This Short Strangle option strategy is for medium risk takers who is bullish on nifty and those who believe that nifty will trade in a range between 5200-5900. If you are the one then you can sell 5300PE and 5800CE which is trading at the premium of Rs 103.70 and Rs 30.90. And Maximum Profit potential if nifty expires between 5300 and 5800. i.e Total Profit of (103.70+30.90)x50=Rs6,627.50.
Lower Break Even = 5167.47
Upper Break Even = 5932.55
Above Open interest chart shows that 5200PE has the highest open interest among the option series which indicates that put writers are on the mood that
5200 will act as a support zone for the current option series