Zion Oil & Gas Inc (ZNOG)

[RSummers]

So Porgie,

Let's say theoretically the stock price went to $10.00. Using your scenario the puts can now be allowed to expire worthless or if you're conservative you could purchase them back for next to nothing and cover your position. My question is, in your scenario how would you be able to acquire the shares since there is no option to exercise? Yes you would keep the $1.60-$1.65 profit but you would lose out on difference of the $4.00 strike to the current price of $10.00. Appreciate letting my know if I'm missing something here. The reason I ask is currently I'm holding only call positions which I will exercise if the pps pops up. I like your strategy but want a path to owning the shares if the pps pops. Thanks.