An update - I'm shifting my strategy lightly; I was writing occasional calls. After the last couple of weeks that has stopped. I'm not stopping completely - I'm just going to be better at sticking to my 'rules', and for that account, staying in shares is important to me. So I'm looking for a combination of strike, days to expiration, and premium that makes the risk/reward tilt my way. The net being that the current share price is too low: to get a premium worth the risk, requires either too low of a strike or too many days to expiration for me to chance it (0.50 premiums aren't worth any level of risk to me, after that very unfriendly big spike a week or 2 back). On the put side, I've also shifted. I'm shifting my delta up pretty significantly. In particular: I've written a put ladder today for Aug 7 / next Friday (closed the existing puts at 70% gain) that ranges from 1400 to 1485 and a delta from .23 to .42 (premiums from $26 to $51). I like the Aug 7 over July 31 as I like positions in the 3 to 8 day range, which makes today the 1 day in that range where I can go either way. I like the larger premiums for Aug 7 over rolling up for July 31. That .42 delta put is comfortably the highest delta put I've ever written. My intent is to get assigned on at least one of these positions (and if it looks like I'm failing to get assigned, I'll just roll up the lowest delta position to a high delta position and try again). It's also my belief that we're going up much more than down the next week or two at least. I'm hoping for a relatively modest net upward move in the stock week to week (up, up, and away, but $50/week instead of $200/day spikes). I think that hope is a forlorn one . That's a second reason for getting so aggressive on the put premiums - if I'm write about direction, then the premiums will melt quickly.