in some cases limits never fill, hence where this strategy is extremely useful when entering positions.
the cases that you dont get assigned/enter the position you get paid for the time you waited. for those worried on assignment risk, the premium received will reduce the cost basis of the position. that being said what ive been doing has been selling a $6p on a rolling basis.
when assigned i plan on implementing a covered call strategy. fit has a great BETA, sharefloat, sales, inventory turnover and intangible name.
creating a margin of saftey through appropriate risk analysis plus taking advantage of the profile is the new era of value investing