Nifty Option strategy as high IV Due to Election Result

Dear All,

as we all know IV of nifty option is high due to Election result to be announce but before that exit poll will be there on 12th may though ,I am taking this strategy on 07-may-2014 ,other can enter before exit poll or result day also , cause IV of options will increase more , but it should come down after results

And one more thing the range of nifty which I consider for May/2014 expiry should be between 7100-6300 Nifty spot levels.

OK following is the position which I would like to take:-

All closing price as on 8/may/2014 at nse site

Nifty Spot 6660 & May-2014 Nifty Fut-6680

Short Nifty May-2014 CE-6200 @ 550
Short Nifty May-2014 PE-7200 @ 572

please share your view :annoyed: