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๐Ÿง  Options Strategy Dashboard (Straddle)

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๐Ÿง  STWP Options Strategy Dashboard (Long/Short Straddle)
Author: simpletradewithpatience
Markets: NSE (India)
Best timeframe: 1-second chart
Built with: Pine Script v5
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๐Ÿ“Œ Overview
A real-time options strategy dashboard designed for NSE Straddles:
โœ… Long Straddle โ†’ Buy ATM CE + Buy ATM PE
โœ… Short Straddle โ†’ Sell ATM CE + Sell ATM PE
This tool provides a visual, tick-by-tick dashboard for monitoring:
Live premiums, real-time PnL, ROI, Greeks, and risk conditions โ€” all in one screen.
Itโ€™s fully manual and built for educational & tracking purposes only โ€” not for automation.
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๐Ÿ“Œ Key Features
โœ… Track Long & Short Straddles
โœ… Live LTP tracking via dual symbol inputs
โœ… Real-time PnL, breakeven, max profit/loss
โœ… ROI & Risk:Reward calculation
โœ… Smart Exit logic with context-based alerts
โœ… Invalidation logic via Reversal Range breach
โœ… Manual input of Greeks (Delta, Gamma, Theta, IV%)
โœ… Greek-based warnings: Gamma Risk, IV Crush, Theta Decay
โœ… Days to Expiry (DTE) tracking
โœ… Fully customizable alert system
โœ… Clean emoji-labelled dashboard UI
โœ… Built for Indian NSE Options
โœ… Requires 1-second chart for correct functioning
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๐Ÿ“Œ Option Symbol Inputs (LTP Tracking)
โœ… Call Symbol: ATM CE (same strike as Put)
โœ… Put Symbol: ATM PE (same strike as Call)
โœ… Symbol Tips: Use Tradingview dropdown to select NSE option symbols like NSE:RELIANCE25JUL3000CE and PE
โš ๏ธ Providing valid option symbols is essential โ€” all live data relies on them.
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๐Ÿ“Œ Trade Setup Parameters
Spot Price at Entry
Strike Price (same for both legs)
Buy Price (for Long Straddle)
Sell Price (for Short Straddle)
Lot Size & Number of Lots
Loss Bearable Amount (โ‚น) โ†’ Used by Smart Exit logic to trigger warnings
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๐Ÿ“Œ Expiry Date Input
Expiry Year, Month, and Day
๐ŸŽฏ Used to calculate Days to Expiry (DTE) and enable:
โฑ๏ธ Expiry alerts like โ€œLess than 2 Daysโ€, โ€œTheta Riskโ€, etc.
๐Ÿ“‰ Smart Exit logic dynamically adapts based on DTE
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๐Ÿ“Œ Greeks (Optional)
๐Ÿ”น Default: Leave Greeks empty
๐Ÿ”น Optional: Input Delta, Gamma, Theta, IV for both Call & Put
๐Ÿ” Enables:
Net Delta, Gamma, Theta, IV
Greek-based alerts and visual verdict
โ€ƒ๐ŸŸข Conservativeโ€ƒ๐ŸŸก Moderateโ€ƒ๐Ÿ”ด Aggressive Risk
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๐Ÿ“Œ Dashboard Display
๐Ÿ“ˆ Strategy Type: Long or Short Straddle
๐Ÿ’น Entry Premiums & Live Net LTP
๐Ÿ“Š Net Premium, Max Profit/Loss
๐Ÿ“‰ Real-time PnL (tick-level)
๐Ÿ“ Breakeven range
๐Ÿ“Š ROI %, Risk:Reward & trade verdict
๐Ÿšฆ Smart Exit verdict: Hold, Exit Soon, or Book Loss
๐Ÿ” Reversal Range for invalidation
๐Ÿ“† Days to Expiry (DTE)
๐Ÿ“ Greek Data (if enabled) with Net & Avg values
โš ๏ธ Greek Risk Verdict for managing directional exposure
syot kilat
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๐Ÿ“Œ Alert System (Built-in Alerts)
๐ŸŽฏ Target Profit Hit
โŒ Max Loss Reached
๐Ÿ›‘ Loss Bearable Limit Breached
๐Ÿ“ Hold Signal
๐Ÿ“‰ Book Loss / Exit Soon
โณ Expiry Nearing
โš ๏ธ Reversal Breach (spot breaks outside expected range)
๐Ÿ’ฅ High Gamma Risk (> ยฑ0.05)
๐Ÿ“‰ High IV Alert (> 35%)
๐Ÿšจ Combined Master Alert โ€” if any key risk triggers
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๐Ÿ“Œ Smart Exit System
โš™๏ธ A dynamic, context-aware trade assistant
โœ… Assesses price movement, expiry risk, and loss thresholds
โœ… Provides real-time exit suggestions to prevent overholding
โœ… Filters emotional decisions โ€” encourages disciplined trading
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๐Ÿ“Œ Reversal Exit Logic (For Straddles)
๐Ÿ” Detects directional invalidation
Reversal Range = ยฑ35% of Total Premium around strike price
โš ๏ธ If spot breaches this range, trade likely invalid โ€” exit advised
๐Ÿ“‰ Works as directional filter for neutral strategies
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โš ๏ธ Important Notes
โœ… Built for NSE Options โ€“ not suitable for other exchanges
โœ… Designed only for Long/Short Straddles
โœ… Use on 1-second chart only
โŒ Will malfunction on higher timeframes
โœ… For manual use only โ€” no automation
โœ… For educational and research use only
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๐Ÿ’ฌ How to Use This Dashboard
1๏ธโƒฃ Select Strategy
โ€ƒLong Straddle (Buy Both Legs) or Short Straddle (Sell Both Legs)
2๏ธโƒฃ Input Symbols
โ€ƒUse accurate NSE symbols for CE & PE
3๏ธโƒฃ Enter Strike & Premiums
โ€ƒSame strike for both legs. Add Buy or Sell prices
4๏ธโƒฃ (Optional) Enter Greeks
โ€ƒAdd Delta, Gamma, Theta, IV for both legs
5๏ธโƒฃ Set Expiry
โ€ƒYear, Month, Day โ€” enables DTE alerts
6๏ธโƒฃ Track Dashboard
โ€ƒLive PnL, Net Premium, ROI, Reversal Range, Smart Exit
7๏ธโƒฃ Enable Alerts
โ€ƒGet push/email/sound notifications for PnL, expiry, and Greek risks
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๐Ÿค Final Note
This tool was built with patience and care by simpletradewithpatience to help fellow options traders trade more objectively, systematically, and confidently.
Feel free to share feedback on Tradingview.
Happy Trading! ๐Ÿ“ˆ
Stay disciplined. Stay smart.
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๐Ÿ”  Glossary
PnL โ€“ Profit & Loss
LTP โ€“ Last Traded Price
IV โ€“ Implied Volatility
DTE โ€“ Days to Expiry
ROI โ€“ Return on Investment
R:R โ€“ Risk to Reward Ratio
CE / PE โ€“ Call / Put Option
SEBI โ€“ Securities and Exchange Board of India
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โš ๏ธ Disclaimer
This script is for educational and research purposes only.
I am not a SEBI-registered advisor.
No buy or sell recommendations are made.
Trading options involves significant risk.
Use proper risk management and always consult a licensed advisor if in doubt.
The author is not responsible for any financial losses incurred.
By using this tool, you agree to these terms.
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Nota Keluaran
Update: Now you can select if new trade or running trade just before entering greeks and output will be sown in Trade Outcome cell in the table.
syot kilat

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