I went with a synthetic covered call, selling the Aug17 $39 put for $1.90 cr . This trade is around a 5% cash within the next 35 days.
I'll go for 50% W or continue rolling this position out, collecting credit through time.
I am willing to hold long term, but I'd rather hold as short puts than shares (20% BPR vs 50% BPR), so I can continue to use capital else where. My overall basis across the accounts is $36.27.
I'm hesitant to sell naked calls against it right now (as I'm not put the shares yet), but it may be something I look into down the road.
~$31.05 basis right now.