I won't think of any adjustment till market moves 200 points in either direction up or down.
Smart_trade
Great.. so that means if market falls by 200 than most probably we are in profits so no tension ,but if market goes up by 200 points the following adjustments could be made:
Say market rises upto 7700, than either of the following
1. Sell 7400 PE and let 7100 PE expire worthless (or buy close to worthless). Most likely you will be at BE
2. Buy back 7100 PE and sell 7300 PE and let 7400 PE position as it is. The new BE will be 7200. Most likely market wont revert from 7700 back to 7200, even if it were to it will need some time to do that, till than it would be close to expiry.
Else another adjustment....