I graduated in 2009 DEC. My OPT started on Feb 7th 2010. I went back to India on March 26th, 2010 as the job market was really bad. I informed the ISO advisor in my school that I was going back.
I never used that OPT. I got an email from them that my OPT was cancelled. Now I am back in the US with H4 visa status. Will I be getting an OPT with another masters as I never used the previous one?
A friend of mine had a similar case last year the only difference being he worked for two months on his OPT and left for India during his first masters. He believed he had cancelled his frist OPT, so after graduating from the second Masters when he applied for his OPT it was denied the reason being his intial OPT was not cancelled. It would be good idea for you to check with the Int office from your last school and take a second opinion - since what came out from his experience was that even the Int advisors were grossly unaware of the rules in this particular case. Luckily for him he found an employer during the grace period.
Also I am sure you might be aware than you need to move to F1 status to receive an OPT even though you could get a Masters on your H4.