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Option Trading Strategy for budget Day!

Bank Nifty shows wild swing on budget day during presentation of Budget Speech by FM. High to low swing could be 500-800 points. How to take advantage of this wild moves? 

One can buy call option and put option in equal lots just 300 points away from Bank Nifty Index level at 3.15-3.25 pm on Jan 31. The option prices will be high due to increase in volatility index due to uncertainty of Budget outcome on Feb 1.

On Feb 1 when Index moves wildly one can sell option that is in good profit (Expect 3 times of buy price). If you are lucky and alert, both put and call options can give 3 times value of buy price. So sell them when they are good profit and then stay away till Bank Nifty takes clear direction.

Chances of losses are low as you can at least cover your capital as it is observed that Index wildly move during speech of FM. Do not enter into trade just before completion of speech as option prices will sharply drop once event is over due to fall in volatility.
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