While I would normally agree with the author that buying time is better, in this case I lean toward the short dated wild-ass speculation. Links below.
...What interested me when I went to look at the volatilities was First Solar(FSLR_). I already wrote a column on Regions Financial(RF_) and it was totally different volatility and sentiment situation. The implied volatilities are nearing lows and the HV30 (30 Day realized volatility of the underlying) is perking up from lows, so there looks to be a slight edge in buying calls. The earnings in FSLR were great but the guidance disappointed and down went the name, $25.00 or so from yearly highs. The post-earnings play has been good to me over the last month and I will take the opportunity now to try it again.From last Week:
Trades: Buy to open FSLR January 120 calls for $10.50 and sell to open FSLR January 135 calls for $3.70 for a $6.80 debit on a 30 Delta with FSLR trading $124.20...MORE