With an IVR/IV currently at 82/82 and having just announced a few weeks ago, SCTY is one of those possible plays. As usual, I will go short strangle:
Dec 31st 19/39 short strangle
Max Profit: $125
Naturally, the strikes and/or fill price may require some adjustment when the market opens. Me personally, I would like something above 1.00 credit ... .
I'm basically operating under the assumption at this point that I will either get assigned short shares at 39 or will close out the 39 short call and short the shares from current price. In either event, I will want to have a short put in place to begin increasing my cost basis in the shares (the opposite of what you do in a covered call situation).