Using Stock as margin for option writing

What should be used as Margin for options Writing - Cash / Bharat Bond / Stock

We need to keep atleast 10% of margin as buffer for doing any adjustments trading 

Also, we need to follow strategies that are complementing each other 

• If one strategy is range bound and other strategy should gain when market does not depend on market being rangebound - so when requirement for adjustments comes- we need not do adjustments for all trades
• If one strategy is long - other strategy should be short and likewise 
• Trade setup should be bi directional- so that only one side is adjusted any point of time   

1. Cash - least effective Margin because we dont earn interest on this amount

2. ETF / Bharat Bond - Comparatively better instrument hold than cash and can be pledged for margin within minimal haircut (8 to 15%)- relevant to put in money during uncertain times or at the times when market is likely to fall - Return on the underying bond is 6% appreciation per year 

3. Stock - Invest in the stable stocks like ITC, HDFC, Reliance (approx. 6 lakhs per options lot) and pledge it for margin with hari cut ranign from 15 to 30%-  which gives margin of 4.8 lakhs and sell OTM call options using part of margin money -1.2 lakh from the 4.8 lakhs margin we got from pledging. Use the rest of the margin money for index trading. OTM call options should be sold for 1% of the underlying stock value - Following are the benefits we get if we follow this 

1. We get 12% return on the invested amount (6 lakhs) by selling far OTM call option  at 1 % of underying stock value every month (~ 72 K)

2. 60% of the invested money as margin for index option writing (3.6 lakhs) - we will get conservatively 2% every month through iron condor and we wil will 24% per year -> 86K

3. appreciation in the underlying stock value (10% ) if we buy the stock during crash 

Overall 36% return -> return from the index option (2nd point) can be maximed to 4% if we are aggressive so that return can be increased by further 24% taking overall return range from 36% to 60%