk
Best Used When	Low/moderate IV environment, no major events expected during the week, clear support/resistance levels

When to Use This Strategy

Low/moderate IV environment, no major events expected during the week, clear support/resistance levels

India-Specific Notes

Weekly Expiry Schedule

NIFTY	Every Thursday (or previous trading day if Thursday is holiday)
BANKNIFTY	Every Wednesday (or previous trading day if Wednesday is holiday)
FINNIFTY	Every Tuesday (or previous trading day if Tuesday is holiday)
Monthly	Last Thursday of month is monthly expiry for all indices

Lot Sizes

NIFTY	25 units (₹25 per point per lot)
BANKNIFTY	15 units (₹15 per point per lot)
FINNIFTY	25 units (₹25 per point per lot)

Typical Weekly Ranges

NIFTY	300-500 points in normal weeks, 600-800 in volatile weeks
BANKNIFTY	800-1200 points in normal weeks, 1500-2500 in volatile weeks
FINNIFTY	400-600 points in normal weeks

Key Weekly Events

0	Monday: Week opening gap analysis
1	Tuesday: FINNIFTY expiry, FII/DII data
2	Wednesday: BANKNIFTY expiry, mid-week momentum
3	Thursday: NIFTY expiry, SGX cues important
4	Global: US markets, Fed speakers, economic data releases

Optimal Entry Days

NIFTY IC	Monday or Tuesday for Thursday expiry
BANKNIFTY IC	Monday for Wednesday expiry
FINNIFTY IC	Previous Thursday/Friday for Tuesday expiry