I see that April $33 puts are selling for a premium approximately equal to the dividend which is no surprise since the stock will be dropping by that amount on Friday. However I noticed that April $32 calls are selling for about $1.105 which is about the amount that they are in the money and they will soon be out of the money. Would it be a good play to sell April $32 calls today and then buy them back after the ex date? It seems to me that after the ex date that the premium on them will be too high given the historical volatility. Anyone else agree? I ask because I'm not very good at options on dividend stocks and thought that there might be something that I am missing. I know that in some cases they adjust the option strike prices after the ex date but I think that is only for special dividends that are announced out of the blue, not for known dividends that are expected to occur.