Update - 10/27/17
That did not take long... the spread value now sitting at 0.43, so time to enter second round.
Update - December 18th, 2017
Long stock assigned after December options expiration. The plan now is to collect the dividend and convert the long stock into a covered strangle.
Update - February 27th, 2018
Stock assigned, basis 17.80.
0.12 dividend, basis down to 17.68. Current stock price 14.69. Waiting for next spike to sell calls into.
Update - June 23rd, 2018
Still taking heat. 0.12 dividend, basis down to 17.56. Still waiting for a proper spike to sell calls int. Big resistance is 15.3, above that and we should see a good move. Just got removed from the Dow.