The Options Strategy Builder
for Nifty & Bank Nifty traders
Build a short straddle, strangle, iron condor or any custom multi-leg options strategy — pick strikes straight from the option chain, backtest on tick-level history, then automate. No coding required.
Free plan · No credit card · Backtesting & paper trading included
Design options strategies the way you think about them
A good options strategy builder should let you express an idea — “sell the at-the-money straddle every expiry and square off at 3 PM” — without wrestling with APIs or spreadsheets. SutraLipi does exactly that: an option chain that resolves ATM, OTM and ITM strikes for you, relative weekly and monthly expiries that never go stale as contracts roll, and multi-leg orders you can assemble visually or in the concise SutraLipi language. Then you backtest and automate the very same strategy.
Build any options strategy
From simple directional trades to fully hedged, non-directional structures — all from the option chain.
Short straddle & strangle
Sell the ATM straddle or an OTM strangle on Nifty or Bank Nifty, with automated square-off and stop rules.
Iron condor & iron fly
Hedged, defined-risk structures — sell the body, buy the wings, all resolved from the option chain by strike distance.
Spreads
Bull call, bear put, credit and debit spreads with ATM/OTM/ITM leg selection.
Custom multi-leg
Combine any number of call and put legs with your own entry, adjustment and exit logic.
Relative expiry
Target the current or next weekly / monthly expiry with Expiry.Weekly(n) — strategies auto-roll, no rewrites.
Time & event rules
Enter, adjust or square off by time of day, indicator, or price — intraday or positional.
From idea to live in three steps
The same strategy flows through every stage — what you backtest is what you trade.
Build
Assemble legs visually with no code, or write a few lines of the SutraLipi language. Pick strikes from the option chain.
Backtest
Run it on tick-level historical data for Nifty, Bank Nifty and F&O. See win rate, drawdown and the full trade log.
Automate
Forward-test on paper, then go live — orders route through your connected broker. Same script throughout.
A short straddle, in a few lines
The option chain resolves the ATM call and put for the current weekly expiry — you just describe the trade.
OptionChain chain = NFO:OPTIDX:"NIFTY";
EquitySymbol nifty = NSE:IDX:"NIFTY";
OptionSymbol ce;
OptionSymbol pe;
onStart {
ce = chain.ATM(CE, Expiry.Weekly(0), nifty);
pe = chain.ATM(PE, Expiry.Weekly(0), nifty);
OrderSend(ce, SELL, 1, 0, 0, 0, NORMAL, DAY, "straddle ce");
OrderSend(pe, SELL, 1, 0, 0, 0, NORMAL, DAY, "straddle pe");
}Why traders build options strategies on SutraLipi
Purpose-built for Indian index and stock options.
Tick-level backtesting
Options are path-dependent — theta, IV and the underlying all move intraday. SutraLipi replays tick by tick, not just candle closes, so straddle and hedge results reflect reality.
Backtest-to-live parity
The exact strategy you validate is the one that runs in paper and live. No re-coding between research and execution.
Option chain built in
Select ATM, OTM or ITM strikes by moneyness or distance — the chain handles symbol resolution for every expiry.
No code, or full control
Start with the visual builder; drop into the SutraLipi language when a strategy needs custom logic. Read the docs.
Options strategy builder — FAQ
The questions traders ask most.
What is an options strategy builder?
An options strategy builder lets you define a multi-leg options position — such as a short straddle, strangle or iron condor — by selecting strikes from the option chain and setting entry, exit and stop rules, then backtest and automate it without writing code.
Can I build a short straddle or iron condor without coding?
Yes. SutraLipi has a no-code visual builder and an option chain that picks ATM, OTM or ITM strikes automatically, so you can assemble a short straddle, short strangle, iron condor or a custom multi-leg strategy without programming.
Can I backtest options strategies on Nifty and Bank Nifty historical data?
Yes. SutraLipi backtests your options strategy on tick-level historical data for Nifty, Bank Nifty and F&O, so the same script you test is the one you run live — backtest-to-live parity.
Is the options strategy builder free?
SutraLipi has a free plan that includes the strategy builder, backtesting and paper trading, with no credit card required. Live automation is available on paid plans — see pricing.
How do strategies go live?
You move from backtest to paper trading to live using the same strategy. Live orders route through your connected broker, so execution stays broker-compliant.
Build your first options strategy today
Assemble a straddle, strangle or iron condor, backtest it on real Nifty and Bank Nifty history, and see the results in minutes — free, no credit card.
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