Where is likely close for February NIFTY?

There are only now 7 trading days left for February 2009 expiry. With no positive news from interim Budget market is back to square one as it was in the beginning of February 2009! So what is now for february 2009 expiry? The call & Put option at 2900 is totalling about 150 Rs. which shows between 2750 & 3050 the Market stretches and 7 trading left ! As we are aware in the second half of a month the time decay is very straight down it would be interesting to observe the February 2009 option expiry. Gun shot if it closes around 2800 then its another month back to square one like Jan 2009 Month. Global cues are neither positive and its giving signals of weakness day by day.

JK

Straddle or Strangle the NIFTY in February 2009?

Do you have future vision? Can we know whither future february 2009 may end? If only we had that knowledge there is no future exists as every thing would be in present! Theory apart where is february NIFTY Futures heading? Can the options price for NIFTY indicate a clue for this?
As of 03rd February 2009 NIFTY is around 2800 and the NIFTY 2800 CALL & PUT total is about Rs.240. This shows the boundaries at 3040 & 2560 and the volatility percentage around 40-45%. So a band of about 500 NIFTY Points. If one can find good opportunity of initiating selling call of 3100 & 2500 at good prices there are possibilities that the options can get expired worthless. Watch out for the options prices and their volatility. Market is hovering around 2800 for some good number of days since expiry and there is all probability of shooting up side for a few sessions can happen! After all bulls need to work in the chinese year of ox!

cheeers
JK