All about futures and options trading tutorial indian
If the gap is big enough, you can also use a touch option to predict the price will touch the level defined by the touch option. Depending on the gap and the price movement before the gap occurred, you can even use a High or Low option, if you feel closing the gap will take long enough for the High or Low option to expire. Since a gap turnaround is only temporary, all options purchased on a gap strategy should have an expiration date of less than one day.
The gap strategy cannot predict events further in the future than one day.