Bought on the news that IMB deferring on TruPS held by AFN won't have a significant impact on operations.  Went out to November to capture the maximum time value on these options, going slightly ITM.  Will make a profit of .41/share if assigned.  My feeling is that AFN will trade around this level until IMB resumes payment on their TruPS.  Only risks here are a significant drop in the stock price or an early assignment which forces me to give up future dividends.