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So, if WU falls below $18 you will have to buy 100 shares at that price, which leaves you with 200 shares, hoping it is below $18 in May so you can keep the first 100 shares and the $150 call premium. Or, you might want the stock above $18 in February (keep the put premium) and below $18 in May (keep the call premium), the ideal result if you want to continue to own the stock and boost the yield.

This has a lot of moving parts and depends on a price 5 months away. I don't want to own more WU (if a put was exercised) so I think I'll stick with just selling covered calls.
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