Opening (IRA): SMCI April 17th 34 Covered CallSuper Micro Computer, Inc.BATS:SMCINaughtyPines... for a 32.13 debit. Comments: High IVR/IV. Selling the -84 delta call against shares to emulate the delta metrics of a 2 x expected move 16 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 32.13/share Max Profit: 1.87 ROC at Max: 5.82% 50% Max: .94 ROC at 50% Max: 2.91% Will generally look to take profit at 50% max, roll out short call if take profit is not hit.