Care about a 60% return in less than a month? Do you like 70% in three month? How about an 82% return in less than ten months? This is all possible with SunEdison's options, if you sell them. And I mean a real return - the cash will be in your account the moment you press the "SELL" button. I am talking about puts with $0.50 strikes, in particular: (Source: Google Finance) (Source: Google Finance) (Source: Google Finance) But here is a catch - these are not the riskless opportunities I talked about in my previous articles. You have to accept a real possibility that SunEdison will go under. There is a lot of speculation on this topic, and we, as retail investors, do not have access to real information - too much noise is on the market around this stock. From a risk-return perspective, the January 2017 puts are by far the best opportunity - you can earn over 80% over a ten-month period (less transaction fees) risking less than 20% of your money (if the stock ends up at zero, you will only have to pay difference between the strike price and the premium you have received out of your pocket). On the other hand, not everybody is patient enough to wait for such a long period. If you are into some quick bucks, go ahead and sell the April 29 puts and earn a 60% return in less than four weeks (provided that the stock goes back over $0.50 per share - the market data show that it collapsed to $0.24 per share in the after-hours). On the other hand, you risk losing about 20 cents per share, or approximately 40% of your money. Anyway, as long as the stock ends up above the 20-cent mark, you will not lose anything. I have specifically concentrated on the puts because I do not find other options or stock strategies attractive now. For example, buying calls is way too expensive with implied volatility remaining in triple digits. Besides, by selling puts, you are pocketing cash right away - there are no "wishy-washy" returns in this case, as in the case with going long the stock or calls. I also do not find buying puts attractive - you are paying too much to earn too little, even if you think SunEdison's bankruptcy is inevitable.Keep in mind that these are speculative trades: if you are not okay with losing 20%-40% on this trade, do not do it. Stay on the sidelines and eat your popcorn as the drama is playing out. I think I want to get in, though - I am going all-in!