NaughtyPines
Long

SOLD VRX MAY 20TH 15 SHORT PUT

NYSE:VRX   VALEANT PHARMACEUTICALS INTERNATIONAL INC
What's not to like about a play that will get you more than 1.00 credit ($100)/contract at a strike $11 below current price?

Here are the metrics:

VRX             May 20th 15 short put
Probability of Profit: 74%
Max Profit: $1.37 ($137)/contract
Buying Power Effect/Max Risk: ~$150/$1363 (assuming you do nothing, get assigned the shares at $15/share, and the stock goes to "0" without your selling calls against).

Notes: In this particular case, I'm fine with taking assignment of the stock at $15/share if it comes to that, but will look to exit the trade at 50% max profit.
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