Today I decided to sell a put against ARR. I sold July 20 7.5 strike put. If the stock rises above 7.5 it will expire worthless and I keep the premium ($84) and repeat the process. If the stock stays below $7.5 at expiration (or the owner of the put decides to execute it) I will buy 100 shares of ARR @ 6.7 a share.
02/06/2013 13:11:19 Sold 1 ARR Jul 20 2013 7.5 Put @ 0.84
Current time value: 0.50 per contract
Intrinsic value: 0.34 per contract