I'm looking at engaging a little bit of buying power here while I wait for volatility in the broader market to pick up without taking on a huge bunch of risk ... .

Bought 100 Shares WFT             @ 5.78
Sold June 6 Put
Total Package: $518

I'll put in a GTC             order to cover for $6.00, since that is what I would receive if called away at expiry, realizing an $82 profit/100 shares. If price is less than $6.00 at expiry, I'll keep the premium received for the short 6 ($60 or so) and will proceed to continue to sell calls against my stock in future expiries to further reduce my cost basis.
Comment: Debating on whether to roll the short call out (just noticed the chart says "Short 6 Put"; it should say Short 6 Call) or just get called away at expiry (assuming it stays above 6 for the next 18 days). I'm really not overly fond of the company and would prefer to just take my $82 and move on ... .
Trade closed manually: Covering this here with 7 days to go for a small profit, exiting the stock at 5.99 and the short call for a net profit of $32/contract. I could have held it to expiration to see if price expired above the short call, but didn't want to commit long-term to the trade if it was going to break down from here.
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