help!!!!

Hi
I need help with my next move. I sold a Put on State Bank at Rs 5.15, lot of 132 today thus getting rs 679 as premium. The nifty moved up and closed above 5000. the cost of this option is now Rs 10. I have these questions:
Can i let this call expire as surely this will not come in the money over nxt weeks to expiry?
if i settle this, i will incur a Rs 5 loss as i would be buying the same contract for rs 10. what should my next move be? my view is that the nifty will head south on profit taking and close below 5000 in the next few trading sessions and it could mean i can settle for a profit??

Option details:

OPT-STABAN-29-Oct-2009-1800-PA Sell
Lot 132
Trigger 1,820.20
10.00
Margin 23,760.00


thank you

First you say u have sold a put then u say should u let the call expire.

Well which one is it put or call??

Regardless , if it expires OTM you get to keep the premium.

dear if you have no clear idea then avoid writing options .it is better and less risky to buy a call insted of selling a put

Sorry, i should have asked - Should I square off or not? nevertheless now this option contract has been disabled!! what do i do? i am obviously OTM so no worries there. i do have the o ption of squaring off at the last traded price with the exchange but why should I? any comments? the LTP is 10 rs, i sold a put for 5.15 Rs. earned approx 600 rs in premium. sold state bank option 29 oct expiry strike price 1800. Second question - the strike price is dynamic!!! its now showing as 1840!!