Chtis_T-weasel and others ,Whatever you think the worth is my all means buy puts or/and put in a limit order. The market will figure the price and worth without you faulty calculator or ignorant posts.
Dividend $1 low estimate to $1.25 high estimate. I think they will pay $1.25 but may lower it next time if the quarter is less favorable. The book value is around $28 so the stock may go towards $28 and $29 if things are ok. They have extra money left over from better quarters so I do not see lower than $1 this time. I say this is a buy.