I've never bought or emitted options so far, but the offer is interesting and I'm considering it.
btct offers 84d (i.e. 12w) options.
However I've made
some calculations, and locking 2.3 BTC for a 0.2 premium equals to a weekly gain of 0.01666667, which I think will be lower than the dividend that AM will pay during this period (assuming 0.0290 weekly dividends, that would be 0.01957273 adjusted to what I could buy now with 2.3 BTC), so I could as well buy some AM-PT shares with those coins and have a higher return.
Would you accept either:
• 84d, 2.3 strike, 0.28 premium
• 56d, 2.3 strike, 0.16 premium
?
This calculation assumes that the share price doesn't fall at all after you've purchased. If you make
x in dividends from holding ASICMINER shares for 12 weeks, then you only earn this full amount if the share price doesn't fall. Otherwise the capital loss (buying_price - selling_price) would eat at your profit.
If you think the share price won't fall in the following 12 weeks, you can make the same amount of money
right now, instead of over a period of 12 weeks, by offering 12-week put options with a strike price of the current ASICMINER price and a premium of expected_average_dividend*12.
So if you think 0.04 BTC/week is a high average dividend (I think it is), then you should be willing to sell 12-week put options for 0.48 BTC per contract with a strike price of 4.24 (current ASICMINER-PT highest bid).
If you do this you could buy 1 extra ASICMINER share, and increase your profit further, if the share price doesn't go down.
So in essence you'd be getting an instant, locked-in profit in exchange for a lack of profit in case the share price increases.