decay on ARNA will burn you every time. Not enough liquidity. Like most stocks, you have to time options just right, and the amount of extrinsic value in ARNA options is just too high to warrant any kind of trading strategy. I only play options on stocks with an underlying value above 100, or on an index like RUT. I do own some LEAPS, APR13, JAN13, but I'd never mess around with weeklies or even monthly options with this stock. I'd rather go to Vegas.