Options Wonderland

[leemalone2k3]

Are you expecting a move back to 39.50 area in a couple of days or are you looking at a longer time frame like a week or two?

You may want to consider partially financing it by selling a weekly 37/38 put spread.
Buy the 37p for .19
Sell the 38p for .52
This gives you a .33 credit in your account, effectively lowering the cost of your april call down to .46. All TBT has to do is not go down at all this week and you will keep that credit.