sharing your thoughts.

I buy short term OM puts for individual stocks. Most people
are saying that puts today are too expensive; but these puts have rarely failed me
so far, especially right before the rescuing effort: you watch them double in a few hours sometimes.
This is a typical time when the option pricing models don't work.
Betting on short term OM calls is also possible, but very difficult. You must be quick, but the liquidity
issue would kill most of the profits.

I would not want to write options in this environment, although many suggest so.