http://www.thestreet.com/story/1355...-over-three-years.html?puc=yahoo&cm_ven=YAHOO http://finance.yahoo.com/news/j-c-penney-shares-could-195143348.html http://www.fool.com/investing/gener...gn=article&utm_medium=feed&utm_source=yahoo-2 http://www.fool.com/investing/gener...gn=article&utm_medium=feed&utm_source=yahoo-2 http://www.msn.com/en-us/money/stockdetails/financials/fi-126.1.JCP.NYS http://stockcharts.com/h-sc/ui?s=jcp Trade: With JCP at 9.62 Jan '17 6/3 bull put spread for a net credit of $27 Yield = 27/273 = 9.9% in 263 days or 13.7% annualized Prob = 73% Expectation = .73(27) - .02(273) - .25(136) = 19.7 - 5.5 - 34 = -20 Price............. Profit / Loss....... ROM % 2.25................. (273.00).......... -90.10% 3.00................. (273.00).......... -90.10% 4.13................. (160.40).......... -53.47% 5.73...................... 0.00............... 0.00% 6.00.................... 27.00............... 9.90% 6.10.................... 27.00............... 9.90% 8.00.................... 27.00............... 9.90% 10.00.................. 27.00............... 9.90% 12.00.................. 27.00............... 9.90%