Replies to post #13684 on Options Wonderland

[yayaa]

International Stock Markets Plunged Monday, January 21st, 2008. The Australia SPAXX200 fell for an unheard of eleventh day in a row, and has crashed 18 percent since November 1st, 2007. The Hang Seng (HSI) Index fell 1,383.01 points Monday, or 5.49 percent. London's FTSE fell 280.10 points, or 4.75 percent. U.S. Stock Markets were closed in observance of Marting Luther King Jr.'s Birthday.

[The_Game]

Do you have any experience with selling puts? Just looking at the current situation, this might be a good opportunity to make some money on say the Google type stocks. The premium on these Feb puts insane. the 490 puts are going for 3.50 right now. Would there be a good strangle/straddle play to limit my risk by selling that put and buying a higher strike put lol just in case it does somehow fall %18 by then?