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Based on current market conditions as of May 27, 2025, a Short Strangle strategy appears suitable for today's intraday trading session. This strategy involves selling an out-of-the-money call option above the current GIFT Nifty level of 24,965 and simultaneously selling an out-of-the-money put option below this level. The rationale behind this recommendation stems from the expectation that markets may consolidate within a range after the initial decline, allowing traders to benefit from time decay and potentially decreasing volatility. However, traders must exercise extreme caution given that India VIX has risen 3.11% to 18.58, indicating heightened market uncertainty. While the Short Strangle can be profitable if the market remains range-bound, the elevated volatility suggests potential for significant price movements that could result in substantial losses. The strategy works best when volatility decreases from current levels and the underlying index trades between the chosen strike prices. Critical risk management considerations include ensuring adequate margin coverage, setting clear stop-loss levels at 2-3 times the premium received, and maintaining constant market monitoring throughout the session. Traders should be prepared to adjust or exit positions quickly if the market moves beyond breakeven points. Additionally, the bearish global cues from US markets and the weak GIFT Nifty opening suggest that any short strangle position should have wider strike selection to account for potential increased volatility. This strategy requires sophisticated risk management and is suitable only for experienced options traders who understand the unlimited risk potential involved.