My contribution to an 'income trade': Sell the TLT Jan 2011 80 put and buy the Jan 2011 75 Put for a net of 85. Yield = 85/415 = 20%. 100K = 20k a year. Safety of long term treasuries... for whatever that's worth. http://chart.finance.yahoo.com/c/5y/t/tlt Probability > 94% http://www.optionistics.com/f/probability_calculator