{"id":218116,"date":"2026-08-25T10:49:28","date_gmt":"2026-08-25T05:19:28","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=218116"},"modified":"2026-08-25T10:49:29","modified_gmt":"2026-08-25T05:19:29","slug":"strip-strategy-bankex","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/strip-strategy-bankex\/","title":{"rendered":"Strip Strategy Bankex: Setup, Payoff and Risk Guide"},"content":{"rendered":"
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Bankex level used in this article: Rs 59,500 (as of illustrative reference level; verify current level on BSE). Next monthly (last Thursday of the month) expiry: 27 August 2026 (Thursday). Lot size 15. Weekly options on Bankex were discontinued in November 2024 under SEBI’s one weekly index per exchange rule; only monthly contracts remain.<\/em><\/p>\n

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

The strip strategy Bankex buys one at the money call and two at the money puts, all on the same strike and expiry, creating a weighted version of the long straddle that profits more from a downside move than an upside move of equal size. With Bankex at Rs 59,500, the strip strategy Bankex may be considered when a trader expects a large move in Bankex but leans bearish on the direction, wanting greater participation in a decline while still retaining some protection if the index rises instead. The net debit paid is the maximum loss, occurring if the index closes exactly at the strike at expiry.<\/p>\n<\/div>\n

The strip strategy Bankex modifies the standard long straddle by adding an extra put, shifting the payoff so that an equal magnitude move produces a larger gain on the downside than on the upside. This makes the this strategy a directional variant of the straddle, suited to a trader with a large move view and a bearish lean, rather than a purely neutral one. It is the mirror image of the strap strategy, which weights the payoff toward the upside instead.<\/p>\n

Because it involves buying three options in total rather than two, the strip strategy Bankex costs more upfront than a standard long straddle, and this higher cost should be weighed against the benefit of the added downside participation.<\/p>\n

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