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September 12th, 2010 at 12:57 am
REV, you may want to consider both xle and iwm for covered calls. 51 is bottom of the channel for xle and 59 for iwm. I usualy sell front month 55 calls on xle. thankfully, bp isnt in xle! both of these etf’s offer pretty good premiums within the safety of a etf (less headline risk)