I Use a 20 Delta Short Strangle in Weekly and Monthly Expiry — Here’s My Rule-Based Approach

How I use entry timing, 20 Delta option selling, and a 90% POP target to build a structured options framework.

Short Strangle

When I first started learning options trading, I spent a lot of time chasing market direction.

I wanted to know whether the market would go up, crash, rally, or break down.

Over time, I realized something important:

I didn’t always need to predict the next big move.

Instead, I became interested in building a process based on rules, probability, and consistency.

That thinking eventually led me to the 20 Delta Short Strangle strategy.

Today, I use a structured framework that works across both weekly and monthly expiry cycles, with defined entry timing and exit conditions.

This article is educational only and not a trade recommendation or financial advice.

Short Strangle

My Core Strategy: Selling 20 Delta Options

My setup is straightforward.

I build a Short Strangle by selling:

• One Put Option near 20 Delta
• One Call Option near 20 Delta

I prefer using Delta because it gives me a more systematic way to choose strikes.

Instead of picking strikes emotionally or based only on premium size, I let a measurable parameter guide my decisions.

For me, this helps create consistency.

It doesn’t remove risk. It doesn’t guarantee outcomes.

But it gives me a repeatable framework.

How I Trade Weekly Expiry

For weekly expiry, my approach is rule-based.

I typically enter at the beginning of the expiry cycle.

In simple terms, I take the trade on the starting day of the weekly expiry period.

Why?

Because I want exposure to the full premium decay cycle.

Weekly expiries move quickly. Theta works fast. Time disappears quickly.

That speed is exactly why I prefer having a defined process rather than making random entries.

How I Trade Monthly Expiry

My monthly approach is different.

For monthly expiry trades, I usually enter on the next trading day after monthly expiry.

This allows me to start a fresh monthly cycle from the beginning.

For me, monthly expiry offers a different rhythm compared with weekly contracts.

There is usually more time in the position, more room for management, and a different pace of premium decay.

I don’t view weekly and monthly as competing systems.

I view them as two different environments where the same framework can operate.

My Exit Rule: I Don’t Wait for Expiry

One rule I follow is simple:

I don’t necessarily hold trades until expiry.

Instead, I exit when I achieve my defined objective.

My primary exit condition is reaching 90% of my Probability of Profit target framework.

This rule helps me avoid turning a successful trade into an unnecessary risk event.

For me, taking controlled exits is part of maintaining discipline.

I prefer following predefined rules rather than allowing emotions to control decisions.

Why I Like This Approach

What attracts me to this framework is not excitement.

It is structure.

I know:

• When I want to enter weekly positions.
• When I want to enter monthly positions.
• How I select strikes.
• When I plan to exit.

That clarity matters to me.

Markets can be unpredictable.

Having rules gives me a process to follow when emotions try to interfere.

The Risk Part I Never Ignore

Even with rules, I know this strategy carries risk.

A Short Strangle can face pressure during:

• Sharp trending moves
• Volatility expansion
• Sudden market news
• Large directional swings

Because of that, I pay close attention to:

• Position sizing
• Margin usage
• Risk management
• Adjustment planning
• Trade discipline

For me, understanding risk is just as important as finding an entry.

Final Thoughts

My 20 Delta Short Strangle framework is built around a simple idea:

Use rules over prediction.

I use it across weekly and monthly expiry cycles, with clearly defined entry timing and a structured exit approach.

Weekly trades begin at the start of the expiry cycle.

Monthly trades begin after monthly expiry.

And rather than waiting endlessly for expiration, I work with a predefined 90% POP objective.

I’m still learning, adapting, and refining my process.

But moving toward a rules-based framework has changed the way I think about options trading.

Less guessing.

More structure.

More consistency.

Educational content only. Not financial or investment advice.