I gather from the chat room discussion yesterday that tous le monde took the recommended trade, buying eight October 13 puts for an average 0.58.  There is no urgency about spreading off these little pups, nor should we get nervous if Microcrap tacks higher on rumors that Windows 7 is not quite as crappy as Vista.  In any event, our goal will be to leg into vertical put spreads if the stock falls hard in the coming weeks; or if it falls only moderately, legging on some calendar spreads by shorting nearer-term puts at the 13 strike. If we go “vertical,” it would be  by shorting October 10 or October 11 puts for as much as we paid for the October 13s. And if we put on the calendar spread, it would entail recouping at least 0.58 of premium by shorting, in monthly succession, May 13 puts, June 13 puts, July 13 puts, August 13 puts and Sep 13 puts. If we can’t recoup at least 0.58 per put in the process, we should be ready to hang it up and try, maybe, Dancing with the Stars.