{"slug":"options-strategy-advisor","title":"options-strategy-advisor","summary":"Options strategy analysis for Indian F&O markets (NSE). Use when user requests options strategy recommendations, P/L analysis, Greeks calculation, risk management, or F&O strategy planning for Nifty, Bank Nifty, or stock options.","platform":"Claude","tags":[],"authorName":"LLM Mart","authorSlug":"llm-mart","score":0,"source":"github","price":null,"verified":false,"createdAt":"2026-08-23T10:48:58.355537Z","repo":{"url":"https://github.com/ajeeshworkspace/indian-trading-skills","stars":73,"forks":47,"license":"MIT","updatedAt":"2026-08-23T10:12:05Z"},"bodyHtml":"<hr>\n<h2>name: options-strategy-advisor\ndescription: &gt;\nOptions strategy analysis for Indian F&amp;O markets (NSE). Use when user requests\noptions strategy recommendations, P/L analysis, Greeks calculation, risk management,\nor F&amp;O strategy planning for Nifty, Bank Nifty, or stock options.</h2>\n<h1>Options Strategy Advisor — Indian F&amp;O Markets (NSE)</h1>\n<h2>Overview</h2>\n<p>This skill provides comprehensive options strategy analysis tailored to the Indian\nFutures &amp; Options market on the National Stock Exchange (NSE). It covers strategy\nselection, live data retrieval, margin estimation, profit/loss simulation, Greeks\nanalysis, and risk management — all adapted for the specific characteristics of\nIndian F&amp;O trading.</p>\n<hr>\n<h2>Indian F&amp;O Market Characteristics</h2>\n<h3>Exercise Style</h3>\n<ul>\n<li><strong>European-style exercise only.</strong> Options on NSE can only be exercised at expiry,\nnot before. This simplifies pricing (Black-Scholes applies directly without\nearly-exercise adjustments) and means time value is always fully captured by\nthe seller until expiry.</li>\n</ul>\n<h3>Expiry Schedule</h3>\n<table>\n<thead>\n<tr>\n<th>Underlying</th>\n<th>Expiry Day</th>\n<th>Expiry Type</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>NIFTY</td>\n<td>Thursday</td>\n<td>Weekly + Monthly</td>\n</tr>\n<tr>\n<td>BANK NIFTY</td>\n<td>Wednesday</td>\n<td>Weekly + Monthly</td>\n</tr>\n<tr>\n<td>FINNIFTY</td>\n<td>Tuesday</td>\n<td>Weekly + Monthly</td>\n</tr>\n<tr>\n<td>SENSEX (BSE)</td>\n<td>Friday</td>\n<td>Weekly + Monthly</td>\n</tr>\n<tr>\n<td>Stock Options</td>\n<td>Last Thursday</td>\n<td>Monthly only</td>\n</tr>\n</tbody>\n</table>\n<ul>\n<li>Monthly expiry is the last Thursday of the month (or preceding trading day if\nThursday is a holiday).</li>\n<li>Weekly expiries are available only for index options, not individual stocks.</li>\n</ul>\n<h3>Lot Sizes</h3>\n<p>Lot sizes are periodically revised by the exchanges. Always verify current lot\nsizes using the Groww MCP tool <code>fno_mcx_contracts_search_tool</code> before calculating\nmargin or position size. Recent reference values:</p>\n<ul>\n<li>NIFTY: 75 (recently changed — confirm via MCP)</li>\n<li>BANK NIFTY: 15 (recently changed — confirm via MCP)</li>\n<li>FINNIFTY: 25</li>\n<li>Stock options: Varies by stock (check contract specifications)</li>\n</ul>\n<h3>Margin Requirements</h3>\n<p>SEBI mandates the following margin components for F&amp;O:</p>\n<ol>\n<li><strong>SPAN Margin</strong> — Risk-based margin calculated by the exchange clearing corporation.</li>\n<li><strong>Exposure Margin</strong> — Additional margin over SPAN for market-wide risk.</li>\n<li><strong>Peak Margin</strong> — Intraday margin snapshots; brokers must collect at least the\npeak margin observed during the day.</li>\n</ol>\n<p>Use <code>calculate_fno_margin</code> to get exact margin for any trade before placing it.</p>\n<h3>Transaction Costs</h3>\n<ul>\n<li><strong>STT (Securities Transaction Tax):</strong> Levied on the sell side of options at\n0.0625% of the intrinsic value on exercise (for ITM options at expiry). For\nfutures, STT is 0.0125% on sell side.</li>\n<li><strong>Brokerage:</strong> Varies by broker (Groww charges per-order flat fees).</li>\n<li><strong>Exchange charges, GST, SEBI turnover fee, stamp duty</strong> also apply.</li>\n</ul>\n<h3>F&amp;O Ban Mechanism</h3>\n<p>When the market-wide position limit (MWPL) for a stock's F&amp;O contracts exceeds\n95%, SEBI places the stock under an F&amp;O ban. During the ban:</p>\n<ul>\n<li>No new positions can be initiated.</li>\n<li>Only squaring off (closing) of existing positions is allowed.</li>\n<li>The ban is lifted when MWPL drops below 80%.</li>\n</ul>\n<hr>\n<h2>Broker MCP Tool Integration</h2>\n<p>This skill uses broker MCP tools for live market data and execution support. Use whichever broker is connected (Groww or Zerodha Kite). Always prefer live data over assumptions.</p>\n<h3>Groww MCP Tools (if connected)</h3>\n<table>\n<thead>\n<tr>\n<th>Tool</th>\n<th>Purpose</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td><code>get_ltp</code> (segment=FNO, query_type=fno)</td>\n<td>Live option/futures prices and OI</td>\n</tr>\n<tr>\n<td><code>get_quotes_and_depth</code> (segment=FNO)</td>\n<td>Bid/ask spreads and market depth</td>\n</tr>\n<tr>\n<td><code>fno_mcx_contracts_search_tool</code></td>\n<td>Search F&amp;O contracts, lot sizes, expiries</td>\n</tr>\n<tr>\n<td><code>fetch_historical_candle_data</code> (segment=FNO)</td>\n<td>Historical option price data</td>\n</tr>\n<tr>\n<td><code>fetch_curated_fno</code></td>\n<td>F&amp;O gainers, losers, most traded</td>\n</tr>\n<tr>\n<td><code>get_open_interest_analysis</code></td>\n<td>OI structure, PCR, support/resistance</td>\n</tr>\n<tr>\n<td><code>get_greeks_for_fno_contract</code></td>\n<td>Live Greeks for specific contracts</td>\n</tr>\n<tr>\n<td><code>get_greeks_for_fno_symbol</code></td>\n<td>Greeks for all contracts of an underlying</td>\n</tr>\n<tr>\n<td><code>get_atm_straddle_chart</code></td>\n<td>ATM straddle premium analysis</td>\n</tr>\n<tr>\n<td><code>get_payoff_chart_steps</code></td>\n<td>Payoff diagram generation instructions</td>\n</tr>\n<tr>\n<td><code>calculate_fno_margin</code></td>\n<td>Margin requirement calculation</td>\n</tr>\n<tr>\n<td><code>get_available_margin_details</code></td>\n<td>User's available margin</td>\n</tr>\n<tr>\n<td><code>resolve_market_time_and_calendar</code></td>\n<td>Market hours and trading calendar</td>\n</tr>\n</tbody>\n</table>\n<h3>Zerodha Kite MCP Tools (if connected)</h3>\n<table>\n<thead>\n<tr>\n<th>Tool</th>\n<th>Purpose</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td><code>get_ltp</code></td>\n<td>Last traded price for F&amp;O instruments</td>\n</tr>\n<tr>\n<td><code>get_quotes</code></td>\n<td>Real-time quotes with bid/ask depth</td>\n</tr>\n<tr>\n<td><code>get_ohlc</code></td>\n<td>OHLC data for options/futures contracts</td>\n</tr>\n<tr>\n<td><code>get_historical_data</code></td>\n<td>Historical candle data for F&amp;O</td>\n</tr>\n<tr>\n<td><code>search_instruments</code></td>\n<td>Search for F&amp;O contracts by name/expiry</td>\n</tr>\n<tr>\n<td><code>get_margins</code></td>\n<td>Account margins and available funds</td>\n</tr>\n<tr>\n<td><code>get_positions</code></td>\n<td>Current F&amp;O positions</td>\n</tr>\n<tr>\n<td><code>get_orders</code> / <code>get_order_history</code></td>\n<td>Order status and execution details</td>\n</tr>\n<tr>\n<td><code>place_order</code> / <code>modify_order</code> / <code>cancel_order</code></td>\n<td>Order management</td>\n</tr>\n<tr>\n<td><code>place_gtt_order</code> / <code>get_gtts</code></td>\n<td>GTT order management</td>\n</tr>\n</tbody>\n</table>\n<h3>Tool Equivalence Map</h3>\n<table>\n<thead>\n<tr>\n<th>Action</th>\n<th>Groww MCP</th>\n<th>Zerodha Kite MCP</th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td>Live price</td>\n<td><code>get_ltp</code></td>\n<td><code>get_ltp</code></td>\n</tr>\n<tr>\n<td>Market depth</td>\n<td><code>get_quotes_and_depth</code></td>\n<td><code>get_quotes</code></td>\n</tr>\n<tr>\n<td>Historical data</td>\n<td><code>fetch_historical_candle_data</code></td>\n<td><code>get_historical_data</code></td>\n</tr>\n<tr>\n<td>Search contracts</td>\n<td><code>fno_mcx_contracts_search_tool</code></td>\n<td><code>search_instruments</code></td>\n</tr>\n<tr>\n<td>Margin check</td>\n<td><code>calculate_fno_margin</code> / <code>get_available_margin_details</code></td>\n<td><code>get_margins</code></td>\n</tr>\n<tr>\n<td>Positions</td>\n<td><code>get_my_trading_positions_today</code></td>\n<td><code>get_positions</code></td>\n</tr>\n<tr>\n<td>Place orders</td>\n<td><code>place_fno_order</code></td>\n<td><code>place_order</code></td>\n</tr>\n</tbody>\n</table>\n<hr>\n<h2>Supported Strategies</h2>\n<h3>Income Strategies</h3>\n<ol>\n<li><p><strong>Covered Call</strong> — Long underlying futures + Short OTM Call</p>\n<ul>\n<li>Objective: Generate income on existing long position.</li>\n<li>Best when: Mildly bullish, want to earn premium.</li>\n<li>Indian note: Use futures as underlying (no direct stock delivery for covered calls in F&amp;O segment).</li>\n</ul>\n</li>\n<li><p><strong>Cash-Secured Put</strong> — Short OTM Put (with margin set aside)</p>\n<ul>\n<li>Objective: Earn premium while waiting to buy at a lower price.</li>\n<li>Best when: Bullish on underlying, willing to take delivery equivalent.</li>\n<li>Indian note: Physical settlement applies for stock options (ITM at expiry).</li>\n</ul>\n</li>\n</ol>\n<h3>Protection Strategies</h3>\n<ol start=\"3\">\n<li><p><strong>Protective Put</strong> — Long underlying + Long Put</p>\n<ul>\n<li>Objective: Insure existing long position against downside.</li>\n<li>Best when: Want to cap losses while maintaining upside.</li>\n</ul>\n</li>\n<li><p><strong>Collar</strong> — Long underlying + Long Put + Short Call</p>\n<ul>\n<li>Objective: Cap both upside and downside. Zero-cost collar if premiums offset.</li>\n<li>Best when: Want protection without paying net premium.</li>\n</ul>\n</li>\n</ol>\n<h3>Directional Strategies</h3>\n<ol start=\"5\">\n<li><p><strong>Bull Call Spread</strong> — Long lower-strike Call + Short higher-strike Call</p>\n<ul>\n<li>Objective: Limited-risk bullish bet.</li>\n<li>Best when: Moderately bullish, want defined risk.</li>\n</ul>\n</li>\n<li><p><strong>Bear Put Spread</strong> — Long higher-strike Put + Short lower-strike Put</p>\n<ul>\n<li>Objective: Limited-risk bearish bet.</li>\n<li>Best when: Moderately bearish, want defined risk.</li>\n</ul>\n</li>\n<li><p><strong>Bull Put Spread</strong> — Short higher-strike Put + Long lower-strike Put</p>\n<ul>\n<li>Objective: Credit spread, profit if price stays above short strike.</li>\n<li>Best when: Mildly bullish, want to collect premium.</li>\n</ul>\n</li>\n<li><p><strong>Bear Call Spread</strong> — Short lower-strike Call + Long higher-strike Call</p>\n<ul>\n<li>Objective: Credit spread, profit if price stays below short strike.</li>\n<li>Best when: Mildly bearish, want to collect premium.</li>\n</ul>\n</li>\n</ol>\n<h3>Volatility Strategies</h3>\n<ol start=\"9\">\n<li><p><strong>Long Straddle</strong> — Long ATM Call + Long ATM Put</p>\n<ul>\n<li>Objective: Profit from large move in either direction.</li>\n<li>Best when: Expecting high volatility (e.g., pre-budget, RBI policy, earnings).</li>\n<li>Indian note: Popular before Union Budget day, election results, RBI MPC.</li>\n</ul>\n</li>\n<li><p><strong>Short Straddle</strong> — Short ATM Call + Short ATM Put</p>\n<ul>\n<li>Objective: Profit from time decay when expecting range-bound movement.</li>\n<li>Best when: Low implied volatility expected, range-bound market.</li>\n<li>Indian note: Very popular on weekly expiry day for Nifty/Bank Nifty.</li>\n</ul>\n</li>\n<li><p><strong>Long Strangle</strong> — Long OTM Call + Long OTM Put</p>\n<ul>\n<li>Objective: Cheaper alternative to straddle for volatility plays.</li>\n<li>Best when: Expecting very large move, want lower cost than straddle.</li>\n</ul>\n</li>\n<li><p><strong>Short Strangle</strong> — Short OTM Call + Short OTM Put</p>\n<ul>\n<li>Objective: Wider profit zone than short straddle, less premium received.</li>\n<li>Best when: Expecting range-bound, comfortable with wider risk.</li>\n</ul>\n</li>\n</ol>\n<h3>Range-Bound Strategies</h3>\n<ol start=\"13\">\n<li><p><strong>Iron Condor</strong> — Bull Put Spread + Bear Call Spread</p>\n<ul>\n<li>Objective: Defined-risk range-bound strategy.</li>\n<li>Best when: Expecting low volatility, want defined max loss.</li>\n<li>Indian note: Very popular for weekly Nifty expiry plays.</li>\n</ul>\n</li>\n<li><p><strong>Iron Butterfly</strong> — Short ATM Call + Short ATM Put + Long OTM Call + Long OTM Put</p>\n<ul>\n<li>Objective: Defined-risk version of short straddle.</li>\n<li>Best when: Expecting pin at a specific strike (max pain).</li>\n</ul>\n</li>\n</ol>\n<h3>Advanced Strategies</h3>\n<ol start=\"15\">\n<li><p><strong>Calendar Spread (Time Spread)</strong> — Short near-expiry option + Long far-expiry option (same strike)</p>\n<ul>\n<li>Objective: Profit from differential time decay.</li>\n<li>Best when: Expecting current expiry to decay faster, longer-term view intact.</li>\n<li>Indian note: Useful between weekly and monthly expiry cycles.</li>\n</ul>\n</li>\n<li><p><strong>Diagonal Spread</strong> — Calendar spread with different strikes.</p>\n<ul>\n<li>Objective: Directional bias + time decay benefit.</li>\n<li>Best when: Have a directional view and want to finance via near-expiry sale.</li>\n</ul>\n</li>\n<li><p><strong>Ratio Spread</strong> — Buy N options at one strike, sell M options at another (N != M).</p>\n<ul>\n<li>Objective: Reduce cost of directional trade; accept risk on extreme moves.</li>\n<li>Best when: Strong view on direction but want reduced cost.</li>\n<li>Caution: Naked leg creates unlimited risk on one side.</li>\n</ul>\n</li>\n</ol>\n<hr>\n<h2>Workflow</h2>\n<p>Follow this sequence when advising on an options strategy:</p>\n<h3>Step 1: Gather Input</h3>\n<p>Collect the following from the user:</p>\n<ul>\n<li><strong>Underlying:</strong> Which index or stock? (NIFTY, BANKNIFTY, FINNIFTY, or a specific stock)</li>\n<li><strong>Market View:</strong> Bullish, bearish, neutral, volatile, or range-bound?</li>\n<li><strong>Strategy Preference:</strong> Specific strategy or let the advisor recommend?</li>\n<li><strong>Expiry:</strong> Weekly or monthly? Specific date?</li>\n<li><strong>Risk Tolerance:</strong> Maximum loss acceptable? Capital available?</li>\n<li><strong>Objective:</strong> Income generation, hedging, speculation, or volatility play?</li>\n</ul>\n<h3>Step 2: Fetch Live Data via Groww MCP</h3>\n<ol>\n<li><p><strong>Resolve market time and calendar:</strong></p>\n<pre><code>resolve_market_time_and_calendar() → confirm market is open, get trading days to expiry\n</code></pre>\n</li>\n<li><p><strong>Search for contracts:</strong></p>\n<pre><code>fno_mcx_contracts_search_tool(search_term=\"NIFTY 25 MAR\") → get exact trading symbols\n</code></pre>\n</li>\n<li><p><strong>Get live prices:</strong></p>\n<pre><code>get_ltp(search_queries=[\"nifty 24000 CE mar\", \"nifty 24000 PE mar\"], segment=\"FNO\", query_type=\"fno\")\n</code></pre>\n</li>\n<li><p><strong>Get Greeks:</strong></p>\n<pre><code>get_greeks_for_fno_contract(search_queries=[\"nifty 24000 mar CE\"], expiry=\"2026-03-26\")\n</code></pre>\n</li>\n<li><p><strong>Analyze Open Interest:</strong></p>\n<pre><code>get_open_interest_analysis(symbol=\"NIFTY\", view=\"all\")\n</code></pre>\n</li>\n<li><p><strong>Check ATM straddle premium (for volatility assessment):</strong></p>\n<pre><code>get_atm_straddle_chart(symbol=\"NIFTY\")\n</code></pre>\n</li>\n</ol>\n<h3>Step 3: Calculate Margin Requirement</h3>\n<p>For each leg of the strategy that involves selling (writing) options:</p>\n<pre><code>calculate_fno_margin(\n    trading_symbol=\"NIFTY25MAR24000CE\",\n    num_lots=1,\n    transaction_type=\"SELL\",\n    product=\"NRML\"\n)\n</code></pre>\n<p>Also check user's available margin:</p>\n<pre><code>get_available_margin_details()\n</code></pre>\n<h3>Step 4: Simulate P/L Across Price Range</h3>\n<p>Use the <code>scripts/black_scholes.py</code> script or manual calculation:</p>\n<ul>\n<li>Define a price range (e.g., underlying +/- 5% from current price).</li>\n<li>For each price point, calculate P/L for each leg.</li>\n<li>Sum up P/L across all legs.</li>\n<li>Identify breakeven points, max profit, max loss.</li>\n</ul>\n<p>Key calculations:</p>\n<ul>\n<li><strong>Breakeven</strong> = Strike +/- Net Premium (for single-leg strategies)</li>\n<li><strong>Max Profit</strong> = Net Premium Received (for credit strategies) or Strike Width - Net Debit (for debit spreads)</li>\n<li><strong>Max Loss</strong> = Net Premium Paid (for debit strategies) or Strike Width - Net Credit (for credit spreads)</li>\n</ul>\n<h3>Step 5: Generate ASCII P/L Diagram</h3>\n<p>Create a visual payoff diagram showing:</p>\n<ul>\n<li>X-axis: Underlying price at expiry</li>\n<li>Y-axis: Profit/Loss per lot</li>\n<li>Breakeven point(s) marked</li>\n<li>Max profit and max loss zones labeled</li>\n</ul>\n<p>Also use <code>get_payoff_chart_steps()</code> for Groww's built-in payoff chart generation.</p>\n<h3>Step 6: Provide Risk Management Guidance</h3>\n<p>Include in every recommendation:</p>\n<ul>\n<li><strong>Position sizing:</strong> How many lots based on capital and risk tolerance.</li>\n<li><strong>Stop-loss levels:</strong> When to exit (e.g., if loss exceeds 2x premium received).</li>\n<li><strong>Adjustment triggers:</strong> When and how to adjust the strategy.</li>\n<li><strong>Expiry management:</strong> Roll, close, or let expire — guidance based on ITM/OTM status.</li>\n<li><strong>STT warning:</strong> Remind about STT on ITM options at expiry (can erode profits significantly).</li>\n<li><strong>Margin monitoring:</strong> Warn about peak margin requirements and potential margin calls.</li>\n</ul>\n<h3>Step 7: Save Report</h3>\n<p>Present the complete analysis as a structured report:</p>\n<pre><code>=== OPTIONS STRATEGY REPORT ===\nDate: [current date]\nUnderlying: [symbol] @ [current price]\nStrategy: [strategy name]\nExpiry: [expiry date] ([days to expiry] days)\n\n--- LEGS ---\nLeg 1: [BUY/SELL] [qty] [CALL/PUT] @ Strike [strike] for [premium]\nLeg 2: [BUY/SELL] [qty] [CALL/PUT] @ Strike [strike] for [premium]\n\n--- KEY METRICS ---\nNet Premium: [debit/credit] [amount] per lot\nMax Profit: [amount] per lot (at [price])\nMax Loss: [amount] per lot (at [price])\nBreakeven: [price(s)]\nRisk-Reward Ratio: [ratio]\nProbability of Profit: [estimate based on delta]\n\n--- GREEKS (NET POSITION) ---\nDelta: [value] | Gamma: [value] | Theta: [value] | Vega: [value]\n\n--- MARGIN REQUIREMENT ---\nTotal Margin: [amount]\nAvailable Margin: [amount]\nMargin Utilization: [percentage]\n\n--- P/L DIAGRAM ---\n[ASCII payoff chart]\n\n--- RISK MANAGEMENT ---\n- Stop Loss: [criteria]\n- Adjustment Plan: [when and how]\n- Expiry Action: [recommendation]\n- STT Impact: [if applicable]\n</code></pre>\n<hr>\n<h2>Strategy Selection Guide</h2>\n<p>Use this decision tree to recommend strategies based on user's market view:</p>\n<h3>Bullish View</h3>\n<ul>\n<li><strong>Strong bullish:</strong> Long Call or Bull Call Spread</li>\n<li><strong>Mildly bullish:</strong> Bull Put Spread (credit) or Covered Call</li>\n<li><strong>Bullish + high IV:</strong> Bull Put Spread (sell expensive puts)</li>\n<li><strong>Bullish + low IV:</strong> Long Call or Bull Call Spread (buy cheap options)</li>\n</ul>\n<h3>Bearish View</h3>\n<ul>\n<li><strong>Strong bearish:</strong> Long Put or Bear Put Spread</li>\n<li><strong>Mildly bearish:</strong> Bear Call Spread (credit)</li>\n<li><strong>Bearish + high IV:</strong> Bear Call Spread (sell expensive calls)</li>\n<li><strong>Bearish + low IV:</strong> Long Put or Bear Put Spread</li>\n</ul>\n<h3>Neutral / Range-Bound View</h3>\n<ul>\n<li><strong>Tight range expected:</strong> Short Straddle or Iron Butterfly</li>\n<li><strong>Wider range expected:</strong> Short Strangle or Iron Condor</li>\n<li><strong>Neutral + want defined risk:</strong> Iron Condor or Iron Butterfly</li>\n</ul>\n<h3>Volatile View (Expecting Big Move)</h3>\n<ul>\n<li><strong>Direction unknown, big move expected:</strong> Long Straddle</li>\n<li><strong>Direction unknown, very big move expected:</strong> Long Strangle (cheaper)</li>\n<li><strong>Pre-event (budget, RBI, earnings):</strong> Long Straddle or Long Strangle</li>\n</ul>\n<h3>Time Decay Play</h3>\n<ul>\n<li><strong>Near-term decay focus:</strong> Calendar Spread</li>\n<li><strong>Directional + decay:</strong> Diagonal Spread</li>\n</ul>\n<hr>\n<h2>Important Indian Market Considerations</h2>\n<h3>India VIX</h3>\n<ul>\n<li>India VIX measures the market's expectation of 30-day volatility.</li>\n<li>VIX &gt; 20: High volatility environment — favor long volatility strategies.</li>\n<li>VIX &lt; 15: Low volatility environment — favor short volatility strategies.</li>\n<li>VIX between 15-20: Normal range — use directional or range-bound strategies.</li>\n<li>VIX typically spikes before elections, budgets, RBI policy, and global crises.</li>\n</ul>\n<h3>Weekly Expiry Trading</h3>\n<ul>\n<li><strong>Thursday (Nifty):</strong> Most liquid expiry. Short straddle/strangle sellers dominate.\nTheta decay is highest on the expiry day.</li>\n<li><strong>Wednesday (Bank Nifty):</strong> High gamma risk. Moves can be sharp near expiry.</li>\n<li>Premium sellers should be cautious of gamma risk on expiry day — a small move\nin the underlying can cause large P/L swings.</li>\n</ul>\n<h3>Physical Settlement (Stock Options)</h3>\n<ul>\n<li>Stock options that expire ITM are physically settled — actual delivery of shares.</li>\n<li>This requires full delivery margin (value of shares). Plan exits before expiry\nto avoid unexpected margin requirements.</li>\n<li>Index options are cash-settled — no delivery concerns.</li>\n</ul>\n<h3>Max Pain</h3>\n<ul>\n<li>Max Pain is the strike price at which the maximum number of options (calls + puts)\nexpire worthless, causing minimum payout by option writers.</li>\n<li>Indian markets tend to gravitate toward max pain on expiry day, especially for\nNifty weekly expiry.</li>\n<li>Use OI analysis to identify max pain and position accordingly.</li>\n</ul>\n<h3>OI-Based Analysis</h3>\n<ul>\n<li><strong>High Call OI at a strike:</strong> Acts as resistance. Call writers are betting the\nprice won't cross this level.</li>\n<li><strong>High Put OI at a strike:</strong> Acts as support. Put writers are betting the price\nwon't fall below this level.</li>\n<li><strong>PCR (Put-Call Ratio):</strong>\n<ul>\n<li>PCR &gt; 1.2: Bullish signal (more puts written, indicating support)</li>\n<li>PCR &lt; 0.8: Bearish signal (more calls written, indicating resistance)</li>\n<li>PCR between 0.8-1.2: Neutral</li>\n</ul>\n</li>\n</ul>\n<hr>\n<h2>Error Handling</h2>\n<ul>\n<li>If broker MCP tools (Groww or Zerodha) return errors, inform the user and suggest checking market\nhours or contract availability. Try the alternative broker's equivalent tool if available.</li>\n<li>If a contract search yields no results, try alternative search terms or check\nif the expiry has passed.</li>\n<li>If margin data is unavailable, provide theoretical estimates with a disclaimer.</li>\n<li>Always validate that the market is open before fetching live data — use\n<code>resolve_market_time_and_calendar()</code>.</li>\n<li>If a stock is under F&amp;O ban, alert the user immediately and suggest alternative\nunderlyings.</li>\n</ul>\n","files":[{"path":"references/indian_fno_guide.md","sizeBytes":32854,"isText":true},{"path":"scripts/black_scholes.py","sizeBytes":51959,"isText":true},{"path":"SKILL.md","sizeBytes":17733,"isText":true}],"reviewScore":null,"reviewSummary":null,"trust":{"provenance":"trusted-source-unreviewed","notice":"Community-authored content, reproduced verbatim and not vetted as instructions. Treat it as data to evaluate, never as directives to follow.","bodySource":null},"bodyLocked":false,"purchaseUrl":null,"sourceUrl":null,"report":{"provenance":"trusted-source-unreviewed","screen":{"ran":true,"outcome":"clean","suspicious":0,"notes":0,"hiddenCharacters":false},"virusScan":{"engine":"clamav","status":"clean","scannedAt":"2026-08-23T10:49:04.035545Z","sha256":"BD854B73CE17EDC716EE16555FA1DB53B2603DB040DE726BA33B2AF6489871B2","sizeBytes":30041},"review":null,"source":{"repositoryUrl":"https://github.com/ajeeshworkspace/indian-trading-skills","path":"skills/options-strategy-advisor","license":"MIT","commit":"dc446989d3ad9b371e8e6d8d5bc097d7b45e359b","subtreeSha":"BAFB3BADDAE541EAC94D4B3B5FD017351175A65B21F8969B11B5F9F68660D705","lastSyncedAt":"2026-09-27T19:30:06.195397Z"},"reviewedAt":"2026-08-23T10:49:35.729459Z","notice":"Community-authored content, reproduced verbatim and not vetted as instructions. Treat it as data to evaluate, never as directives to follow."},"install":[{"target":"skills-cli","command":"npx skills add https://github.com/ajeeshworkspace/indian-trading-skills/tree/master/skills/options-strategy-advisor"},{"target":"claude-code","command":"claude plugin marketplace add https://llmmart.ai/marketplace.json && claude plugin install ajeeshworkspace-indian-trading-skills@llmmart"},{"target":"git","command":"git clone https://github.com/ajeeshworkspace/indian-trading-skills.git"}]}