Bid 20 cents for 32 March 2.50 puts (GMOP), good till canceled. Our goal is to leg into a put calendar spread that gives us at least 10-to-1 odds on a bankruptcy filing. March puts do not come in for sale in any great quantity, so we’ll need to be patient, and probably to pay up just a little bit, to get filled on our order. _______ UPDATE: With the stock currently at 10.45, up a dime, the puts are 0.24 bid, 0.38 asked. If you’re able to monitor these options intraday, I’ll suggest rattling the market makers’ cage by stepping ahead of their bid for half of the puts. Use a bid 2-3 cents higher than whatever is reflected, and leave it in for an hour or two.