Also there is a chance that nifty might take out the low off 10585 that it made in the month of February at some point in the month of March. Hence the aggressive traders can also buy Puts and await the move.
But just because selling options give you that added advantage of a time decay over the move not happening, it becomes a viable bet. Ofcourse it has a disadvantage of paying a higher margin but it is worth taking. After all a profitable trade is what everyone wants!
One more reason to this is the nation is set for the elections in a couple of months and hence markets might want to take a call post that. Also the tensions with the neighbor is bound to keep the bells ringing.
Hence, do not bite more than what you can chew!!! Have stop losses in place and take regular profits.
Good luck with the trading!
One may also want to see this up move get over and then enter. It all depends on the risk that one is willing to take and potential holding time and rewards for the same.