Best Buy / Circuit City put/call play

medhockey said: "I read somewhere on the net an interesting idea and was curious if you guys could analyze this play and tell me your thoughts on it. You place a put option on circuit city for the holiday season and either a call or just buy the best buy stock. If retail does bad during the holiday season you are covered. If Best buy does well and circuit city tanks more you make out like a bandit. I wouldn't expect BBY to do poorly and circuit city to do well, so I feel like this is not a losing proposition, what do you guys think?"