4000 levels on Nifty is a good support and it should be hovering around it for sometime, unless something drastic triggers in either direction. But I don't see any major activity or release of news/information in the near term calendar. In times like these, best strategy would be to sell an option so that its value would be decreasing due to the Nifty staying around the same levels without major movements and the decrease in the Days to Expiry. An option price depends on 5 factors out of which the underlying and the Day to Expiry are 2. So, now you may sell a well out of the money Call option, take a premium and square it off in a few days when the market is at the same levels, as its value would have decreased due to the lesser number of days to expiry. You shouldn't be waiting too much to book your profit, as the sentiment could turn other way over night. It's a very common mistake that people do, taking the first position at the right and miss to square off that poistion