Further to the analysis above, I thought I'd experiment with selling just a call spread to see how it plays out.
So I sold 50 x 750/770 Bear Call Spreads for around $1 each, yielding roughly $5,000. Margin impact was tiny and actually improved my maintenance margin by around $5000. I feel like this is a reasonably safe option the way things are trending for the week and a good way for me to generate extra premium as there's little margin impact and no shares needed to cover.
So I sold 50 x 750/770 Bear Call Spreads for around $1 each, yielding roughly $5,000. Margin impact was tiny and actually improved my maintenance margin by around $5000. I feel like this is a reasonably safe option the way things are trending for the week and a good way for me to generate extra premium as there's little margin impact and no shares needed to cover.