Our bullish covered write on 200 shares — stock at 31.12 versus Feb 25 calls for 2.55 — will yield a fat theoretical profit with the underlying stock trading $29 or higher. Our maximum theoretical return of $1,286 would come with GDX $35 or higher, a prospect that seems increasingly likely. In fact, the immediate upside target is 40.85, implying a rally of about 12% from these levels. It should be considered well under way if and when the stock closes above 36.43, the midpoint sibling of the 40.85 pivot.