WFR - MEMC Electronics is slidding a little and I don't want to miss selling the out of the money (OTM) calls to hedge the position. We are selling the 95 strike due to the stock trading 15 points lower and that level is at the recent high. So we are selling calls at resistance. This trade barely has enough return to meet our entry parameters. That's why it is only a hedge for the existing 70 strike put position. Aggressive option writers can sell up to 4 contracts and not break the max initial margin .