Option trade on Deckers Outdoor (DECK)

Deckers Outdoor Corp is trading at $58.15 and reports earnings the first week of February. The stock has traded in a wide range from $51-$70 over the past 6 months and current sports a P/E of 17. We like the company and the stock, but we would rather buy it on a pull back vs at current levels. We are selling the February $45 Puts for $0.50 cents, which represents a 22% discount to the current price of the stock. This would represent a great entry point within the next 39 days, and if the stock doesn't drop to that level we pocket the premium of $50 per contract.