Option leg of a buy-write. DFR got pummeled after taking huge mortgage losses. Risk here is that the losses and writedowns continue and the stock drops below $1.00. NYSE rules state (from what I've read) that a stock that goes below $1.05/share will halt trading temporarily. Strategy here is to hold the stock until the option gets assigned. Seeking Alpha noted that the dividend may be cut entirely or may just be a stock dividend until all losses and writedowns are taken which will allow DFC to continue operating as a REIT. Opinions are mixed, but many believe this stock could go to $4.50 long term.