Zilla, I have been accumulating IEP through STO-sell to open PUTS. I look at Bollinger bands and support zones and look out at a option expiration date that falls right before my expected X-DIV. date. I can collect a nice premium which I keep if the pps closes above my strike price.
On Friday I had lots of $17.50 but was only assigned about half as the pps was close $17.47 but I collected about $1.25 per share in premium. I am now looking out at April 26 option expiration and may look at the 19 or 20 strike price to collect big premium and if assigned collect div in the next month. IMO long term IEP should go up
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