I don't believe you can have a stable orbit around a moon, the gravitational attraction of the parent planet would drag on it every time it orbitted nearest to said planet. That field would drag it out of any hope for a stable orbit, unless it somehow, miraculously, stabilized into a figure 8 orbit without tearing itself apart.

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But he that sows lies in the end shall not lack of a harvest, and soon he may rest from toil indeed while others reap and sow in his stead. -J.R.R. Tolkien, The Silmarillion