This morning I sold 2 T Mar08 32.50 Puts for $108.50 in an IRA account.

I entered the order before the market opened not sure if it would get filled or not.  I suspected that the stock would rebound from yesterday’s fall.  The stock opened up and then I caught my price on a dip.  It has rebounded again since then and continues to stay up so far today.

I will hold this stock and sell covered calls if it is put to me.  It pays a good dividend of 4.46% at its current price which would be 4.92% at the 32.50 strike price.