Sure, a run from 7.50 is pretty good...and profit taking islikely to ensue. But according to my quantitative trading model, buying at the current price of 13.50 and writing June strike 10 calls at 4.90/contract gives you an intrinsic time value of 400 bucks for every 1000 dollar investment. Also, the calls provide a hedge down to 9.60/share. At 9.60, are shares valued fairly? you bet they are!.