Hi I trade options on index.Last 20 years of data suggest that the index moves at least +5% or -5% in a month ,70-80% of the time. I try to trade this by selling creating two spreads: By selling a call just above +5% & a put just below -5%. Also buying a call with strike next lower to sold call & put next higher to sold put. All the options used are of next months since we may have to hold for a month. Max loss in this strategy is generally double or more of max profit (not adding commissions). I have also experimented with buying options nearer to current market price ,among others. Any suggestions to improve the max profit/loss profile of the strategy or any other general change. Thanks in advance.