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At the beginning of the year, the big vow for a lot of people is to lose weight — so that’s when programs from companies like Weight Watchers International, Inc. (NYSE:WTW) are the most attractive. Today’s trade is based on that promise, plus the chart for WTW looks really bullish. Another thing is that it has a very heavy short position, which kind of gives it a little more buoyancy also.

So, technically WTW looks good; fundamentally I think that’s a good statement to make: Everybody’s ready to lose weight as their New Year’s resolution. Also, Oprah Winfrey has been public about having lost a lot of weight on Weight Watchers, and she owns a 10% stake, so she’s now out there advertising that for the company.

With all that in mind, let’s make a bullish play on Weight Watchers via a naked put write:

Sell to open the WTW Jan. 20th $9.50 put at about $0.40.

For those who aren’t familiar with this strategy, the basic premise for a naked put write is to sell (also called “writing”) put options and thereby get income upfront in the form of the option premium. By selling a naked put, you’re betting against the buyer of that put option, who thinks that the underlying stock is going down.

As the seller, you’ll want to watch for a drop below $9.50. If the buyer is wrong and the stock goes up, the put will expire worthless — so, as long as WTW remains above $9.50 through expiration, you (as the seller) would have no other obligation and would simply walk away with 100% of the option premium you collect today.

Ken Trester is editor of the popular Maximum Options program. Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990.