Index: pw.c
===================================================================
--- pw.c	(revision 274349)
+++ pw.c	(working copy)
@@ -98,6 +98,7 @@
 	int             which = -1;
 	char		*config = NULL;
 	struct userconf *cnf;
+	struct stat	st;
 
 	static const char *opts[W_NUM][M_NUM] =
 	{
@@ -143,6 +144,10 @@
 			if (argv[1][1] == 'V') {
 				optarg = &argv[1][2];
 				if (*optarg == '\0') {
+					if (stat(argv[2], &st) != 0)
+						errx(EX_OSFILE, "no such directory `%s'", argv[2]);
+					if (!S_ISDIR(st.st_mode))
+						errx(EX_OSFILE, "`%s' not a directory", argv[2]);
 					optarg = argv[2];
 					++argv;
 					--argc;