Trading is boring but this strategy makes me XXX,XXX/Month

ELI5 / TLDR

A SEBI-registered trading educator named Gokul Chhabra sits down to explain how he day-trades stock options (Reliance, Adani, HDFC) rather than the index options (Nifty, Bank Nifty) everyone else crowds into. His pitch: there are 220-odd stocks with options, so something is always moving, the lot sizes are smaller, and you can start with ten thousand rupees. The actual method is an old, plain price-action setup called OHCL — find a stock that opens flat, work out which way it was trending, wait for the market to fake out the weak hands in the first fifteen minutes, then enter when the real move begins. Entry is the easy part; the whole video is really about knowing where to get out.

The Full Story

Why stocks, not the index

The frame Chhabra keeps returning to is variety. Everyone who walks into options is handed three names — Nifty, Bank Nifty, Sensex — and told that’s the market. He thinks that’s a dead end.

देर आर अप्रॉक्सिमेटली टू ट्वेंटी प्लस स्टॉक्स ट्रेडिंग इन द मार्केट जिनके ऑप्शंस अवेलेबल है।

Roughly 220 stocks have tradeable options. If the index goes sideways and dies for the afternoon, a stock is probably still running somewhere. He also picks at a comfortable myth: that the index is just the sum of its fifty constituents, so you can read one from the other. His view is that Nifty and Bank Nifty have become their own animals — Bank Nifty can sprint while HDFC Bank sits flat. Trading the index off its components, he says, used to work and no longer reliably does.

The practical case for stock options is humbler: smaller lot sizes. The same trade that needs twenty to thirty thousand rupees of margin in an index option can be done in a single stock-option lot for ten. For a beginner who just wants to see a real profit and loss in their account, that lower entry fee matters more than anything clever.

The scanner, the night before, and Trump’s feed

Before any setup there’s filtering. He uses Scanx, a free scanner on the Dhan platform that runs without a login, and narrows the universe to F&O stocks with a meaningful intraday move. One ready-made “momentum” screen wants market cap above 500 crore, price above 100, a daily change above 5%, RSI(14) above 70 and rising, volume above 20,000. For shorts he flips the price-change band negative — stocks down 1% to 5%. The output gets dragged into a TradingView watchlist via a text file.

The night before, around 8pm, he takes a “broader idea” of the world — Dow, gold, silver, dollar index, crypto — not to chart it, just to know the weather. He’s only half-joking when he names his favourite leading indicator:

आजकल जो ट्रंप का जो सोशल मीडिया का चैनल है… इस द बिगेस्ट लीडिंग इंडिकेटर करेंटली।

OHCL: the actual setup

The strategy has an unglamorous name — OHCL, for Open-High-Close-Low — and he likes it precisely because it ignores indicators and looks only at price. The logic is a few rules stacked together:

Yesterday’s levels are today’s walls. The previous day’s open and high tend to act as resistance; the previous day’s low and close tend to act as support. Price drifting back toward one of those lines is where he goes hunting.

Demand a flat open. No significant gap. A move of half a percent overnight is fine; two to four percent is not. A gap means the information he needs has already leaked into the price.

Read the recent trend. Not a week — three or four trading days, on a 15- or 25-minute chart. Bullish or bearish.

Wait out the first fifteen minutes, then tell a trap from a trend. This is the heart of it. He does not trade at 9:15. He watches the first 15-minute candle and asks whether the breakout is real. A trap candle sweeps the day’s high or low and reverses — a false move, especially suspicious when it happens on no volume. A trend candle is the genuine article: it moves, pulls back to shake out the weak hands, then continues.

ऑप्शन बैंग को बाय करने के बाद ये इनशोर करना है वो स्टॉक साइड न हो जाए। आपकी एंट्री होने के साथ साथ आपको 1 क्लियर एग्जिट भी मिल जाए।

Entry comes on the candle that confirms continuation, not the trap. The stop-loss is the first candle’s open or high (or the previous day’s high). The target is a psychological round number — 230, 240 — or a Fibonacci support, not a figure pulled from hope.

Which option to actually buy

Having found the move, most beginners reach for the cheap out-of-the-money option — the two-to-five-rupee lottery ticket. He argues the opposite: buy in-the-money or at-the-money. They cost more, but theta decay is gentler, margin stays reasonable, and the option behaves more like the stock itself. The classic trap he warns against: holding a deep OTM option on expiry day while the stock moves and the option somehow doesn’t budge, because time has run out.

Which leads to his rule about expiry: roll to next month three or four days before the current one expires. Once a stock option goes to one or zero days to expiry, the stock often stops moving, and theta eats any profit direction would have handed you. He frames it as following the big players — when the option sellers roll forward, the retail buyer should follow their footprints rather than sit collecting decaying premium.

Pyramiding, sizing, and the honest bits

He’s careful to separate two things people confuse. Averaging is adding to a losing position as it moves against you. Pyramiding is adding as the position moves in your favour — two lots, then two more, then two more, building the position into strength. He prefers pyramiding and the better risk-reward it tends to produce.

On sizing, he ties everything to capital and to ROI rather than rupees. Fifty thousand of capital means at most two trades, spread across two stocks, never one. Two lakh means maybe four. Beyond that he stops recommending more buying and points people toward option selling instead — the larger the capital, the more safety it should want. Small accounts can hold for a 24-26% swing in the option; a two-lakh account should be taking profit nearer 10%. Minimum acceptable risk-reward is 1:1; the ideal is 1:2 or 1:3.

To his credit, he plants a sober flag in the middle of his own promotional video:

सेबी का ऑफिशियल डेटा बोलता है नाइंटी थ्री परसेंट ऑफ द ऑप्शन ट्रेडर्स लॉस।

Ninety-three percent of option traders lose, he says, and the reason is the one his whole method circles: they know how to enter and not how to leave.

Key Takeaways

• OHCL setup: previous day’s open/high act as resistance, low/close act as support; trade rejections off these levels.
• Require a flat open — gap under ~0.5% acceptable; a 2-4% overnight gap disqualifies the stock.
• Don’t trade the 9:15 candle. Wait for the first 15-minute candle to resolve, around 10am.
• Trap vs trend candle: a breakout on no volume that sweeps the day high/low and reverses is a trap; a move that pulls back, shakes weak hands, then continues is the real trend. Enter on the latter.
• Stop-loss = first candle’s open/high (or previous day’s high). Target = nearest psychological round number or Fibonacci level.
• Buy ITM or ATM options, not OTM — lower theta, behaves closer to the underlying.
• Roll expiry 3-4 days early to the next month to dodge theta crush near 0-1 DTE.
• Pyramid (add into strength), don’t average (add into weakness).
• Sizing: ~50k → max 2 trades across 2 stocks; ~2L → ~4 stocks; above that, switch to option selling. Think in ROI %, not rupees.
• Scanner filters (Scanx/Dhan): F&O stocks, >5% daily move, RSI(14) >70 and rising, volume >20k, market cap >500cr; negative price band for shorts.
• Use high-volume blue-chip F&O names with small lot sizes to avoid liquidity traps.
• Always carry a BTST stock-option position in names that start moving after 3pm.

Claude’s Take

This is a notch above the genre. Most “this strategy makes me lakhs” videos are vibes and a course link; this one has an actual, falsifiable method — flat open, defined levels, a stop, a target, a rule for which strike to buy, a rule for when to roll. The trap-versus-trend distinction is a real and useful idea, and his insistence that exits, not entries, are the hard part is exactly the thing beginners ignore. He clearly knows the mechanics.

But read the title again. Makes me XXX,XXX/Month — and nowhere in 63,000 characters of transcript does he state a single monthly figure. The number is bait; the video never cashes the cheque. That gap between thumbnail and content is the tell for the whole format.

The promo tilt is heavy and constant. This is an Upsurge Club production, and Gokul has an “Intraday Stock Options” course landing, complete with a “secret, invite-only” TradingView indicator that conveniently draws entry, stop and target for you. Every genuinely tricky piece — reversal identification, his “index tandem” divergence theory, the “million dollar” volume overlay — is dangled and then deferred to the paid course. Dhan and Scanx get warm plugs throughout. None of that makes the method wrong; it does mean the free video is a forty-minute trailer.

And the survivorship problem he himself names hangs over everything: he quotes the 93% loss statistic and then spends the rest of the hour explaining why you’ll be in the 7%. The method is plausible and the man is competent. Whether it survives slippage, brokerage, and a thousand real mornings is the question no backtest on a screen-share answers. Six out of ten — solid for the specificity, marked down for the clickbait title and the course funnel underneath it.