Concur. This is not retail money. Having said that, I tiptoed into the water...am short Jan 57 1/2 puts, and just shorted Feb 55 puts for $3.25. That is serious money, and will do covered calls if put to me. For me, it's all about picking off the values 3 sigma on the bell curve, and letting everyone else beat their heads in day trading on a coin toss.