We hold 800 shares with an adjusted cost basis of 11.75 against eight May 18 calls shorted for 0.64.  We”ll let the options ride for now, since their volatility has exploded with the wild moves lately in the underlying stock.  The May 18 calls are currently trading for around 1.06, but if their implied volatility were lowered to what it was just two weeks ago, the calls would be hovering around 0.77.