This thing may be dead and buried, but I thought I'd lend my two cents one month later, as I didn't have the chance until now. I don't advocate Dividendium, and in fact found their offering unsuited to my purposes, and subsequently unsubscribed. However, I do think they deliver on what they promise. Based on the example you quote above from their website, they are their own worst publicists. In subscribing to the site, several of these married put strategies were listed in which the locked in risk-free profit was worthwhile. In the example quoted above, the risk-free return (as long as the dividend is not cut) is $0.03. That of course will not be risk-free after commissions are considered, but ignoring commissions (as, after all, they aren't catastrophic for a slow-strategy like this one), it is a basically risk-free play. As long as that dividend is not cut, you stand to walk away with $0.03. Now, in order to actually profit from underlying appreciation, it would have to move 15.6%. Obviously that is tantamount to a lottery ticket, as you were saying. The good news is that the examples get much better than this stupid one listed on the website. As I recall from when I subscribed, appreciation by only a few, seemingly attainable percentage points was all that was required to net a profit above the modest locked-in value. Secondly, that locked-in amount was better than 3 cents per share: enough to cover commission costs and a still leave a net profit. I'm not about to subscribe again just to prove this, but I think they were onto something, albeit something small. I just thought it warranted discussing, as the view that this is equivalent to buying OTM calls seems to be prevailing. My point is that unlike buying OTM calls, you can't actually lose anything here. If I buy OTM calls and they expire worthless, I lose my full investment. With these sorts of married puts, I can't lose a cent.