The stock's volatility has jumped-up significantly in last 2-3 days.
The stock has resistance around 3700, and support around 3400 levels with a minor gap.
The trend isn't that strong yet - but keep a eye on, in case it changes.
The level of 3700 has maximum CE OI built up, so will act as a signifiant resistance in Dec series.
Idea 1 (less margin) : Sell 3650CE and Buy the 3800CE to create a spread Idea 2 (higher margin) : Sell 3600CE and 3450PE to create a high probability strangle. Do adjustment if it starts trending strongly.
We should be able to make 4-5% return on capital with this strategy.