Opening (IRA): USO December 20th 66 Covered Call... for a 64.74 debit.
Comments: Adding at strikes/break evens than what I currently have on ... . Selling the -75 call against long stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 64.74
Max Profit: 1.26
ROC at Max: 1.95%
50% Max: .63
ROC at 50% Max: .97%
Will generally look to take profit at 50% max; roll out call on test.