Amit Chokshi_

Research in Motion Insiders Cashing Out On The Back of New Buyers

You're right but the implied vol for those options is high so there's a lot more "meat" to the premium and with a stock that's run up as hard as it has recently, I felt comfortable setting up a short straddle (short time expiry too) and then subsidizing it for later dated long puts. I would not set up a naked short on this.