Consistent options income strategy using Smart Levels

Theta - Options Trading
1

So I want to trade in a strategy similar to one given in below video.

  1. He trades only RUT Index only.
  2. He eans 5%/month in US market, that’d be like 10% in India.
  3. If his target is met for this month then he gets out of the trade and doesn’t put another. That way, if the direction goes bad later in the month, he is saved from that.
  4. What he does is sells a strangle or Iron condor seeing the smart levels.
  5. And the profit is consistent - he says.

Now I’ve been trying this for a few months, and everytime I put a trade, the trade goes much profitable at the outset, the moment I close in one leg towards the spot price, the price goes violent against that side.

This has gone for both upside (when index moved past 11000) and downside (recent move). I guess the best way would be to put an Iron Condor and take out chillar money.

Anybody else try this?

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