### Comment:
More than they’re worth at expiration, but less than they’re worth at the time at which I wrote the put.  
  
 If a stock is trading at $26 and I write a put at $25 and get paid a $1 premium, then I can be up to $2/share better off than if I had just bought the shares outright. If my put is not assigned, then I just made about 4% for doing nothing.

### REPLY:
Yes, but you're still buying it from them at a higher price than the market value of the stock. What they're worth when you wrote the put is irrelevant when it comes time to buy.  
  
 That's why people buy a put in the first place.

### END.