LTM never should have been as high as it was and, based on fundamentals, should be much lower than it is now. That being said, I have been selling (closing out) some puts and hope to sell more as this stock hopefully returns to a sensible valuation. I do wonder why the CEO was so candid on the earnings call (did he have a momentary need to tell the truth? Could he have been talking down the stock before a possible bankruptcy to avoid charges on financial fraud? - I have no facts on this; but I wonder.)