i’d go with a christmas fav and in the tech field…. like apple or sony. but why do you really care when it expires?

Just my own opinion, and you should do your own due diligence, but of Dow stocks, I like the Microsoft January 30 calls. They should be primed to pop just before the release of Vista.

DOWAI.X 45 call selling at 0.20 a share
DOWAH.X 40 call selling at 1.55 a share
DOWAG.X 35 call selling at 5.30 a share

DOWMH.X 40 put selling at 1.85 a share
DOWMG.X 35 put selling at 0.40 a share

take your pick. Stock is closed at 39.50 today (Friday)

Are you asking about an option on a DOW stock, or on the DOW as in DJIA, or DOW chemical option?

Either way, what’s best will depend on your risk tolerances and how speculative you want to be.

For a DOW stock, I’d probably buy

Jan 60 or 55 call on AXP
or Jan 45 or 35 call on HPQ
or Jan 50 or 40 call on MRK
depending on how risk seeking/adverse you are.

For DOW, as in DOW chemical, 40 is a very very important number. If DOW breaks it, it’ll probably continue up, else, it’ll most likely bounce and continue lower. It’s already tried twice recently and has been rebuffed both times.

Personally, this isn’t one that I would invest in until I got clearer direction, but if I HAD to pick some options, I’d probably do a bear call spread

Sell Jan 40.00 calls DOWAH
Buy Jan 45.00 calls DOWAI
1.20 credit, risking 3.80

You can try to get 1.25 or 1.30 though.

As I said, this isn’t my favorite stock to trade at the moment. For the risk, any of the DJ stocks I mentioned will have a much better chance of a good return.

Hope that helps!