go long, sell $17 covered calls, buy $20 long calls to participate in the run, if it happens.
Pretty nice strategy, but it is still exposed on the downside. I'm already long shares, and I don't want to lose my long term cap gain shares just yet. Thanks for the suggestion though. I will use it in the future when I wouldn't mind losing some shares. I suppose I could buy more shares and do this, but that would be even more bullish than I already am.
I do wish I could buy some well out of the money protective puts. Stop loss will have to do. I watch closely so it shouldn't be problem unless we have a terrorist event.
HailMary