Metooxx, It's funny you mentioned that strategy, I was just wondering if someone could profitably do that last week. What happens if/when you are called out of the position. Do you just liquidate your put at market and roll up? Or, do you have a price point at which you assume you will be called out (assuming underlying is above srike of the sold call), and then purchase additional underlying shares in case call is excercised? I'm interested in hearing more...thanks.