Right now you could sell 1 Jan 30 call for approx 22$ and you could buy 2 50$ call for a total of 20$. If the stock tanks to 30 you lose nothing if the stock takes off past 50 you have 1 call working for you. If the stock stays at 50 you lose the premium for the 50$ calls and make approx 2$ on the 30 calls.
This strategy would have been the best strategy recently with IDCC. I had a few short 50's and long 2 x the 70's and it has saved me from losing money. However, my simple long call positions are losing lot's of money right now.
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