One of the most popular option selling strategies is the Short Strangle. This involves selling an out-of-the-money call and an out-of-the-money put on the same underlying asset and expiry. The idea is to profit from a lack of major price movement. For example, if Nifty is trading at 22,000, a trader may sell the 22,400 Call and the 21,600 Put. If Nifty stays between those two levels until expiry, both options expire worthless, and the trader keeps the premium received. This strategy works best in low-volatility, sideways markets. However, it carries unlimited risk if the market moves significantly in either direction. Therefore, it’s advisable to use hedged versions—such as buying farther OTM options—to limit the downside while still collecting a net premium.