Options Query-Experts Help

I wish to trade in LT options. Attached is my strategy. As per payoff it seems that I will be in minimimal loss if LT stays above 1415, and major loss will be there if LT dips below 1290.
If I keep a sl of 1315 and go for the strategy..does it make sense.

Let me know If I am missing something

Thanks

Attached Images

OPTION.jpg (89.1 KB)