Yes you have to pick the right sector at the right time and then go after stocks that have had a bit of bad news with some puts. You only pay about lets say 10% of the price of the stock at the time and in Australia you can buy them at 1000 a time.
The problem is if the stock doesn't drop or rises then you have to buy the shares at a higher price to return them by the expiry date you are screwed. Best done by bigger funds that have the resources to keep the SP down.
