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# How to select OTM/ITM strikes based on spot chart

* To Select 1 Strike OTM from Spot Index for NIFTY BANK Call Option, you can use the following formula in ‘Strike Fx’ section of Position Builder:


![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/7346f8df5220d53ed092ed66ce8bb1_103x5po.png)


* To Select 1 Strike ITM from Spot Index for NIFTY BANK Call Option, you can use the following formula in ‘Strike Fx’ section of Position Builder:


![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_7rjhyw.png)

For Puts, the construction is exactly the opposite:
To Select 1 Strike OTM from Spot Index for NIFTY BANK Put Option, you can use the following formula in ‘Strike Fx’ section of Position Builder:

![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/image_wvz61.png)

To Select 1 Strike ITM from Spot Index for NIFTY BANK Put Option, you can use the following formula in ‘Strike Fx’ section of Position Builder:


![](https://storage.crisp.chat/users/helpdesk/website/948b8c26d046a000/7346f8df5220d53ed092ed66ce8bb1_789wz6.png)


| If you are selecting for NIFTY, the base for round keyword would be 50 as strikes are in 50 multiple, if selecting Bank Nifty, the base will be 100 as strikes are 100 points apart