I'm not sure about $20 but this company will be drastically different by the end of the year. They are shedding non performing assets and acquiring performing ones. I think the company eventually rewards them with a valuation similar to PENN over time. I think they could earn over $1 EPS in 2014. Think of what the market will pay for it then....20 times wouldn't be outrageous so you might be on to something with your $20 call.