Corning reported 'better than expected' on Monday, still a big decline but says they have reached bottom. http://www.cnbc.com/id/32170386/site/14081545?__source=yahoo|headline|quote|text|&par=yahoo The stock has been flat since the report: http://stockcharts.com/h-sc/ui?s=GLW With GLW at 16.78 I see two conservative bull put spreads for GLW for Jan 2010 expiration: the 12/7.50 and the 15/10. Here is a P/L table for comparison: ................................P/L................... ................12/7.50............15/10 5.00...........(425)...............(405) 7.50...........(425)...............(405) 10.00..........(174)..............(405) 12.00.............25................(205) 15.00.............25...................95 20.00.............25...................95 ------------------------------------------ Cost:.............425..................405 Yield:..............5.9%...............23% Ann:..............11.8%..............46% Given the state of the world I'll take the 12/7.50.