[jim2000]

I have a question for the options experts here.

Say I have 1500 RAD and am down about 1K. Current pps $4.01.

Would it be a reasonable play to write covered calls on this position for the Nov07 contract at 5.0 strike?

If so, does that mean I can't sell those shares until after expiration?

What I'm trying to do here is salvage a bad trade using option strategies. I've abandoned many losing positions and now I'd rather be proactive in trying to turn around this trade as opposed to just selling at a loss and moving on. If I can collect some premiums and in a few months the stock is still down, at least I can sell at a smaller loss than I would have if I had done nothing.

If there is a different, better play, I'm all ears.

Thanks.