When the Market MAX OI was 6100 and MAX PAIN at 5900. I had bought 5900 Puts (When the market was at 6100 SPOT). Now I have converted into a Debit Spread.
Bought the 6000PE-6200CE Pair at 135. Both 6000 and 6200 are possible in this month. The only thing is that the Sideways market could kills this. But with a Lot of action pending in October, Hope market will not be stuck in the Sideways. The VOLT is also LOW to go for Debit Spreads.
INDIAVIX is also down to around 22%. So it would be good to buy ITM Debit Spreads or OTM Credit Spreads.
When the Market goes to 6300 (MAX OI @ CE) - I will once again go for Naked Put Options.