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This is obviously a case of great minds think alike

:) I just purchased 2 2013 calls today at strike and premium $7.5 each.

I already have 125 shares in my account. I was thinking of selling 2 covered calls after buying 75 more shares for $15 strike in May at 0.65 premium (IRA account). Essentially executing what they call a diagonal. So if F appreciates, my 2013 calls take care of it. My hope is that in 2013 F should be worth > $15. MUE and SA confirm this thesis. Whether stock tanks or goes up I can keep rolling covered calls to collect monthly premium. Let me know what you guys think of this strategy.

Thanks,

Anurag
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