SandRidge Energy, Inc. (fka SDOCQ)

[Porgie Tirebiter]

If you are sure you would be willing to buy SD at $4.50 consider selling Mar. $5 puts instead. Ten contracts will pay you $680. You'll have to set aside $5,000 to cover the position.

One of two things will happen by next March. You'll either own the shares for $4.32 each or you will simply get to keep the cash for an annualized return of 27% on your money. The risk lies in share price going lower than $4.32 or missing out on additional return should the shares go higher than $5.68.

Of course, these numbers are based on Friday's close. They're going to change obviously.