Waiting for my next H1-b chance Vs Going for second masters

USA H1B Visa
1

Hi ,

I need some insight into the amount of risk involved in the folowing plan:

My opt expires on March 1 2015, and so far havent received any updates on my H1-b lottery. I was planning for a trip to India sometime after October this year for my wedding, but now am not sure what to do. One more thing my F1 is expired, I got it for only 2 years.

Two options we have considered so far are:

  1. Wait till next April to file for H1-B. Hopefully if I am lucky next time and hear about my approval soemtime in May, go back to India marry and return in September.

  2. Apply for second Masters some time this year, join, go to India get married. Go for f-1 stamping, if that doesnt workout go for h4 come to US and apply for COS. Here is the part I am not clear about:

    If my f-1 gets rejected, would it void my admission in the university? Should I get i20 again ? How long does COS take? I just want to make sure that by April 2015 I am in a situation to file H1-B again.

Any suggetions are welcome.

Thanks

Shalini