dear dheeraj,
whatever is at premium has good value....
also, when u will sell, u will get good part of premium back. premium will not become zero at the blink of eye.
plus, high premium indicates that somewhere in the series market will enter a range.....that helps in trading (ranges). you interpret technicals accordingly, in that light.
i am more jittery buying when premium is too low. generally i avoid it.
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