04-02-2013, 08:10 AM
Like you, TA, I am long the stock and short the puts. I had 85 puts expire worthless in the last two weeks of March and have sold 75 for April expiry thus far. Have been doing this for the last two years and believe IOC puts to be my best money-maker ever, a period of some decades. This approach isn´t for everyone, but it sure beats worrying about delays over which one has no control.