Also (why more detail and a bigger list is needed) it does not need to be as drastic as gap or crap that I have been referring to but also situations like "AIG up 10% on no news and indices are down about 1.5%" I would venture to guess that 80% of the time ... 5 minutes into the day ... on that type scenerio that stock will see a 5% correction granting the right PUT option a 25 or so % gain.