Oh well, I guess I liked the action too much.
I sold/wrote 20 contracts of the Jan 2013 $70 put for a put premium of $16.15 for a breakeven of $53.85. This is a 30% return over 12 months if over $70 by the middle of January.
Why would you do that? You can be put at any time! Why not sell a bag load of the 40's or such. Less likely to go there than 70?