You should sell $0.50 puts expiring this Friday. Last Friday, I wrote a piece on an options strategy that would net investors over 60% by the end of April. Today, as the stock tumbled, I found an opportunity that would net you 60% in four days! Yes, I am not mistaken: (Source: TD Waterhouse)The $0.50 puts expiring on April 8, 2016, four days from today, are trading a $0.30 - $0.32 apiece. Here is the Greeks profile on these options: (Source: Author's calculations) Based on the current volatility estimates, there is a very high chance (about 72%) that the stock will end up in the money. This is mostly true because the option is already in the money based on the strike price and at-the-money, if we include the cost of premium in calculations. The Gamma of the stock is extremely high meaning that the Delta will either be destroyed, if the stock moves higher, or rocket, if the stock goes further. To be frank, there is not much space to move further down. Essentially, by selling puts we become short Gamma and long Theta, which is the option's time decay. As you can imagine, Theta will explode in the next four days, increasing in geometric progression as we near day X (expiration). With this trade, we can essentially capitalize on the option's intrinsic value, should the stock move higher than the current price. On the other hand, if it ends up below $0.20 per share on Friday, we will have to pay the holders on top of what we received by selling the put. Also, by selling an in-the-money put option, we can scalp Gamma, if the stock moves into a favorable direction. To do that, we will simply sell the stock as it moves higher than the current market price. What do you think?