Good point about the expiration. If I was betting on the $17 figure I would buy options that expire in a few months. The 48 cents was just a conservative number

Good point about the expiration. If I was betting on the $17 figure I would buy options that expire in a few months. The 48 cents was just a conservative number to throw out there (value of puts w/ $17 strike price would probably be higher if the stock is significantly below the strike).