Today I sold 1 MWW Aug09 15 Covered Call for a net deposit of $16.25 in an IRA account.  My basis for these MWW shares is now 40.47.

I had to go out 2 months to be able to get option premium for the 15 strike price.  There has been some resistance at 15 which is why I wanted that strike price.  As  you can see, I am well underwater on MWW and don’t want it called away just yet.  I actually put in a limit day order for 1 MWW Aug09 10 at .55 while the bid/ask was .50/.55 hoping that I might catch a little dip.  I did not get my price and the order expired.  I will try again tomorrow.  My intent is to lower my average basis helping me to get MWW called away at a profit.  Also, having more contracts to sell decreases the cost of the transaction per share.