If the Wheel Strategy is the well-trodden highway of options income, Sphinx Spreads are the cleaner side-road — same destination, better mileage. In The Options Sphinx Strategy, Amit Ghosh, founder of Unofficed, presents a structured alternative to the classic Wheel: a defined-risk, capital-efficient way to generate consistent option premium in Indian markets without the assignment drag of cash-secured puts and covered calls. The book breaks down the Sphinx setup step by step — entry rules, strike selection, adjustment criteria, and exit triggers — and contrasts it directly with the Wheel so you can see exactly where, when, and why one outperforms the other. Worked examples on Nifty, Bank Nifty, and major stock options show real entries, real adjustments, and real outcomes — not idealised back-tests. Designed for intermediate-to-advanced options traders who already understand basic spreads and want a repeatable, low-stress income strategy with defined risk, this is a practitioner's manual — not a sales pitch — for anyone serious about Indian options income.