Long Put (3 Oct 11): IWM

This strategy is used when you anticipate a fall in the price of the stock.

IWM  $64.30

Buy to Open (1) Jan 12 65 P @ $5.94 

Net Debit: $5.94 ($594.00)

Profit Target (50%): $8.90 ($890.00)

Stop-Loss Point (50%): $3.00 ($300.00)