On AFOP the options premiums and the valuation looked good to me so I did the following:
Bought my targeted amount (x% of my portfolio) PLUS a 0.5% trading position.
Then I sold the Feb $12.50 covered calls against my trading position for 40 cents a share. Once they expire I will sell the March $12.50 calls and keep repeating this every month until the trading shares get called away.
Chris