http://finance.yahoo.com/news/general-mills-gis-beats-q1-150703104.html http://www.msn.com/en-us/money/topstories/general-mills-sales-down-expectations-firm-gis/ar-BBwsfFi http://www.msn.com/en-us/money/stockdetails/financials/fi-126.1.GIS.NYS http://stockcharts.com/h-sc/ui?s=gis GIS pays 2.9% dividend Trade: With GIS at 65.26 Apr '17 50/45 bull put spread for a net credit of $35 Yield = 35/465 = 7.5% in 153 days = 18% annualized Prob = 93% Expectation = .93(35) - .02(465) - .05(233) = 32.55 - 9.3 - 11.65 = 11.60 Price...... Profit / Loss...... ROM % 35.00......... (465.00).......... -92.50% 40.00......... (465.00).......... -92.50% 45.00......... (465.00).......... -92.60% 49.65.............. 0.00.............. 0.00% 50.00............ 35.00.............. 7.50% 55.00............ 35.00.............. 7.50% 60.00............ 35.00.............. 7.50% 70.00............ 35.00.............. 7.50% 80.00............ 35.00.............. 7.60%