{"id":217667,"date":"2026-08-25T12:16:25","date_gmt":"2026-08-25T06:46:25","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=217667"},"modified":"2026-08-25T12:16:27","modified_gmt":"2026-08-25T06:46:27","slug":"jade-lizard-sensex","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/jade-lizard-sensex\/","title":{"rendered":"Jade Lizard Sensex: Setup, Payoff and Risk Guide"},"content":{"rendered":"
<\/div>\n

Sensex level used in this article: Rs 77,538 (as of 20 Aug 2026). Next weekly (Thursday) and monthly (last Thursday of the month) expiry: 27 August 2026 (Thursday). Lot size 10. Sensex retained its weekly expiry slot on BSE under SEBI’s one weekly index per exchange rule; Bankex and Sensex 50 weekly contracts were discontinued instead, in November 2024. Both weekly and monthly Sensex contracts remain available.<\/em><\/p>\n

\n

Quick Answer<\/strong><\/p>\n

The jade lizard Sensex combines a short out of the money put with a bear call spread (a short call and a further out of the money long call), all on the same expiry. With Sensex at Rs 77,538, the jade lizard Sensex is designed so that the total credit collected is greater than or equal to the width of the call spread, which removes upside risk entirely: the position cannot lose money if the index rises, regardless of how far. The trade off is that the short put retains undefined downside risk, similar to a naked short put, making the jade lizard Sensex a directionally asymmetric strategy that profits from a stable to moderately bullish index.<\/p>\n<\/div>\n

The defining feature of the this strategy is its no upside risk design. By collecting a total credit that meets or exceeds the call spread width, the position sacrifices upside profit potential above the credit already collected in exchange for eliminating the possibility of a loss if the index rallies. This distinguishes the jade lizard Sensex from a simple short strangle or iron condor, both of which carry two sided risk.<\/p>\n

The the position is generally considered a premium collection strategy suited to a neutral to mildly bullish outlook, since it explicitly removes concern about the index rising while retaining exposure to a significant decline, similar to selling a naked put.<\/p>\n

Click Here – Get Free Investment Predictions<\/strong><\/a><\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n